Strategy has stopped buying $BTC

Michael Saylor's company has now gone three consecutive weeks without buying Bitcoin – despite raising fresh capital.

Last week Strategy sold $466.7 million in stock and didn't put a dollar of it into BTC. The cash went to its reserve instead, now at a record $3 billion – a war chest for preferred dividends and debt payments, not for accumulation.

Holdings sit unchanged at 843,775 $BTC, bought at an average of $75,476. With Bitcoin near $62K, the entire position is roughly $11 billion underwater.

Everyone said Saylor would never stop buying. Three weeks later, here we are. What's your read? 👇