Strategy Pauses Bitcoin Purchases Ahead Of Earnings

Strategy (NASDAQ: $MSTR) has paused its Bitcoin (CRYPTO: $BTC) purchases heading into its quarterly financial results on Oct. 29.

The serial cryptocurrency acquirer did not buy or sell any Bitcoin between Oct. 19 and Oct. 25, ending a five-week acquisition spree.

Regulatory filings show that Strategy's Bitcoin holdings remain unchanged at 848,517 BTC, worth around $67.9 billion U.S.

Strategy is the largest corporate owner of Bitcoin in the world, holding more than 4% of the cryptocurrency's circulating supply.

The company led by Chairman Michael Saylor bought Bitcoin at an average price of $75,446 U.S. for a total cost of about $64 billion U.S.

Over the last week, Strategy repurchased 2.07 million of its preferred stock (NASDAQ: $STRC) for $204.9 million U.S. The purchases were made using the company's cash reserves.

As of Oct. 25, Strategy's cash balance stood at $242.4 million U.S. The company is scheduled to reports its third-quarter financial results after markets close on Oct. 29.

MSTR stock has declined 53% over the last 12 months to trade at $138.86 U.S. per share. Bitcoin is trading at $79,500 U.S. on Oct. 26.