Bitcoin Billionaires Hit Pause: Saylor’s Strategy Stalls Again

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Strategy (NASDAQ: MSTR), the software company that’s apparently allergic to diversification, has once again paused its weekly Bitcoin (BTC) shopping spree. 🛒 According to a post on X (formerly Twitter, for those of you still catching up), Michael Saylor, the company’s executive chairman, announced that they didn’t sell any Class A common stock between February 10 and 14. Because, you know, even Bitcoin billionaires need a break sometimes.

This marks the second time in 14 weeks that Strategy has hit the brakes on its Bitcoin-buying bonanza. The company funds its crypto addiction by selling shares, and apparently, they’ve decided to stop selling shares for a hot minute. Maybe they’re waiting for Bitcoin to go on sale? 🕰️

Strategy’s Stock Sale Siesta

Here’s the deal: Strategy’s equity program is the backbone of its Bitcoin strategy. Since 2020, the company has thrown a whopping $31.1 billion into Bitcoin. They raise capital by selling shares, and then—plot twist—they use that money to buy more Bitcoin. It’s like a financial ouroboros, but with more zeros.

This strategy (pun intended) has made Strategy the largest public holder of Bitcoin in the world. But from February 10 to 14, they didn’t sell any new Class A stock, so their Bitcoin stash stayed frozen at 478,740 BTC. 🥶

Last week, @Strategy did not sell any shares of class A common stock under its at-the-market equity offering program, and did not purchase any bitcoin. As of 2/17/2025, we hodl 478,740 $BTC acquired for ~$31.1 billion at ~$65,033 per bitcoin. $MSTR

— Michael Saylor⚡️ (@saylor) February 18, 2025

As of now, that’s worth over $46 billion, even though Bitcoin is trading below $97,000. Coinspeaker recently reported that Strategy has massive investments from 12 US states, totaling more than $330 million in MSTR stock. Because nothing says “financial stability” like tying your fortunes to a volatile cryptocurrency. 💸

This isn’t the first time Strategy has paused its stock sales. The first time was in early February, when they also took a breather from buying Bitcoin. Coinspeaker noted that the Virginia-based firm was preparing to close a $563.4 million preferred stock offering. The pause has left everyone wondering: Is Strategy running out of steam, or are they just waiting for Bitcoin to hit $100,000? 🤔

But fear not! Saylor assured everyone that Strategy is still laser-focused on its long-term crypto goals. He confirmed that the company resumed its weekly Bitcoin purchases last week, spending $742 million to add to its hoard. This was revealed in the latest filing with the US Securities and Exchange Commission (SEC). Because nothing says “transparency” like a government filing. 📄

Bitcoin Kingpin

Strategy now holds as much Bitcoin as some of the biggest Wall Street investors. As of writing, data shows the company has more Bitcoin than Fidelity and Grayscale Investments combined. Only BlackRock’s Bitcoin ETF has surpassed Strategy’s reserve, with the BlackRock iShares Bitcoin Trust (IBIT) boasting $57 billion in assets. 🏦

But let’s be real: Strategy is still the king of Bitcoin itself. This shows that Saylor’s company is a major player in the crypto market and has a huge influence over public Bitcoin holdings. It’s like they’re the Walmart of Bitcoin, but with fewer greeters. 🛒

Interestingly, crypto firms and corporate businesses worldwide are following Strategy’s lead in building Bitcoin treasuries. Coinspeaker reported that V2G technology firm Nuvve has gotten Board approval to invest in Bitcoin and accept it as payment. Besides Nuvve, Semler Scientific, Tether Holdings, and RIOT Platforms are also trailing Strategy’s moves. Because when you’re a trendsetter, everyone wants to copy your homework. 📚

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2025-02-18 23:48