Michael Saylor's Bitcoin Treasury Company Strategy Goes Fourth Consecutive Week Without Buying Any BTC
The Bitcoin treasury firm Strategy (MSTR) has now gone four consecutive weeks without purchasing any BTC. The company announced on Monday that it increased its U.S. dollar reserves by $225 million over the past week, though it refrained from buying any new Bitcoin. This marks the second consecutive week without buying or selling BTC, following a prior week where it added $450 million to its cash reserves. Those announcements came after a two-week period where the firm sold a total of 3,588 BTC for $216 million under its newly introduced BTC monetization program, designed to bolster cash reserves and support dividend payments. Strategy still holds 843,775 Bitcoin worth $54.9 billion at current prices, along with $3.2 billion in cash reserves. Chaitanya Jain, Strategy’s head of Bitcoin product and investor strategy, stated that the firm’s dividend coverage now stands at 1.8 years through their USD Reserve and 31 years through their BTC Reserve. Strategy was the first public company to adopt Bitcoin as its sole treasury reserve asset and remains the world’s largest corporate BTC holder. The firm’s stock, MSTR, is down nearly 38% year-to-date but up more than 3% in the past five days.