- Strategy halts weekly BTC buys after 13 weeks as capital access and funding conditions tighten.
- Corporate Bitcoin accumulation drops sharply, with net weekly purchases falling nearly to zero.
- Metaplanet shifts to a cashback model, enabling indirect BTC accumulation despite the buying pause.
Strategy reported no Bitcoin purchases for a week, marking the first interruption in its weekly accumulation pattern since December 2025. The update, disclosed in a Form 8-K filing, ends a 13-week sequence of consistent buying that had become a closely tracked indicator of corporate demand for Bitcoin exposure.
The company confirmed that it neither issued shares through its at-the-market program nor acquired additional Bitcoin during the reporting period. As of March 29, Strategy held approximately 762,099 BTC, acquired at an aggregate cost of $57.69 billion and an average purchase price of about $75,694 per coin.
Funding Structure Faces Pressure Amid Market Conditions
The pause comes as Strategy continues to rely on a layered capital strategy to finance its Bitcoin acquisitions. The firm has alternated between common equity, preferred shares, and debt issuance, adjusting issuance depending on investor demand across each segment.
Its latest capital plan outlines a $42 billion structure split evenly between Class A common stock and perpetual preferred shares. The preferred instruments, which carry an 11.5% yield, are positioned as a central funding component.
However, recent price performance may be affecting access to capital. Strategy’s common shares have declined more than 70% from late-2024 highs, while its preferred shares have traded below their $100 par value.
Corporate Bitcoin Accumulation Slows Sharply
The halt in Strategy’s purchases coincides with a broader slowdown in corporate Bitcoin accumulation. Data from SoSoValue shows that net purchases by publicly listed companies fell 99.93% week over week, with firms adding just 1 BTC during the latest period.
Other consistent buyers also paused activity. Japan-based Metaplanet recorded its eleventh consecutive week without purchases, while Strategy did not announce any new acquisitions. In contrast, UK-based BHODL disclosed a purchase of one Bitcoin valued at $72,832, making it the only recorded buyer during the week.
Despite reduced activity, corporate treasuries continue to hold a large share of the Bitcoin supply. Public companies collectively hold approximately 1,023,333 BTC, representing about 5.1% of the circulating supply. However, week-over-week growth in holdings has slowed to near-zero levels, reflecting limited new inflows under current market conditions.
Separately, Metaplanet disclosed plans to launch the Metaplanet Card, a shareholder-exclusive credit card offering 1.6% cashback in Bitcoin on purchases. The product is scheduled for release in summer 2026 and will automatically convert cashback into Bitcoin deposited into user wallets.
The company currently holds more than 35,000 BTC and has outlined continued accumulation goals. While direct purchases have paused, the card initiative reflects an alternative approach to increasing Bitcoin exposure through transaction-based accumulation tied to consumer spending.
Related: Metaplanet Moves 4,986 BTC as Stock Slides 12% Following Treasury Shift
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Source: https://coinedition.com/strategy-pauses-bitcoin-purchases-as-funding-conditions-tighten-and-corporate-flows-stall/
