Strategy Pauses Bitcoin Buying as Preferred Share Buybacks Take Priority

Strategy has stopped adding to its Bitcoin stack. In the week of Sept. 21 to 27, the company bought 1,665 BTC worth about $142.7 million, but in the latest week, Oct. 19 to 25, it bought nothing. The slowdown happened step by step over the month, with 334 BTC ($28.7 million) bought in the following week, 250 BTC ($21.5 million) the week after, and 267 BTC ($22.1 million) in the week before the pause. The company last reported holding 848,517 BTC, acquired for roughly $64 billion.

Preferred Share Buybacks Overtake Bitcoin Spending

The money is going elsewhere. Over the previous three weeks, Strategy spent nearly $562 million repurchasing its preferred shares, compared with only $72.3 million on Bitcoin. That gap shows where the company now puts its capital, favoring buybacks over accumulation.

What the Strategy Slowdown Means for the Bitcoin Market

The shift removes a steady source of demand that traders had grown used to, arriving as Bitcoin trades near $80,000 and ETF flows turn choppy. With the company directing more cash to preferred shares, the weekly purchase announcements that once moved sentiment may carry less weight in the weeks ahead.