Strategy Pauses Weekly Bitcoin Purchases Ahead of Tuesday Q1 Earnings Release

Strategy, formerly MicroStrategy, paused its weekly Bitcoin purchases ahead of its first-quarter earnings release, with executive chairman Michael Saylor posting on X that “No buys this week. Back to work next week.”

“Strategy pauses bitcoin buys before Tuesday earnings Michael Saylor says the company will resume purchases next week, but the pause lands as analysts focus on losses and the growing complexity of Strategy’s preferred-stock funding machine”

@coindesk

The pause is described across outlets as temporary and tied to the timing of the earnings report, which multiple reports place on Tuesday.

@coindesk

The Block says the company’s first-quarter earnings report is set to release on Tuesday and that Wall Street analysts expect a $18.98 loss per share, while CoinDesk similarly frames the pause as landing “ahead of Tuesday’s first-quarter earnings release.”

Bitget and CCN both describe the same basic sequence: Strategy suspends acquisitions ahead of the Q1 earnings post, and Saylor signals a resumption next week.

The Block and other outlets also anchor the pause to a specific recent purchase window, with Bitget and MEXC citing an acquisition of 3,273 Bitcoin between April 20 and 26 for about $255 million, and with the company’s total holdings reaching 818,334 BTC.

Cointribune adds that the decision comes “just two days before the release of its quarterly earnings,” and it also states that the May 3 message changed the prior pattern of weekly buying.

Across the coverage, the pause is positioned as a near-term break in a strategy that has made Strategy the largest publicly traded Bitcoin holder, with outlets repeatedly emphasizing the company’s role as a “bitcoin treasury company” or “bitcoin financing vehicle.”

The pause arrives after Strategy’s disclosed buying activity and amid competing projections for what its earnings will show.

Bitget reports that Strategy “recently spent $255 million for 3,273 Bitcoin,” citing an 8-K filed with the US Securities and Exchange Commission on April 27, and it says the acquisition took place between April 20 and 26.

Bitbo

Bitget further states that with “818,334 BTC in possession,” the company’s “cost basis has increased to $75,537,” while “the most valuable cryptocurrency as of Monday’s trade was $79,731, as reported by CMC.”

Cointribune likewise says the average purchase price stands at $75,537 per unit and that the previous week Strategy added “3,273 BTC” at an average price of $77,906, bringing the annualized BTC yield to 9.6%.

On the earnings side, multiple outlets converge on a Wall Street loss estimate of $18.98 per share for Tuesday’s release, including The Block and Bitget.

CoinDesk adds further detail by reporting that Yahoo Finance data from six analysts points to first-quarter revenue of “about $125 million,” up roughly 12.6% from $111.1 million a year earlier, while it also states that Yahoo Finance shows an average estimate for a loss of $27.33 per share and that Zacks Research data points to an expected loss of $3.41 per share.

Cryptonews.net also reports that analysts expect a loss of $18.98 per share and that Strategy’s most recent purchase added 3,273 BTC at an average price of $77,906 per bitcoin.

A central thread in the coverage is Strategy’s reliance on STRC, a perpetual preferred security that multiple outlets describe as paying a dividend with an annualized rate around 11.5% and as trading near a $100 target.

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Bitget

Bitget says investors are worried about Strategy’s dependence on “STRC, Strategy’s perpetual preferred security,” adding that the asset’s “11.5% dividend yield” is a key concern, and it links the expected loss to “mark-to-market accounting for Bitcoin.”

Bitbo and The Block both describe STRC as a perpetual preferred share designed to “trade near $100 while offering a variable monthly dividend, currently around 11.5% annualized,” and they connect the product to concerns about how it behaves during market stress.

K33 Head of Research Vetle Lunde is quoted in Bitbo as warning that STRC’s structure introduces “sentiment-driven risks,” and it adds that holders face “capped upside through dividends but real downside exposure during market drawdowns.”

Bitbo also reports that if STRC trades below its $100 target for an extended period, it could shift toward a “credit-like risk profile,” and it notes that some critics call STRC a “Ponzi scheme.”

In contrast, Benchmark analyst Mark Palmer is quoted defending the model, describing STRC as part of a “deliberate and durable” structure that “converts demand for yield into long-term bitcoin exposure.”

The Block frames the STRC debate as part of why the pause is being watched, stating that acquisitions are usually made using proceeds from at-the-market sales of Class A common stock and perpetual preferred stocks, with STRC drawing concerns due to its high annual dividend rate.

Beyond Strategy’s own statements, some outlets describe how the pause is being interpreted by prediction markets and by broader expectations for Bitcoin price targets.

Crypto Briefing says MicroStrategy’s decision to pause Bitcoin purchases has influenced prediction markets and that “the likelihood of MicroStrategy announcing a Bitcoin purchase between April 28 and May 4 is priced at 0.4% YES.”

Cointribune

It also states that this reflects a “significant decrease from earlier levels,” and it links the pause to a reduced probability of Bitcoin reaching $115,000 in May, attributing the change to “institutional buying pressure.”

The same article frames the pause as consistent with scenarios where “Bitcoin price volatility is impacted by geopolitical tensions and institutional actions,” and it explicitly ties the pause to “geopolitical tensions involving the U.S., Iran, and Israel.”

CoinDesk, while not using the same prediction-market framing, similarly emphasizes that investors are focusing on the “growing complexity of Strategy’s preferred-stock funding machine” and that the company is being valued as a “bitcoin financing vehicle rather than a software firm.”

Cryptonews.net and Cointribune both connect the pause to the earnings timing and to the idea that Strategy’s reported results can be magnified by accounting tied to Bitcoin price fluctuations.

Bitget and CCN both describe the pause as a temporary suspension ahead of the earnings release, with CCN adding that “Chairman Michael Saylor has already signaled that purchases will resume next week.”

The immediate consequence of the pause is that Strategy’s next public financial update will be scrutinized for how it reflects Bitcoin price exposure and for how it addresses STRC-linked concerns.

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CCN

Multiple outlets say the earnings report is the focal point, with The Block stating the report is set to release on Tuesday and with Bitget describing the pause as “Ahead of Q1 Earnings.”

Crypto Briefing

CoinDesk adds that investors are watching for “updated cost basis” and that the earnings release could show how much confidence investors have in the “machinery” that funds purchases.

CCN says Q1 results will highlight “massive BTC accumulation” and that analysts are watching “revenue, holdings, and updated cost basis,” while it also describes an aggressive Q2 outlook with a target of “1M BTC” supported by continued STRC funding and “billion-dollar purchases.”

Bitget and Cointribune both tie the expected loss to mark-to-market accounting for Bitcoin, with Bitget stating that “Wall Street analysts are predicting a loss of $18.98 per share” and that the loss from the previous period was $16.49 per Yahoo Finance statistics.

CoinDesk adds a different set of loss estimates, reporting an average estimate for a loss of $27.33 per share and a Zacks Research expected loss of $3.41 per share.

Finally, Bitget says attendees of Wednesday’s Consensus business conference in Miami Beach, Florida may look forward to hearing Saylor speak, placing the post-earnings narrative into a broader schedule of investor-facing events.