Strategy Corp pauses Bitcoin buying and raises cash reserve while targeting $100 STRC parity

Strategy, the world’s largest publicly traded holder of Bitcoin, halted its weekly Bitcoin purchases and allocated $450 million to raise its cash reserves to $3 billion after a $467 million equity raise. Chief Executive Phong Le said the firm will not resume buying Bitcoin until its perpetual Stretch preferred shares (STRC) recover their $100 par value, which currently trades near $90. Le added that the company’s debt position remains safe unless Bitcoin falls to a “danger zone” of $8,000‑$10,000.

The pause follows a $216 million Bitcoin sale—the largest since the company began accumulating the cryptocurrency—used to fund preferred‑stock dividends and bolster cash. STRC carries annual dividend and interest obligations of about $1.76 billion, and the firm aims to use future capital raises to support both Bitcoin purchases and dividend payments once the preferred shares are back at parity.

Le emphasized the shift from a “never‑sell” stance to a more flexible capital‑allocation framework, stating, “When Stretch gets back to par, we’ll issue more. We’ll buy more Bitcoin.” The company’s cash cushion is intended to cover two years of preferred‑stock dividends and provide flexibility amid Bitcoin’s price volatility.