Bitcoin Giant Strategy Establishes $1.44 Billion USD Reserve—But Still Might Sell BTC

Core Viewpoint - Strategy has established a $1.44 billion U.S. dollar reserve to ensure continuous dividends, even during Bitcoin downturns, while maintaining a 3.1% stake in total Bitcoin supply [1][2]. Group 1: Financial Strategy - The USD reserve was created by selling MSTR equity over nine days, with a goal to secure at least 12 months of dividends, aiming to expand this to 24 months [2]. - The company plans to deliver a digital credit product to investors averse to Bitcoin's volatility, ensuring that dividends remain unaffected by market fluctuations [3]. Group 2: Market Position and Operations - Strategy holds a reserve of 650,000 BTC, valued at approximately $56 billion, representing about 3.1% of the total Bitcoin supply, including recent purchases [5]. - The company has shifted its business model from intelligence software solutions to becoming a leading digital asset treasury company since 2020 [5]. Group 3: Future Considerations - The CEO indicated that if the market-adjusted net asset value (mNAV) falls below 1, the company would consider selling Bitcoin to finance dividends, countering skepticism about its willingness to do so [3][4][7]. - The company can sell appreciated Bitcoin to pay dividends while potentially increasing its Bitcoin holdings each quarter [5].