Why Strategy Stopped Buying Bitcoin: A Pause, Not a Change in Conviction via @cryptoquant_com Strategy surprised the market by reporting no Bitcoin purchases between July 20 and July 26. Instead, the company sold 5.43 million MSTR shares, raising approximately $544.5 million, while repurchasing $25 million of STRC preferred shares. At first glance, the lack of Bitcoin buying may appear bearish. Strategy has been one of the largest corporate buyers of Bitcoin, and its weekly purchases have often supported market sentiment. However, the key point is that Strategy did not sell any Bitcoin. Its holdings remain unchanged at 843,775 BTC, acquired at an average cost of $75,476 per coin. The bigger story is the company's growing liquidity. Strategy's U.S. dollar reserve has increased to $3.75 billion, giving it substantial buying power if attractive market opportunities emerge. Historically, the company has repeatedly raised capital through equity and debt markets before deploying it into Bitcoin during favorable conditions. At XWIN, we believe this is a tactical pause rather than a change in Strategy's long-term Bitcoin thesis. The long-term accumulation trend remains intact, while the larger cash position suggests the company is preparing for its next move rather than stepping away from Bitcoin. For investors, the focus should not be on one week without purchases, but on Strategy's continued commitment to Bitcoin as a long-term treasury asset. https://t.co/w3JdTqEAq9