Michael Saylor's Strategy Resumes Bitcoin Accumulation Amid Market Dynamics
Michael Saylor's Strategy (MSTR) is poised to restart its Bitcoin (BTC) accumulation after a brief pause, with its STRC preferred stock likely funding new crypto purchases this week. According to Cointelegraph, Strategy may acquire at least $76.25 million in Bitcoin, potentially boosting BTC prices to $80,000 by April. On Tuesday, STRC closed at $100.02, slightly above its $100 par value, allowing Strategy to issue new shares, raise capital, and invest in Bitcoin. Estimates from STRC.LIVE indicate that Strategy had raised enough by Tuesday's close to fund the purchase of over 1,085 BTC, with the weekly total exceeding 1,111 BTC, equivalent to approximately $76.25 million. This marks a shift from the previous week when STRC traded mostly below par, generating no estimated BTC purchases. As of late March, the company held 762,099 BTC at an average acquisition price of about $75,694, according to its latest filings.
The reopening of Strategy's buying window has coincided with a rebound in Bitcoin prices. Since Tuesday, BTC/USD has climbed over 5%, briefly reaching nearly $69,300. This movement reflects earlier gains observed during periods when Strategy actively raised capital through STRC to purchase Bitcoin. For instance, in the week ending March 15, Bitcoin rose more than 10% despite weak broader risk sentiment, while Strategy acquired 22,337 BTC worth about $1.57 billion. However, Bitcoin fell 14.55% over the subsequent two weeks, roughly aligning with Strategy's pause in purchases as STRC slipped below its $100 par value. On March 23, Strategy announced a $44.1 billion capital-raising capacity to buy more Bitcoin via the sales of STRC and other preferred stocks, indicating its continued role as a significant source of Bitcoin demand in the coming months.
From a technical perspective, Bitcoin's rebound began after retesting the lower boundary of its prevailing bear flag pattern as support. BTC could advance toward the flag's upper trendline near $80,000 in April if the recovery gains further traction, particularly if boosted by renewed Strategy buying and signs of easing Iran war tensions. The $80,000 upside target also aligns with the 50-period exponential moving average on the three-day chart, making the area a key near-term resistance zone. Conversely, Bitcoin risks losing the flag's lower trendline support and confirming the pattern's typical bearish breakdown if those supportive catalysts fade. In that scenario, the measured downside target would be near the $49,000–$50,000 zone, aligning with past projections shared by multiple analysts.
