The bitcoin market would be left this week without its main driver of demand.
Weeks ago, Strategy had revealed that it could sell bitcoin to buy convertible notes.
Michael Saylor, president of Strategy (formerly MicroStrategy), confirmed on May 24, 2026 a temporary pause in his company’s acquisition of bitcoin (BTC).
Through his account on the social network X, Saylor wrote: «this week we bought bonds, not bitcoin. The ₿itVac [aspiradora de bitcoin] “It’s recharging.”
This statement empirically confirms the market analysis recently published by the firm 10x Research, which was reviewed by CriptoNoticias, which establishes that Strategy operates under a strict time cycle.
According to the data confirmed in said report, Strategy’s demand is mostly concentrated in the weeks prior to the 15th of each month. That is the deadline for investors to purchase preferred shares (STRC) and apply for a 11.5% dividend, a mechanism that funds the purchase of bitcoin. After that date, cash purchases are paused or slowed down for about three weeks.
Although Saylor did not make explicit the technical objective of this operation, it is a well-founded financial assumption to deduce that the company would be using traditional fixed income instruments to park and make its liquidity profitable.
As 10x Research has shown, Strategy’s bitcoin purchases (or pause in purchases) have a demonstrable direct impact on the ecosystem. The data analyzed reveals that this single entity—which is the publicly traded company with the most bitcoin in its treasury—has injected $11.4 billion of the $16 billion that entered bitcoin in 2026, representing 70% of total demand.
For this reason, with retail interest in decline and exchange-traded funds (ETFs) showing several days of capital outflows, Strategy’s decision to purchase bonds this week could leave the market momentarily devoid of its main driver of demand structural contributing, perhaps, to a fall in prices.
CriptoNoticias has reported this morning that some analysts believe that the next movements for bitcoin will be bearish and that the “crypto winter” is not over yet.
It is worth clarifying that Strategy has not yet announced where it got the money to make this bond purchase. nor how much the amount is. On May 15, the company anticipated that it could partially sell its bitcoin holdings to buy convertible notes. This has led some people to ask him Saylor on X if they are selling BTC to buy bonds. The answer will probably be known in the next few hours or days when the company’s updated accounting balances are revealed.
For now, according to portal data BitcoinTreasuriesStrategy maintains 843,738 BTC in its treasury and does not report sales of the digital currency. Official balance sheets are awaited to clarify the origin of the money.