Strategy: Saylor Bitcoin Buys Halted Eight Weeks
Strategy sold 3.46M shares for $333.7M with zero Bitcoin purchases as mNAV hits 1.04x and losses reach $10B.
SourceAnalysis
Strategy has not purchased Bitcoin for eight straight weeks after raising $333.7 million from 3.46 million share sales.
The proceeds covered preferred dividends, a $132.2 million STRC repurchase, and cash reserves instead of adding to holdings. Strategy now carries a $10 billion unrealized loss on its BTC position while servicing $1.72 billion annually in interest and dividends, pushing mNAV to 1.04x.
Price action on the 4h chart shows BTC at $63517.4 testing upper Bollinger resistance at $63565.25 with RSI at 54.84 remaining neutral and MACD registering a bullish golden cross at -35.93; however the structure stays bearish as price sits below both EMA50 at $63550.61 and EMA200 at $63692.85, suggesting any upside stall could quickly target the lower band support near $62711.99 before fresh accumulation resumes.
Bull Theory
@BullTheoryioResearch, Trades, onchain plays and all other crypto stuff simplified.Publishes institutional-grade cryptocurrency research and blockchain market intelligence. Delivers in-depth analysis of on-chain metrics, tokenomics, and decentralized finance (DeFi) ecosystems. Features proprietary data models, investment thesis breakdowns, and macro-level crypto trend forecasts. Provides strategic insights for sophisticated investors navigating digital asset markets. Maintains rigorous methodology in fundamental and technical analysis across crypto assets.
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