MicroStrategy pauses 13-week recurring Bitcoin purchases record, resharing STRC preferred stock

MicroStrategy’s Executive Chairman Michael Saylor did not publish his usual signature “orange dot” Bitcoin tracking chart on March 29, breaking the 13-week streak of consecutive buy signals that had been in place since late December 2025. Saylor instead shifted to promoting the company’s perpetual preferred stock, STRC, as the main message for the day.

Meaning of the Orange Dot Signal: Establishing and Interrupting a 13-Week Buying Record

（Source: MicroStrategy）

Starting in late December 2025, Saylor posts every Sunday, on social media, Bitcoin accumulation charts marked with an orange indicator—serving as a forward-looking signal that purchases are coming—then confirms the exact buy amounts on each Monday through an 8-K filing. This “orange dot signal → 8-K confirmation” pattern has become a dependable benchmark for the market to track MicroStrategy’s buying activity.

During the 13 consecutive weeks of buying, MicroStrategy accumulated about 90,831 Bitcoins, bringing its total holdings to 762,099 Bitcoins.

Key Data on MicroStrategy’s Current Holdings

Total Bitcoin Holdings: 762,099 Bitcoins

Average Purchase Cost: $75,694 per Bitcoin

Cumulative New Additions Over 13 Weeks: About 90,831 Bitcoins

Current Bitcoin Price: $66,389 (down about 47% from the $126,000 peak in October 2025)

MSTR Stock Price: Down about 76% from the peak in November 2024

MicroStrategy previously paused acquisitions briefly in early July 2025 and again in early October, with both instances being temporary interruptions; purchases were ultimately resumed and continued. Not posting an orange dot signal on Sunday does not necessarily mean the buying has ended—the Monday 8-K filing will provide a clear answer.

STRC Takes Center Stage: A Structural Shift in MicroStrategy’s Financing Strategy

（Source: MicroStrategy）

In his Sunday post, Saylor emphasized STRC’s recent performance: “Over the past 30 days, the volatility of $STRC has been lower than every company in the S&P 500, and lower than all major asset classes, while also offering an 11.5% dividend yield.”

STRC is MicroStrategy’s perpetual preferred stock. Dividends are reset monthly, and the design goal is to keep the stock trading near a $100 par value. Since it began trading in July 2025, its annualized dividend rate has been raised for seven consecutive months, and is currently set at 11.5%.

On March 23, MicroStrategy submitted a $42 billion at-the-market (ATM) financing plan at market price, with $21 billion allocated to MSTR’s common stock and $21 billion to STRC’s preferred stock. It also announced an additional $2.1 billion of ATM financing for the STRK preferred stock series.

In February, CEO Phong Le said the company is gradually shifting from issuing common stock to preferred stock, as a primary financing tool for future Bitcoin purchases. Saylor also noted that the annualized Bitcoin return required to maintain STRC dividends is only about 2.13%, far lower than BTC’s historical performance, and—at least in theory—offers long-term sustainability. The change in the Sunday signal may reflect MicroStrategy’s shift in strategic communications focus at a key juncture in promoting preferred stock, rather than signaling an end to consecutive buying.

Frequently Asked Questions

What is MicroStrategy’s “orange dot” signal, and why does the market pay close attention to it?

The “orange dot” is the Bitcoin accumulation chart that Michael Saylor posts every Sunday on social media. The orange marker is used to preview the upcoming purchase plan, which is then formally confirmed by the 8-K filing on the following Monday. This practice has become a forward-looking indicator for the market to judge MicroStrategy’s purchase intentions, attracting many traders and analysts to track it regularly.

How much Bitcoin does MicroStrategy currently hold, and what is its unrealized gain/loss?

MicroStrategy holds a total of 762,099 Bitcoins, with an average purchase cost of $75,694 per Bitcoin. Bitcoin is currently quoted at $66,389, which is about 12% below the average cost; the company’s holdings are currently in an unrealized loss position.

How is the STRC preferred stock related to MicroStrategy’s Bitcoin purchase strategy?

MicroStrategy is shifting its financing source from MSTR common stock to preferred stocks such as STRC, to support ongoing Bitcoin purchases with a lower cost of capital. The annualized Bitcoin return required to maintain STRC dividends is only about 2.13%, far below BTC’s historical average performance—serving as the key basis for its long-term strategy’s sustainability.