HomeLatest NewsMicroStrategy pauses preferred-share sales, halts Bitcoin funding

MicroStrategy pauses preferred-share sales, halts Bitcoin funding

Posted: 4 May 2026, 14:09 CET 2 min read

MicroStrategy paused its four preferred-share classes April 27–May 3, cutting off preferred-stock funding for April’s $2.54B Bitcoin purchase; MSTR common raised $82M.

A Securities and Exchange Commission 8-K filed Monday shows MicroStrategy recorded no sales of its four preferred-share classes-STRF, STRC, STRK and STRD-between April 27 and May 3. The pause ended preferred-stock issuance that helped finance the company’s large April Bitcoin purchases.

During the seven-day window the company sold 492,210 Class A shares under its MSTR program, generating $82 million in net proceeds. The filing states none of those proceeds were used to acquire Bitcoin during the period.

Combined available capacity across the four preferred classes remained above $27 billion, and available capacity under the MSTR at-the-market program exceeded $26.4 billion, according to the filing.

The financing pattern in mid-April differed: between April 13 and 19 MicroStrategy used preferred-stock issuance and its MSTR program to fund a $2.54 billion Bitcoin purchase. One preferred class, STRF, raised $2.18 billion in that span, while the MSTR program contributed about $366 million.

Executive Chairman Michael Saylor posted on social media that no Bitcoin purchases would take place in the current week and indicated trading activity could resume seven days later.

MicroStrategy reports first-quarter results Tuesday after the close. Wall Street consensus calls for a loss near $0.86 per share on roughly $123 million in revenue. Options markets are pricing in an expected post-earnings move of about 8 percent in MSTR shares.

The company holds 818,334 Bitcoin at an average cost of $75,532 per coin, the filing shows. With Bitcoin trading near $78,967, the stake is valued at about $64.6 billion, implying roughly $2.7 billion in unrealized gains. The 8-K indicates no additions to the company’s Bitcoin holdings during the April 27–May 3 period.

Investors and analysts will review Tuesday’s earnings report and the conference call for details on whether the preferred-share pause related to pricing, regulatory matters or quarter-end accounting. For now, MSTR common stock was the only active vehicle used to raise capital in the week covered by the filing.