MicroStrategy (MSTR) Pauses Weekly Bitcoin (BTC) Purchases Forward of Earnings

MicroStrategy, the fourth-largest proprietor of bitcoin (BTC), didn’t purchase any new tokens final week, Govt Chairman Michael Saylor introduced on X, ending a 12-week string of purchases.

Since Nov. 11, the Tysons Nook, Virginia-based firm has purchased 218,887 bitcoin, in line with Saylor. It at the moment holds 471,107 bitcoin.

Whereas Saylor did not say why the corporate held again, a possible purpose may very well be its impending earnings launch after the market shut on Feb. 5, stated James Van Straten, a senior analyst at CoinDesk.

Public firms go right into a so-called blackout interval for a while earlier than earnings releases to forestall insider buying and selling. Throughout that interval, which might final days, weeks and even months, folks with monetary details about the corporate are restricted from shopping for or promoting the corporate’s securities.

In MicroStrategy’s case, given that almost all of its steadiness sheet is bitcoin, this might embrace buying and selling the cryptocurrency.

Final week, the corporate introduced a most well-liked share providing of roughly $250 million to buy much more BTC. Only a few days later, it greater than doubled that quantity because it offered roughly 7.3 million shares of the sequence.