Strategy has paused its Bitcoin (BTC) accumulation through its STRC preferred stock after failing to raise fresh capital since Friday, marking a stark turnaround after two aggressive weeks of buying.
Key conclusions: :
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The value of STRC dropped below its $100 face value, forcing Strategy to end its Bitcoin buying spree.
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STRC’s previous drops below $100 coincided with BTC price declines.
The STRC falls below its face value of $100
The outage coincided with STRC trading falling below its $100 par value, a key threshold for Strategy’s at-the-market (ATM) issuance model.
STRCs are for-profit preferred stock that income investors purchase in exchange for monthly dividends.
The strategy typically issues fresh shares only when STRC trades at or above par to efficiently raise capital. Once the price drops below $100, the company must offer better terms or sell at a discount, making the issue unattractive.
As a result, the funding channel is disabled, halting purchases of STRC-backed BTC, which appears to have been happening since Friday.
Prior to the break, Strategy was in hefty accumulation mode, purchasing 22,337 BTC in the week ending March 15, partially funded by approximately $1.18 billion in STRC-related sales.
The week before, he bought another 17,994 BTC, with approximately $377 million coming from STRC proceeds.
In total, Strategy added over 40,000 BTC in two weeks, with STRC serving as a key funding source. That’s about six times the total Bitcoin mined in the same two-week period.
STRC fractals indicate BTC falling below $70,000
Historically, lulls in Strategy’s STRC-based Bitcoin accumulation have coincided with short-term BTC pullbacks.
For example, after STRC fell below its $100 par value in January, Bitcoin fell by almost 40% over the next three weeks.
A similar situation in November 2025 preceded a roughly 25% decline in the BTC price, suggesting that STRC’s recent move below $100 could again enhance the risk of a short-term decline in the BTC price.
Related: Bitcoin’s ‘Powerful Move’ Approaches as Bollinger Bands Warn of Volatility
Downside chances are high as Bitcoin pulls back after testing $76,000, a level coinciding with the upper boundary of the dominant bear flag pattern.
BTC could slide towards the $66,000-$68,000 area, which coincides with the lower trendline support, if the correction continues this week.
On the other hand, the collapse of the bear flag threatens to drop the Bitcoin price to as much as $51,000.
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