Key Takeaways
- Strategy has temporarily halted Bitcoin acquisitions this week in advance of its Q1 earnings announcement on Tuesday
- The firm’s Bitcoin holdings total 818,334 BTC, representing approximately 3.9% of the entire Bitcoin supply
- Analyst projections show per-share losses ranging from $3.41 to $27.33 for the first quarter
- Anticipated revenue stands at approximately $125 million, reflecting a ~12.6% increase year-over-year
- Questions surrounding Strategy’s STRC preferred share dividend yield of 11.5% continue to intensify
Michael Saylor revealed on Sunday that Strategy is hitting pause on Bitcoin acquisitions for the current week. “No buys this week. Back to work next week,” he shared via 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 interruption in the company’s buying activity this year. Previously, Strategy took a break from purchasing during the week spanning March 23–29.
The firm’s latest Bitcoin acquisition occurred during April 20–26, when Strategy secured 3,273 BTC for $255 million, paying an average of $77,906 per Bitcoin. This transaction was formally reported through an 8-K SEC filing on April 27.
Strategy’s current Bitcoin portfolio contains 818,334 BTC. Bitcoin was hovering near $80,100 Monday morning, representing approximately a 20% gain over the preceding month.
The company’s average cost per Bitcoin stands at $75,537. At present market values, this positions Strategy with an unrealized profit.
The focal point this week is Tuesday’s Q1 earnings release. Wall Street forecasters anticipate revenue reaching approximately $125 million, marking a 12.6% climb from the $111.1 million reported during the corresponding quarter last year.
This would represent meaningful progress following a 3.6% revenue decline in Q1 2025. The projection indicates that the core software operations continue to demonstrate positive momentum.
Examining the Loss Projections
The earnings picture presents a more complex narrative. Analyst forecasts for per-share losses vary substantially, spanning from $3.41 (Zacks) to $27.33 (Yahoo Finance consensus). Another estimate positions the loss at $18.98 per share.
This significant variance stems from the intricacies of Strategy’s Bitcoin mark-to-market accounting methodology, which can produce substantial fluctuations in reported results based on BTC price movements throughout the quarter.
Strategy’s STRC preferred shares are drawing increased attention. STRC provides an 11.5% annualized dividend yield and is structured to maintain a value near $100.
STRC Dividend Concerns Mount
Skeptics question the dividend framework’s sustainability. In an April 28 Seeking Alpha post, blogger Joseph Parrish suggested that existing cash reserves might prove insufficient to support two years of STRC dividend payments. His current rating on MSTR is “Hold.”
Peter Schiff escalated his criticism on Sunday, reiterating his position that STRC exhibits characteristics of a Ponzi scheme. “Gambling that Bitcoin will rise by more than 11.5% a year does not change the Ponzi like structure of STRC,” he declared on X.
However, not all observers share this perspective. TipRanks data reveals a consensus “Strong Buy” recommendation on MSTR among Wall Street analysts.
Strategy’s market valuation has evolved beyond its software business roots. The investment community now views it primarily as a Bitcoin financing mechanism, suggesting Tuesday’s earnings will likely be evaluated based on Saylor’s capital-raising strategy’s effectiveness rather than traditional operating metrics.
Saylor is also slated to present at the Consensus conference in Miami Beach on Wednesday.
