MicroStrategy Ends Historic 13-Week Bitcoin Buying Streak: Is the Pump Cooling?

Core Insights - MicroStrategy has paused its Bitcoin acquisition after a 13-week buying streak, marking the first break in a structured acquisition program that began in late December 2025 [1][2] Group 1: Acquisition Strategy - The company acquired approximately 90,831 BTC during the 13-week period, funded through a combination of common stock sales, convertible notes, and preferred equity offerings [2][3] - Individual weekly purchases peaked significantly, with a notable acquisition of 17,994 BTC at an average price of $76,000 during the week of March 2–8, funded by $900 million in Class A common stock sales and $377 million from discounted STRC shares [4] - The largest single-week purchase occurred the following week, totaling $1.57 billion in BTC [4] Group 2: Current Holdings - MicroStrategy's corporate treasury now holds 762,099 BTC at an average acquisition price of $75,694 per token, representing over 2.8% of the total BTC supply [5] - The company's weekly purchase announcements have become a significant event for market participants, influencing liquid supply dynamics in the spot market [5] Group 3: Funding Mechanism - The pause in acquisitions is attributed to the STRC preferred share offering, which was designed to attract yield-focused retail investors for capital raising [6] - By the week ending March 23, the STRC shares had fallen below $100, effectively closing the issuance window and removing the funding vehicle that supported larger weekly acquisitions [6]