Strategy is momentarily suspending its bitcoin purchases. Michael Saylor announced on Sunday that the company would not be adding to its bitcoin holdings this week, putting its regular purchase program on hold until after the release of its first-quarter earnings on Tuesday. This pause is only the second one this year for Strategy, which has become the largest publicly traded bitcoin treasury company and a closely watched proxy for institutional bitcoin exposure.
The company's last pause occurred during the week of March 23 to March 29. With its current holdings of 818,334 BTC, equivalent to nearly 3.9% of bitcoin's total supply, the company's most recent purchase added 3,273 BTC at an average price of $77,906 per bitcoin.
As the company prepares to report its first-quarter results, some Wall Street analysts anticipate a loss of $18.98 per share. The expected revenue for the first quarter is around $125 million, marking a 12.6% increase from the previous year. However, earnings are expected to be lower, with an average estimated loss of $27.33 per share.
The company's valuation is now closely tied to its bitcoin financing activities, with its perpetual preferred share, STRC, drawing attention for its variable monthly dividend. The upcoming earnings report will be closely watched to gauge investors' confidence in Strategy's capital-raising machinery and its ability to continue funding bitcoin purchases.