MSTR社の現金準備が、25億4000万ドル相当のビットコイン購入の後、急速に減少している。アナリストたちは、米ドル建ての準備金が減少していることに「衝撃」を受けている

[라온]

Key points:
Strategy bought 34,164 Bitcoin for approximately $2.54 billion over the past week.
Analysts say Strategy’s cash reserves have fallen to about 18 months of dividend coverage.
The firm previously targeted 24 months of coverage, implying a shortfall.
Shares of Michael Saylor-backed Strategy (MSTR) edged lower in midday trade on Monday despite reporting their largest Bitcoin (BTC) purchase of 2026 so far, with some analysts warning that the company’s aggressive accumulation strategy is quickly eating into its cash buffer.

In a post on X, analyst Ted Pillows said Strategy’s cash reserves are “depleting fast.” He flagged that Strategy has enough cash to cover 18 months of dividends, down from 24 months two weeks ago. “If this continues, more MSTR shares will be issued, thus diluting the shareholders,” he stated.

When MSTR launched its USD reserve last year, it told shareholders that it would maintain 24 months of coverage, implying a shortfall of about six months. Data indicated closing that gap would require an estimated $728 million.

Investor Mark Harvery said he was “shocked” that Strategy led its USD reserves get this low. “I’d love to know what the plan is here,” he said in a post on X.

MSTR Stock Dips While Bitcoin Holds $75K

MSTR’s stock moved 0.9% lower in midday trade to around $165 amid broader weakness in the market. Bitcoin’s price edged 0.2% lower in the last 24 hours, holding above $75,000 following mixed signals on peace deal negotiations between the U.S. and Iran.

On Stocktwits, retail sentiment around Strategy trended in ‘extremely bullish’ territory over the past day, accompanied by chatter at ‘high’ levels. Many users on the platform backed Saylor’s move to buy 34,164 BTC for $2.54 billion over the past week, marking MSTR’s largest Bitcoin acquisition of 2026.

https://www.stocktwits.com/ponderevo/message/650773001

While other retail traders struck a more cautious tone, calling MSTR’s Bitcoin accumulation a “ponzi scheme.

https://www.stocktwits.com/alan2294/message/650769479

Strategy’s multiple of net asset value (mNAV) has continued to climb, reaching around 1.26x on Monday. It now holds over 815,000BTC, exceeding BlackRock’s iShares Bitcoin ETF (IBIT) holdings of around 802,000 BTC.
source: https://www.tradingview.com/news/stocktwits:06b691811094b:0/