JPMorgan warns Strategy Inc. must rebuild dollar reserves after selling 32 BTC, with cash covering only 6.3 months of $1.7B in annual dividend obligations.

Strategy’s first Bitcoin sale rattles investors as JPMorgan targets CLARITY and Capital B seeks approval for a massive Bitcoin buying war chest.

JPMorgan said crypto's outlook depends on Strategy's dividend plan and the Clarity Act, for which it now sees less than a 50% chance of passage this year.