Strategy is momentarily suspending its bitcoin acquisition activities. Michael Saylor announced on Sunday that the company would refrain from 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 marks only the second instance this year for Strategy, which has transformed into the largest publicly traded bitcoin treasury company. The company's current bitcoin holdings stand at 818,334 BTC, equivalent to nearly 3.9% of the total bitcoin supply.
Although the pause may seem insignificant, it comes ahead of Strategy's first-quarter results, with Wall Street analysts anticipating a potential loss of $18.98 per share. The company is expected to report revenue of approximately $125 million, representing a 12.6% increase from the previous year. However, earnings are projected to be lower, with an estimated loss of $27.33 per share. Strategy's valuation is now closely tied to its bitcoin financing activities, rather than its software business, which may impact how the upcoming report is perceived.
The company's ability to raise capital and fund further bitcoin purchases will be closely watched, particularly in light of its recent $82 million common stock sale.