Strategy (formerly MicroStrategy) paused Bitcoin purchases after CEO Michael Saylor said “No buys this week.” The pause stemmed from two funding constraints: STRC (Stretch Preferred Stock) trading below its $100 par value—making its 11.5% yield less attractive—and the company suspending at‑the‑market (ATM) MSTR equity sales ahead of its Q1 2026 earnings call. Critics including Peter Schiff called STRC a “Ponzi,” while CEO Phong Le defended the program’s transparency and on‑chain asset backing. As of early May 2024 Strategy holds 818,334 BTC with an average purchase price of $75,537, leaving the portfolio in profit despite the temporary halt.

The company publicly paused buys due to concrete funding limits: STRC trading below $100 par (weakening its 11.5% yield capital-raising tool) and suspension of ATM MSTR sales before earnings; this reduces a major buyer’s near-term demand for BTC. The firm still holds 818,334 BTC at a $75,537 average cost and executives defend the program, but critics labeled STRC a “Ponzi,” creating reputational risk. These are factual drivers for a modestly negative short-term view and a moderate trading impact.