I know a few funds that were shorting MSTR/STRC for the single reason of the "low" USD reserve of around 6/7 months.


But once Strategy showed they had 18 months of runway they backed off.
They said, 18 months cash on hand is a widely used rule of thumb, sitting between the 12-month floor that satisfies lenders and covenants, and the 24-month fortress level that signals credit strength.
I would expect MSTR has raised more USD this week to increase the USD reserve as they are currently below 18 months.
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