Strategy's Bitcoin buying slows sharply as STRC demand cools

Bitcoin treasury firm Strategy bought 3,273 BTC last week, down about 91% from the prior week's 34,164 BTC purchase that cost $2.54 billion, Decrypt reported. Analysts link the pullback to softer market appetite for the company's perpetual preferred stock, STRC. STRC's 11.5% monthly dividend had helped power Strategy's biggest Bitcoin accumulation in nearly 16 months. Since the April 14 ex-dividend date, STRC has traded below the $100 target range, leading Strategy to raise funds last week through the issuance of 1.4 million common shares. Michael Saylor is reportedly considering shifting STRC dividend payments to a biweekly schedule to reduce the cyclicality of the firm's buying pace.