Metaplanet headlines BTC treasury purchases as Strategy halts weekly streak

Strategy skipped its weekly BTC purchase for the second time in July, while reporting no new raises for either preferred or common stock. The pause in buying coincides with the attempt to raise new funds through Stretch (STRC), the company’s new dividend-yielding preferred shares. 

Strategy announced zero raises this week from its common stock or preferred shares. The company skipped its weekly BTC purchase for the first time since July 7, when the quarterly reporting delayed the purchase on technicalities. 

Ahead of Monday’s S-8 filing, the company’s Executive Chairman Michael Saylor posted a neutral message on social media, with no direct hints of a new purchase. 

It all began with a quarter billion in bitcoin. pic.twitter.com/Ssbef084YQ

— Michael Saylor (@saylor) July 27, 2025

This time, the usual Strategy buying was delayed as the company prepares for the placement of its new Stretch (STRC) preferred shares with cumulative dividends and adjustable price. STRC may be offered at the lower range of $90, as the placement is expected this Tuesday.

The oversubscribed placement suggests Strategy has not lost any of its appeal, and there is mostly optimism about its ability to continuously turn cash into BTC.

The past week saw BTC show some weakness, dipping to $115,000. However, this was not due to lower spot demand, but mostly a result of liquidated long positions. BTC traded at $118,958, still significantly above Strategy’s average purchase price of $71,756. The company retains a treasury of 607,770 BTC, surpassed only by the reserves of BlackRock’s IBIT ETF. 

Strategy boasts of topping the year’s crypto IPO

Strategy shifted the focus to its STRC share placement, claiming the event would become the biggest crypto IPO for the year. The expected raise is at $2.52B, surpassing other share sales, even the highly successful Circle IPO. 

STRC IPO: $2.521 billion
Setting the record as the largest U.S. IPO of 2025. pic.twitter.com/B4kIMGoyNG

— Strategy (@Strategy) July 27, 2025

Strategy retains significant reserves for the years ahead based on its MSTR facility, as well as three types of preferred shares. As it acquires more BTC, Strategy still depends on overall bullishness to justify the premium growth of its shares. 

MSTR rose to $413.89 despite the delayed treasury operation, though still down from its monthly peak.

The stock may react to the earnings report coming this Thursday, another potential reason for the skipped weekly purchase. 

Metaplanet crosses $2B treasury milestone

In other news, Metaplanet continues its expansion, as it bought more BTC than planned based on favorable market conditions and financing. 

In its latest round, Metaplanet added 780 BTC valued at $92.5M, at an average price of $118,622 per BTC. Metaplanet holds 17,132 BTC, ranked 7th among the top corporate holdings. 

Smaller BTC purchases continue, more as a message than Strategy’s large-scale approach of turning cash into BTC. Among this week’s buyers are Capital B with 58 BTC, Coinsilium Group (12 BTC), and Sequans (755 BTC). The cut-off to joining the Bitcoin 100 list for the largest treasuries is now 29 BTC, with 37 companies holding over 1,000 BTC. 

The buying is a mix of sporadic spot additions of more BTC, or mixed strategies with inflows from mining. Mara Digital Holdings broke above 50K BTC with more gradual inflows from its mining operations. 

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