Strategy (NASDAQ: MSTR) won't be buying any more Bitcoin for now. CEO Phong Le said the company will pause purchases until its STRC preferred stock climbs back to its $100 par value. The announcement came after MSTR shares closed at $97 on June 16, down 0.11% on the day.
The CEO's statement
Phong Le made the remarks public on June 16. He didn't give a timeline for when the stock might recover. The preferred stock, STRC, has been trading below par for some time. Le's statement effectively ties future Bitcoin accumulation to the performance of that preferred issue.
Market reaction
MSTR's drop on June 16 was modest — just 0.11% to $97. But the stock has been under pressure. The company's Bitcoin-heavy balance sheet has made it a proxy for crypto exposure, and the broader market has been choppy. The pause in purchases could signal a shift in strategy, or simply a temporary restraint.
Strategy now waits for STRC to hit $100. Until then, no new Bitcoin. The company holds a large stash already, but the buying spree that defined much of 2025 and early 2026 is on hold. Investors will watch the preferred stock's price closely in the coming weeks.
