Core Viewpoint - The company has established a $1.44 billion cash reserve to alleviate investor concerns regarding its ability to meet dividend and debt obligations amid a potential downturn in the Bitcoin market [1][3][8]. Group 1: Cash Reserve and Investor Confidence - The cash reserve is intended to secure at least 12 months of dividend payments, with plans to extend this buffer to 24 months [3][4]. - The reserve was funded through a stock sale, demonstrating the company's capability to attract capital even during market downturns [5][8]. - The CEO emphasized that the firm would only consider selling Bitcoin if its stock price fell below net asset value (NAV) [5][8]. Group 2: Market Context and Strategic Shift - Recent weeks have seen increased speculation about the company's ability to maintain dividend payments as Bitcoin prices declined [3][4]. - The company has transitioned from a "buy Bitcoin at all costs" strategy to a dual-reserve treasury model, combining long-term Bitcoin holdings with a growing cash buffer [7]. - A new "BTC Credit" dashboard has been introduced, indicating that the company holds sufficient assets to cover dividends for over 70 years [6].