Catenaa, Wednesday, November 26, 2025- Bitcoin-focused firm Strategy did not purchase any Bitcoin last week, breaking a multi-week buying streak, as its stock price lingered near a 14-month low, according to TD Cowen.
The company’s shares are down 38% this year and have fallen 67% from last year’s peak of $543.
Analyst Lance Vitanza said Strategy did not issue any securities through its at-the-money programs or acquire additional Bitcoin, a departure from its usual early-week announcements.
The firm owns nearly 650,000 Bitcoin valued at $57.8 billion.
Bitcoin traded near $89,000 Monday after a low of $82,175 last week, down from a high of $126,000 last month.
Market watchers flagged potential consequences if Strategy is removed from MSCI indices in February. JPMorgan analysts warned outflows could reach $11.6 billion if similar companies follow suit.
Vitanza described Strategy as a public operating company with a $500 million software business and a treasury strategy that uses Bitcoin as productive capital, distinguishing it from investment funds that MSCI considers ineligible.
Earlier this month, the firm’s market capitalization fell below the value of its Bitcoin holdings, limiting its ability to expand its Bitcoin per-share stake via common stock issuance.
Strategy has increasingly relied on preferred shares to fund Bitcoin purchases, offering dividends while continuing its digital asset accumulation.
Investors remain divided on Bitcoin’s near-term price. A Myriad prediction market shows 69% expect BTC to rise to $100,000, while the remainder forecast a decline to $69,000.
