Strategy, the company formerly known as MicroStrategy, saw its combined USD reserves and cash drop by $176 million, landing at $6,538 million. That’s still a massive pile of dollars for a company whose entire identity revolves around holding Bitcoin, but it marks a notable dip from the roughly $6.7 billion the firm had stockpiled as recently as late August.
Where the money went
Strategy’s cash obligations are not trivial. The company carries approximately $1.7 billion in annual preferred stock dividends and interest payments.
The firm’s dollar holdings break down into two buckets. The core USD Reserve sits at roughly $5.1 billion, earmarked primarily for dividend and interest support. The remaining USD Cash pool ranges between $1.59 billion and $1.614 billion, serving as the more flexible portion of the balance sheet.
The no-sell Bitcoin doctrine
