Key Takeaways
- Strategy shares fell sharply as the company added 130 BTC and expanded its long term reserve.
- The firm now holds 650,000 BTC and has set aside $1.44 billion to stabilize upcoming obligations.
Strategy shares fell 12% today during another volatile session for the crypto market. The Bitcoin-focused treasury firm, led by executive chairman Michael Saylor, continues to trade in close correlation with Bitcoin price movements due to its large and growing digital asset reserves.
The move comes as Bitcoin has dropped more than 7% since Sunday, adding further pressure to Strategy’s stock with Bitcoin now trading near the $85,000 level.
Despite the market backdrop, Michael Saylor announced earlier today that Strategy acquired an additional 130 BTC, bringing its total holdings to 650,000 BTC. He also disclosed that the company has established a $1.44 billion reserve intended to support dividend and interest payments.
The reserve was funded through recent ATM stock sales and is designed to provide financial stability. Strategy plans to expand the reserve further to ensure coverage for at least 24 months of obligations as part of its updated treasury management plan.
Source: https://cryptobriefing.com/strategy-shares-down-12-percent-market-volatility/
