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Saylor’s Strategy Strengthens Liquidity Position but Long-Term Bitcoin Plan Still Faces Scrutiny

American business intelligence firm Strategy has bolstered its financial position by addressing liquidity concerns raised earlier this year. In a July 14 follow-up, the on-chain analytics firm CryptoQuant said the company’s new capital framework has eased short-term financial pressure. The firm, however, noted that questions remain about Strategy’s long-term Bitcoin strategy.

について update follows CryptoQuant’s June 23 assessment, which warned that Strategy’s cash reserves were shrinking even as Bitcoin purchases continued. At the time, analysts estimated the company had enough liquidity to cover preferred dividend obligations for only about 14 months without additional funding.

Strategy Rolls Out New Capital Framework

To address those concerns, Strategy introduced its Digital Credit Capital Framework on June 29 to strengthen its financial flexibility. The plan established a board-approved U.S. dollar reserve policy that initially targeted about $2.55 billion before later raising the goal to roughly $3 billion.

The framework also raised the STRC dividend rate to 12% and approved up to $1 billion each for preferred securities issuance and MSTR share repurchases. It also introduced a Bitcoin Monetization Program, allowing the company to sell up to $1.25 billion in Bitcoin to support reserves and funding needs.

The on-chain analytics firm said the measures are closely aligned with recommendations made in its earlier report. Strategy also paused additional Bitcoin purchases and sold 3,588 BTC worth about $216 million between June 29 and July 5. It further raised $466.7 million through its MSTR at-the-market share offering.

As a result, cash reserves rose from roughly $1.44 billion to about $3 billion, extending estimated dividend coverage to around 29 months. During the same period, Strategy maintained its Bitcoin holdings at approximately 843,775 BTC by suspending further accumulation.

Questions Over Future Bitcoin Management Remain

According to CryptoQuant, the market has responded positively to the stronger liquidity position, although some uncertainty remains. STRC recovered from a June low near $75 to around $88 but continued trading below its stated value of $100.

Even so, analysts said the framework does not explain when Bitcoin purchases could resume after the recent pause. They also said the Bitcoin Monetization Program prioritizes dividends, reserves, and share repurchases without defining a clear Bitcoin trading strategy.

ポスト Saylor’s Strategy Strengthens Liquidity Position but Long-Term Bitcoin Plan Still Faces Scrutiny に初登場した。 クリプトポテト.


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