Strategy (NASDAQ: MSTR), a portfolio company of Bitcoin led by Michael Seller, has not purchased Bitcoin for five consecutive weeks and has sold Bitcoin multiple times since late May 2026. The company’s most recent reported Bitcoin purchase occurred between June 15 and 21, when it acquired 520 Bitcoin for $35 million.

Phong Le, CEO of Strategy, stated that the company is shifting from “one-way capital issuance” to “active capital management” and no longer aims to accumulate as many Bitcoin as possible. This move reflects that its previous “flywheel” strategy—purchasing Bitcoin through stock issuance—is no longer effective, as its stock price currently trades at a discount to its net asset value (NAV).The company currently holds $3.75 billion in cash reserves, sufficient to cover annual dividend payments and interest expenses for more than two years.