• Strategy purchased 1,550 BTC for $101.3 million last week, increasing its total Bitcoin holdings to 845,256 BTC.
• The firm's shareholders approved changes to its STRC preferred stock, shifting dividend payments from monthly to a semi-monthly schedule starting in late June.
• Strategy's 32 BTC sale last week triggered sharp downward pressure on market sentiment, nuking BTC toward $60,000.

Bitcoin (BTC) treasury firm Strategy bought 1,550 BTC last week for roughly $101.3 million, according to a Form 8-K filing on Monday. The purchase, made at an average price of $65,332 per Bitcoin, was funded through proceeds from the company's at-the-market (ATM) equity offering program.

The company sold 1.41 million shares of its Class A common stock (MSTR), generating proceeds that helped replenish its USD Reserve to approximately $1 billion. Following the acquisition, Strategy's total Bitcoin holdings increased to 845,256 BTC.

The company's latest purchase comes a week after it disclosed the sale of 32 BTC to settle growing obligations tied to its preferred stock offerings. The move accelerated risk-off sentiment in Bitcoin, pushing the top crypto toward the $60,000 mark.

Strategy adjusts STRC dividend schedule

Strategy disclosed that its shareholders approved amendments to its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), changing dividend payments from monthly to semi-monthly.

Starting in late June, record dates will fall on the 15th and final day of each month, with payments made on the subsequent record date.

"We're grateful to our shareholders for their strong support of this proposal. Moving STRC to a semi-monthly dividend cadence reflects our commitment to continuous innovation on behalf of our holders," Strategy President and CEO Phong Le said in a statement.

The company noted that the change is intended to improve liquidity, reduce price cyclicality and provide investors with more frequent opportunities to reinvest dividends.

Strategy remains major driver for Bitcoin sentiment amid cautious trading environment

Strategy's treasury activities have become a major driver of Bitcoin market sentiment in recent weeks, according to analysts at QCP Capital.

The firm noted that uncertainty surrounding STRC, which continues to trade below par value, has weighed on investor sentiment. Market participants have been closely monitoring whether Strategy would need to sell additional Bitcoin or pursue new financing measures to support dividend obligations tied to its preferred stock offerings.

"Investors are closely watching how the company plans to stabilise STRC and whether additional BTC sales or financing measures may be required to support dividend coverage," QCP wrote.

QCP also noted that options markets continue to reflect a cautious stance among traders. The firm said one-month implied volatility remains elevated at around 45% for Bitcoin and 65% for Ethereum (ETH), while risk reversals remain skewed toward put options, a sign that investors continue to hedge against downside risk.

"The message from vol[atility] is fairly blunt: investors are not abandoning risk, but they are paying to keep their seatbelts fastened," QCP wrote.

Despite recent weakness across global markets, QCP said Bitcoin has found support near $60,000 after falling roughly 15% last week. The firm noted that the market has so far absorbed continued selling pressure, including outflows from spot Bitcoin exchange-traded funds (ETFs).

The analyst also pointed to an apparent easing in crypto's correlation with traditional risk assets. While digital assets lagged the previous equity market rally, QCP said the next key test will be whether Bitcoin can maintain stability if equity markets recover from recent weakness.

BTC is trading at $63,370 at the time of writing on Monday, up 3% over the past 24 hours.