MicroStrategy Pauses Bitcoin Buys After Six-Week Accumulation
MicroStrategy, the largest publicly traded Bitcoin holder, paused its weekly bitcoin purchases last week, ending a six-week accumulation streak. Executive Chairman Michael Saylor did not announce any new buys on X, breaking the streak dating back to October 6. The Tysons Corner, Virginia–based firm holds 649,870 BTC at an average cost basis of $74,433 per coin. The pause comes as MSTR shares trade roughly 70% below their all-time high and just above 1× net asset value, the lowest multiple of the current cycle. Ongoing chatter about potential index exclusion adds pressure, even as shares rose 1.5% Monday alongside a slight uptick in bitcoin to $86,200.
Neutral
The pause in Bitcoin purchases by MicroStrategy follows six weeks of aggressive accumulation and reflects tactical timing rather than a shift in long-term strategy. With 649,870 BTC on its balance sheet and an average cost of $74,433, the firm remains a major buyer; its shares trading at roughly 1× net asset value—the cycle low—suggests limited downside from current levels. Historical pauses in corporate treasury buys have had minimal impact on Bitcoin prices. Traders are likely to view this as a neutral signal in the short term while awaiting further guidance from Michael Saylor.