Strategy Needs to Stop Buying Bitcoin, Warns CryptoQuant, as Cash Reserves Fall 38%

Kurt Robson

Wed, June 24, 2026 astatine 5:12 AM CDT 4 min read

Key Takeaways

• CryptoQuant warns Strategy to halt buying Bitcoin.

• STRC's record-low terms raises concerns astir funding.

• Critics spot broader risks for Bitcoin.

Shares of Strategy remained nether unit this week arsenic crypto analytics steadfast CryptoQuant warned the institution should halt further Bitcoin purchases and rebuild its currency reserves.

The informing comes arsenic Strategy's Stretch preferred banal (STRC) continues to commercialized astatine grounds lows, raising caller questions astir the sustainability of the financing exemplary underpinning Executive Chairman Michael Saylor's assertive Bitcoin accumulation strategy.

Strategy's Cash Should Be Priority

In a study published Monday, CryptoQuant said Strategy's annualized dividend obligations person astir quadrupled to $1.2 cardinal portion its currency reserve has fallen 38% since the commencement of 2026.

"Strategy needs to halt buying Bitcoin and rebuild cash," CryptoQuant wrote.

The steadfast argued that the company's fiscal flexibility has deteriorated importantly arsenic dividend commitments person expanded and disposable liquidity has declined.

According to CryptoQuant, Strategy's dividend sum has collapsed from much than 7 years to conscionable 14 months.

This has near the institution progressively babelike connected superior markets to support capitalist confidence.

The steadfast said rebuilding currency reserves to astir $2.8 cardinal — equivalent to astir 24 months of dividend sum — should go a strategical precedence earlier further Bitcoin purchases are considered.

"Rebuilding the currency reserve is simply a indispensable information for STRC to recover," CryptoQuant wrote.

The study besides warned that Strategy's Bitcoin holdings connection constricted downside protection.

The institution presently sits with an estimated $10.6 cardinal successful unrealized losses connected Bitcoin acquired successful 2024, 2025, and 2026, according to CryptoQuant.

"Any forced BTC merchantability astatine existent prices would crystallize ample losses and destruct shareholder value," the steadfast said.

STRC Continues Trading Near Record Lows

The informing arrives arsenic STRC remains good beneath its intended $100 notation value, trading astir $87.31.

STRC plays a captious relation successful Strategy's broader Bitcoin acquisition strategy due to the fact that preferred banal offerings person go 1 of the company's superior mechanisms for raising superior to acquisition further Bitcoin.

When preferred shares commercialized materially beneath par value, Strategy's quality to contented caller securities becomes little charismatic and perchance much expensive.

In caller weeks, capitalist concerns intensified aft comments from Saylor resurfaced online showing helium had relied heavy connected AI portion processing the mechanism.