Large Investors in Bitcoin Strategy (formerly MicroStrategy) have slowed down their purchasing pace ahead of Christmas. According to a filing submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, Strategy did not purchase any Bitcoin last week, ending two weeks of aggressive accumulation, and shifted to strengthening its financial moat by investing $748 million into “dollar reserves.”
This investment has increased Strategy's cash reserves from 1.44 billion USD to 2.19 billion USD, enough to cover the company's preferred stock dividend payments for the next 32 months.
The “US Dollar Reserve” established in early December this year has a core purpose of supporting the company's dividend payments through cash buffers, while also providing flexible liquidity for the company during its expansion and coin accumulation strategy.
Through dollar reserves, Strategy is able to prove the company's debt repayment ability to creditors and shareholders, ensuring that even if the coin market experiences a significant withdrawal, it does not need to be forced to sell Bitcoin to pay dividends.
Strategy currently holds 671,268 Bitcoins, worth approximately 5.91 billion USD, maintaining a holding scale at historical highs. Looking back over the past two weeks, Strategy has bought more than 21,000 Bitcoins in total, spending about 1.9 billion USD.
In terms of market reaction, with Bitcoin rebounding slightly over the weekend, MSTR was up about 3% in pre-market on Monday. However, looking at a longer time frame, the stock is still down over 40% so far this year.
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Tags: Michael Saylor MicroStrategy MSTR Strategy Reserve Hoarding Coin MicroStrategy Bitcoin Cash USD
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