Strategy boosts USD reserve with $748M stock sale, skips Bitcoin purchases

In a significant financial move, Strategy has recently completed a stock sale generating approximately $748 million, pushing its total cash reserves to an impressive $2.19 billion. This decision comes at a time when the company is reassessing its asset allocation strategies in light of ongoing challenges in the cryptocurrency market.

Stock sale boosts cash reserves to over $2 billion

During the week of December 15 to 21, Strategy sold around 4.5 million shares of its Class A common stock. This sale, part of an at-the-market offering program, yielded net proceeds of $747.8 million. According to Michael Saylor, the executive chairman of Strategy, the company now holds a total of 671,268 Bitcoin, which was acquired at an aggregate cost of $50.33 billion, averaging about $74,972 per Bitcoin.

Company pauses Bitcoin purchases amid market downturn

Despite its substantial Bitcoin holdings, Strategy has opted to pause any further purchases of the cryptocurrency. The decision to halt acquisitions comes as the crypto market faces a downturn, prompting the company to rebalance its asset allocation. The last significant Bitcoin purchase occurred on December 15, when Strategy acquired 10,645 BTC for $980.3 million, at an average price of $92,098 per Bitcoin.

New US dollar reserve set up to support dividend payments

In early December, Strategy announced the creation of a US dollar reserve, initially set at $1.44 billion. This reserve is intended to cover at least twelve months of dividend payments and interest on outstanding debts. The company aims to gradually strengthen this reserve to eventually cover 24 months or more of its dividends, which reflects a strategic focus on financial stability amid market volatility.

Stock performance highlights challenges for Bitcoin treasury companies

The recent stock performance of Strategy has also drawn attention, as its shares have declined nearly 50% over the past year. This decline mirrors a broader trend among companies that have adopted similar Bitcoin treasury models. For instance, Metaplanet, which ranks as a significant corporate Bitcoin holder, has seen its shares drop by about 75% in the last six months. Meanwhile, MARA Holdings, a leading Bitcoin mining entity, has experienced a 38% decline in its stock value in 2025. As Bitcoin prices hover around $89,433, down roughly 4.4% over the past year, these market dynamics present ongoing challenges for companies heavily invested in cryptocurrency.

As Strategy adjusts its financial strategies and pauses Bitcoin purchases, the implications for both the company and the broader market remain to be seen. Investors and market participants will be closely watching how these moves affect the company's future performance and the cryptocurrency landscape at large.