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Michael Saylor has paused Bitcoin accumulation at Strategy, the software company he leads, as the firm shifts its focus to liquidity and preferred equity. The move ends, for now, a stretch of steady buying that made Strategy one of the most recognizable corporate holders of Bitcoin.

A change in capital strategy

Strategy's decision to halt new Bitcoin purchases marks a notable shift in how the company allocates its capital. Instead of adding to its digital asset pile, the firm is now concentrating on liquidity and preferred equity. That's a departure from the approach Saylor has championed, where Bitcoin was the primary treasury reserve. Saylor has long been a vocal proponent of Bitcoin as