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Strategy says its $4.65B dollar reserve extends its liquidity runway

The company reported it increased its dollar reserve by $650 million after selling Bitcoin and MSTR shares, pushing its stated cash coverage to about 2.7 years.

Reported · Written up by our desk · Market Structure

Strategy disclosed that it held 840,447 BTC as of Aug. 9 and is treating its Bitcoin reserve as balance-sheet flexibility to meet dollar obligations. In a post cited by CryptoSlate, Michael Saylor said Strategy sold $108 million in Bitcoin and $653 million in MSTR shares to increase its dollar reserve by $650 million.

Saylor also said Strategy repurchased $109 million of STRC, its variable-rate preferred stock, and that the moves lengthened what he called its dollar duration by 143 days to 2.7 years. CryptoSlate noted the timing aligns the three transactions, but that the company did not prove each dollar from the Bitcoin sale directly funded the preferred-stock repurchase.

In the same update, Strategy put its Bitcoin reserve at 840,447 BTC as of Aug. 9, after earlier guidance that coverage was 2.3 years, already above its one-year minimum. CryptoSlate said Strategy’s success now hinges on maintaining enough flexibility to meet dividends and interest while retaining control over when and how much Bitcoin it sells.

CryptoSlate also pointed to additional commentary estimating that Strategy sold about $213 million of Bitcoin over two weeks, roughly 0.4% of its position, framing the activity as small, voluntary steps to protect liabilities rather than a panic response. The outlet said Strategy’s latest posts emphasize extending the “dollar runway” while keeping a large BTC reserve.

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