According to Strategy’s Q2 earnings call, the company has halted additional Bitcoin purchases while continuing to sell some of its holdings. Despite this, Strategy reported a 25% increase in its BTC holdings since the start of the year. The firm sells Bitcoin to replenish USD reserves, fund preferred dividends and interest payments, and support share buybacks. Retail investors, however, do not face similar obligations and may not need to follow this pattern. Bitcoin remains in a bear market since late 2025 due to macroeconomic uncertainty and geopolitical tensions, but its four-year cycle suggests a potential new peak in 2029.
Strategy, one of the world’s largest Bitcoin holders, has stopped purchasing additional BTC according to its Q2 earnings call. The company continues to sell some of its holdings, yet reported a 25% increase in BTC holdings since the beginning of the year.
The firm stated it will continue selling Bitcoin to replenish its USD reserve, fund preferred dividends and interest payments, and support share buybacks. These are core operational needs that require selling BTC.
Unlike a large corporation, a retail investor does not need to sell Bitcoin for dividends or share buybacks. Therefore, retail players need not follow Strategy’s pattern.
Bitcoin entered bear territory in late 2025 after increased macroeconomic uncertainty and geopolitical tensions. The situation worsened after the US-Iran conflict earlier this year.
Inflation remains above the 2% target and interest rates are still high. This environment is not optimal for Bitcoin to flourish.
Bitcoin has hit new peaks every four years: 2017, 2021, and 2025. If it maintains this pattern, it may reach a new all-time high in 2029, with potential upward momentum starting in 2027. Strategy could ramp up its BTC purchases ahead of the next bull run.
