MicroStrategy Reports No Bitcoin Purchases in July Amid High Prices

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Despite Bitcoin prices reaching new record highs and showing significant weekly volatility, MicroStrategy (STRM), the world’s largest publicly traded holder of Bitcoin, announced it did not purchase any more Bitcoin last week. The company maintained its Bitcoin holdings unchanged at approximately 607,770 BTC.

This marks the second consecutive week in July without a purchase according to the company’s filing with the US SEC. Earlier in the month, Strategy had previously reported no Bitcoin acquisitions during the first week of July.

Sliding Monthly Purchase Volume

MicroStrategy slowed its overall Bitcoin buying pace significantly in July. The company reported acquiring approximately 10,445 BTC during the month, representing a 39% decrease month-over-month from the roughly 17,075 BTC purchased in June.

Purchases dropped 39% month-over-month (YoY) from the approximately 17,075 BTC purchased in June.STRM reported two purchases during July: a 4,225 BTC acquisition and a later 6,220 BTC purchase.

To provide the above Bitcoin buy volume figure, we used a figure between the monthly “cash proceeds” and the monthly “purchased amount” figures provided in the filing. The $100 gain per BTC in the triplet was based on Saylor’s description.

Purchases peaked earlier in the year, with 26,695 BTC bought in May and 25,370 BTC in April.

This previous gap occurred during the first week of April.

STRC Stock Offering Expanded

Simultaneously, MicroStrategy significantly increased the size of its Series A perpetual, non-participating preferred stock offering, raising the target from $500 million to $2.521 billion on Friday.

The offering, priced at a $90 strike price per share, is linked to the company’s established “Bitcoin Reserves Treasury” mechanism. This program aims to gradually finance future Bitcoin acquisition by selling these new shares.

MicroStrategy co-founder Michael Saylor recently referred to these stock sale programs as one of four pillars underpinning the company’s operational structure, calling the systemic approach the company’s “Bitcoin defense department.”