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CryptoQuant: The strategy should pause buying Bitcoin and prioritize rebuilding cash reserves

MeNews
ME News Report, June 24 (UTC+8), CryptoQuant states that Strategy, under Michael Saylor, should currently pause its Bitcoin purchases and instead prioritize rebuilding cash reserves, as its dividend obligations have significantly increased, cash reserves have sharply declined, and unrealized Bitcoin losses have expanded. CryptoQuant research director Julio Moreno pointed out that the preferred stock STRC last week fell to $82.50, a 17.5% discount from its $100 face value, marking the largest discount in history. This pressure stems from the Bitcoin bear market environment and the company's decreasing cash buffer capacity. The report states that Strategy recently repurchased $1.5 billion of 0% convertible preferred notes due 2029, further reducing the cash buffer available to support STRC dividend payments. Meanwhile, the company's cash reserves have decreased by 38% since early 2026. On the other hand, as Strategy issued more STRC to finance Bitcoin purchases, its annualized dividend obligation has risen from about $300 million at the beginning of the year to approximately $1.2 billion now, nearly quadrupling in less than six months. CryptoQuant believes the company should increase selectivity in buying Bitcoin rather than continuing to indiscriminately accumulate during heightened cash pressure. (Source: ODAILY)
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