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Strategy boosts USD cash to back preferred securities

Strategy said its U.S. dollar reserve rose to $4.65 billion and it has sold nearly 7,000 BTC since late June 2026 to support credit issuance, despite Bitcoin not generating cash flow.

Reported · Written up by our desk · Market Structure

Bitcoin Magazine reports that Strategy’s U.S. dollar reserve has grown to $4.65 billion, up from $3.75 billion two weeks earlier, while the company has sold almost 7,000 BTC since late June 2026.

The outlet says the buildup of cash is intended to support Strategy’s role as an issuer of digital credit, specifically preferred securities backed by its large Bitcoin balance sheet, which creates fixed dollar dividend obligations.

According to Bitcoin Magazine, because Bitcoin itself produces no cash flow and Strategy’s software business generates too little cash to cover its capital structure, holding dollars is used to provide the liquidity needed for its credit instruments.

The piece also notes that S&P assigned Strategy a B- rating in October 2025, citing Bitcoin concentration, weak dollar liquidity, and very weak risk-adjusted capital, and describes how additional cash liquidity is viewed as potentially improving perceived safety and investor demand for the preferred securities.

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