Strategy has gone six consecutive weeks without a single Bitcoin acquisition, its longest buying drought since at least 2024. The last purchase was a modest 520 BTC during the week of June 15
Strategy has gone six consecutive weeks without a single Bitcoin acquisition, its longest buying drought since at least 2024. The last purchase was a modest 520 BTC during the week of June 15-21, acquired at an average price of $67,068 per coin.
Since then the buying machine that defined Strategy’s identity has stayed switched off. The pause was confirmed in the company’s August 3 SEC filing. Holdings now stand at 842,138 BTC.
Bitcoin is trading near $63,800. MSTR is around $97–$98, down roughly 76 percent from its 52-week high of $414.36.
Strategy has not gone this long without a purchase since 2024. The company was still in accumulation mode earlier in 2026, with sizable buys in the first half of the year. That consistency is what makes the current pause stand out.
The shift is deliberate. Rather than deploying capital into additional Bitcoin, Strategy has focused on strengthening its liquidity position. Its USD reserve has grown to $4.0 billion as of August 2.
Preferred-stock dividend obligations have risen sharply. In the second quarter they reached levels well above operating revenue, forcing the company to prioritize cash coverage over further accumulation.
The pause is only half the story. Strategy has executed three separate Bitcoin sales in 2026 under its monetization program, totaling approximately 5,226 BTC and roughly $321 million in proceeds.
All three were completed below the company’s average cost basis (now about $75,419 per coin), meaning Strategy realized losses on each tranche to service preferred dividends and related obligations.
The last comparable multi-week pause in accumulation occurred during the 2022 bear market. Accumulation later resumed, and Bitcoin went on to reach an all-time high near $126,000 in October 2025.
Peter Schiff’s earlier prediction that Strategy’s Bitcoin yield would turn negative in 2026 has gained more weight as the company’s quarter-to-date BTC Yield and BTC Gain have moved into negative territory.
Fifteen analysts still rate MSTR a Strong Buy with an average price target of $257.50, implying substantial upside from current levels.
The accumulation engine has not been dismantled. Whether it restarts before the next major Bitcoin move remains the central question for the market.
Related: Bitcoin has never broken this line in 15 years, it is on it right now
