Michael Saylor noted that the strategy will not be making any purchases of Bitcoin (BTC) this week. The break comes two days before the company announces first quarter (Q1) 2026 earnings on May 5.
The pause stops during the first sharp MicroStrategy quarterly Bitcoin withdrawal of the cycle. The company is also shifting financing toward preferred stock rather than diluting common stock.
Pausing MicroStrategy Bitcoin is in line with the earnings window
The break ends a The near-weekly rhythm that defined MicroStrategy’s 2026 backlog. 13-week buying streak Taken in late March.
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Strategy now He carries 818,334 BTC worth $64.44 billion at an average cost of $75,532 per coin, an unrealized gain of 4.23%.
The first quarter continues to see strong accretion. MicroStrategy added nearly 89,600 BTC for $5.5 billion last quarter, the second-largest quarterly purchase in the company’s history. Bitcoin fell more than 20% during the same period.
Earnings will test STRC pivot
Meanwhile, Wall Street expected Q1 revenue approaching $120 million and GAAP loss primarily driven by Bitcoin mark-to-market accounting.
Zacks pegs the EPS consensus at negative $3.41, while broader analyst aggregates show much deeper losses. Associated with the draw in the quarterAfter MicroStrategy reported an unrealized loss of $14.5 billion on its shares Q1 GAAP report.
“According to Zacks Investment Research, based on 1 analyst forecasts, the consensus EPS forecast for this quarter is -$3.41. The reported EPS for the same quarter last year was -$16.49,” Nasdaq I mentioned.
Investors will follow Stretch Preferred Share (STRC) Program. STRC became primary engine Since the strategy has fallen back on common stock offerings in the market.
The shares pay a dividend of 11.5% and were recently trading below par. Critics including Peter Schiff They argue that the structure introduces dilution and refinancing risks If Bitcoin extends lower.
The May 5 call is broadcast at 5 PM ET on Zoom, X and YouTube. Investors will be watching whether buying resumes next week or whether yield-focused discipline takes priority now.
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