# Why Bitcoin Is Stuck at $80,000

**Speaker 1:** [00:00](https://www.youtube.com/watch?v=d6ps7vMQtfM&t=0) And it lands while the biggest buyer on earth is mostly on the sidelines. Last week, Strategy bought only 250 Bitcoin and spent $192 million buying back its own preferred stock, Stretch, instead, because that stock is trading at $99.85—a hair under the $100 price where Strategy can start selling more of it in order to buy Bitcoin. Once it's back over $100, Strategy can issue again, and that money goes straight into Bitcoin.

![On-screen Strategy card showing 250 BTC bought, a $192M preferred buyback, and STRC at $99.85 (00:20).](figures/frame_0020000.png)

Bitcoin held $80,000 with its biggest buyer barely buying, so a scary MSCI headline is a short-term problem, while Strategy switching its buying back on is the bigger long-term story.