Key Takeaways
- Strategy has temporarily halted its Bitcoin acquisition program ahead of Tuesday’s Q1 earnings announcement
- The firm’s Bitcoin holdings total 818,334 BTC, representing approximately 3.9% of Bitcoin’s circulating supply
- Analyst projections for Q1 show a per-share loss ranging from $3.41 to $27.33
- Expected Q1 revenue stands at approximately $125 million, marking a ~12.6% increase year-over-year
- Strategy’s STRC preferred stock offering an 11.5% dividend yield faces mounting skepticism
Michael Saylor disclosed on Sunday via social media that Strategy would pause Bitcoin acquisitions this week. “No buys this week. Back to work next week,” the executive declared on X.
No buys this week. Back to work next week. $BTC pic.twitter.com/lqliYZPAf4
— Michael Saylor (@saylor) May 3, 2026
This marks just the second time in 2025 that Strategy has suspended its weekly Bitcoin buying program. The previous pause occurred during the week spanning March 23–29.
The company’s latest Bitcoin acquisition took place during the April 20–26 period, when Strategy purchased 3,273 BTC for approximately $255 million, averaging $77,906 per Bitcoin. This transaction was formally disclosed through an SEC 8-K filing dated April 27.
Strategy’s cumulative Bitcoin position now stands at 818,334 BTC. Bitcoin was changing hands near $80,100 Monday morning, reflecting approximately 20% gains over the trailing 30-day period.
With an average cost basis of $75,537 per Bitcoin, Strategy currently holds an unrealized profit at prevailing market prices.
The spotlight shifts to Tuesday’s first-quarter earnings release. Consensus estimates from Wall Street point to revenue of roughly $125 million, representing approximately 12.6% growth compared to the $111.1 million reported in the prior-year quarter.
This would signal meaningful progress following the 3.6% revenue decline recorded in Q1 2025, indicating the core software operations continue advancing positively.
Understanding the Loss Projections
The earnings picture tells a more complicated story. Analyst forecasts for the quarterly per-share loss vary dramatically, from $3.41 according to Zacks to $27.33 based on Yahoo Finance consensus figures. An additional estimate places the loss at $18.98 per share.
This substantial variation stems from the intricacies of Strategy’s Bitcoin mark-to-market accounting methodology, which produces volatile earnings results depending on Bitcoin’s price fluctuations throughout the reporting period.
Meanwhile, Strategy’s STRC preferred stock instrument faces increased examination. STRC delivers an 11.5% annualized dividend return and maintains a target trading price around $100.
Questions Emerge Over STRC Dividend Viability
Skeptics have raised concerns about the dividend framework’s sustainability. In an April 28 analysis published on Seeking Alpha, blogger Joseph Parrish suggested existing cash positions might prove insufficient to fund STRC dividends beyond a two-year horizon. His current stance rates MSTR as a “Hold.”
Peter Schiff escalated his criticism Sunday, reiterating allegations that STRC exhibits Ponzi-like characteristics. “Gambling that Bitcoin will rise by more than 11.5% a year does not change the Ponzi like structure of STRC,” Schiff stated on X.
However, sentiment isn’t universally negative. TipRanks data indicates Wall Street analysts maintain a consensus “Strong Buy” recommendation for MSTR shares.
Strategy has effectively transitioned away from pure software company valuations. The market now prices it predominantly as a Bitcoin leverage instrument, suggesting Tuesday’s quarterly results will be assessed primarily through the lens of Saylor’s capital deployment strategy rather than traditional operational metrics.
Saylor is additionally slated to present at the Consensus conference taking place in Miami Beach on Wednesday.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
