Big Bull Michael Saylor Turned Corner This Week! Bitcoin (BTC) Purchases Halted But $4.2 Billion New Move Announced!

The largest institutional Bitcoin bull Strategy (formerly MicroStrategy) has not performed as expected this week.

At this point, Strategy, which regularly buys Bitcoin every Monday, has paused Bitcoin purchases for the first time since April.

In the official statement, Strategy's current total assets remained at 597,325 BTC ($65 billion).

No Bitcoin Purchases!

Strategy halted purchases of Bitcoin (BTC) between June 30 and July 6, as disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).

The company continues to hold 597,325 BTC worth $65 billion at an average purchase price of $70,982 per BTC.

This marks the first disruption in Bitcoin purchasing since April.

“Some weeks you just have to HODL,” Strategy co-founder Michael Saylor said.

Following this halt in Bitcoin purchases, Strategy released Q2 results on Monday, disclosing an unrealized gain of $14.05 billion in digital assets and a deferred tax expense of $4.04 billion.

A New Move Worth $4.2 Billion!

Strategy announced its new move of $4.2 billion, even though it paused its Bitcoin purchases.

Accordingly, Strategy announced the launch of a $4.2 billion At-The-Market (ATM) offering program for its 10% Perpetual STRD Preferred Stock.

The company plans to sell STRD shares in a gradual and orderly manner, depending on market price and trading volume. Proceeds will be used for various purposes, including the purchase of Bitcoin.

*This is not investment advice.