Hardik Shah
2026.06.25 15:05

๐Ÿ“Š ๐ˆ๐๐•๐„๐’๐“๐Ž๐‘ ๐๐Ž๐“๐„: CryptoQuant Urges $Strategy(MSTR.US) Strategy to Pause Bitcoin Buying, Rebuild Cash Reserves

๐Ÿ‘‰ ๐Š๐ž๐ฒ ๐‡๐ข๐ ๐ก๐ฅ๐ข๐ ๐ก๐ญ๐ฌ:

โžค CryptoQuant recommended ๐’๐ญ๐ซ๐š๐ญ๐ž๐ ๐ฒ pause Bitcoin purchases and rebuild cash reserves.

โžค Report urged a ๐ฌ๐ฒ๐ฌ๐ญ๐ž๐ฆ๐š๐ญ๐ข๐œ, fundamentals-driven approach to future Bitcoin buying.

โžค Strategy's ๐”๐’๐ƒ ๐œ๐š๐ฌ๐ก ๐ซ๐ž๐ฌ๐ž๐ซ๐ฏ๐ž fell ๐Ÿ‘๐Ÿ–% since the start of 2026.

โžค Annualized ๐๐ข๐ฏ๐ข๐๐ž๐ง๐ ๐จ๐›๐ฅ๐ข๐ ๐š๐ญ๐ข๐จ๐ง๐ฌ have roughly quadrupled this year.

โžค Cash reserves stood at ๐Ÿ.๐Ÿ’ ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง as of Sunday, according to a filing.

โžค Dividend coverage declined to ๐Ÿ๐Ÿ’ ๐ฆ๐จ๐ง๐ญ๐ก๐ฌ from more than seven years.

โžค CryptoQuant estimates Strategy needs about ๐Ÿ.๐Ÿ– ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง in cash reserves for STRC recovery.

โžค Strategy holds about ๐Ÿ“๐ŸŽ ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง in Bitcoin but faces ๐Ÿ๐ŸŽ.๐Ÿ” ๐›๐ข๐ฅ๐ฅ๐ข๐จ๐ง in unrealized losses.

โžค Strategy shares fell over ๐Ÿ’๐Ÿ‘% in June, while STRC dropped to ๐Ÿ•๐Ÿ—.๐Ÿ–๐Ÿ“.

๐Ÿ‘‰ ๐–๐ก๐ฒ ๐ˆ๐ญ ๐Œ๐š๐ญ๐ญ๐ž๐ซ๐ฌ:

โžค Weaker liquidity could increase pressure on Strategy's ๐œ๐š๐ฉ๐ข๐ญ๐š๐ฅ ๐ฌ๐ญ๐ซ๐ฎ๐œ๐ญ๐ฎ๐ซ๐ž.

โžค Continued Bitcoin purchases during a downturn may elevate ๐Ÿ๐ข๐ง๐š๐ง๐œ๐ข๐š๐ฅ ๐ซ๐ข๐ฌ๐ค.

โžค The report raises concerns about Strategy's ability to support ๐’๐“๐‘๐‚ dividend obligations.

๐Ÿ‘‰ ๐„๐ฑ๐ฉ๐ž๐ซ๐ญ ๐’๐ญ๐š๐ญ๐ž๐ฆ๐ž๐ง๐ญ:

โžค "Strategy should develop a systematic, fundamental-driven approach to bitcoin purchase timing rather than buying whenever capital is available." โ€” ๐‰๐ฎ๐ฅ๐ข๐จ ๐Œ๐จ๐ซ๐ž๐ง๐จ, Head of Research at CryptoQuant.

โžค "Buying at cycle tops and accumulating during bear markets has resulted in rapid unrealized loss growth and deteriorating STRC fundamentals." โ€” ๐‰๐ฎ๐ฅ๐ข๐จ ๐Œ๐จ๐ซ๐ž๐ง๐จ.

โžค "Strategy's bitcoin holdings provide limited emergency relief, as the company currently holds an aggregate unrealized loss of $10.6 billion. All bitcoin purchased in 2024, 2025, and 2026 is underwater." โ€” ๐‰๐ฎ๐ฅ๐ข๐จ ๐Œ๐จ๐ซ๐ž๐ง๐จ.

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