Strategy reinforces cash reserves and buys an additional US$ 116 million in Bitcoin

Source: PortaldoBitcoin Original Title: Strategy reinforces cash reserve and buys an additional US$ 116 million in Bitcoin Original Link: Strategy stated that buying Bitcoin is not its only priority in 2026, even after investing more than US$ 116 million in the asset to celebrate the new year.

The balance of the so-called Strategy Dollar Reserve increased to US$ 2.25 billion. The company also reported holding approximately 673,800 Bitcoins, valued at about US$ 62.8 billion based on current prices.

Strategy indicated that its Dollar Reserve, created just over a month ago, was strengthened with funds from the issuance of common shares. When the company announced this reserve in December, it raised US$ 1.44 billion to finance the initiative.

The reserve was created to, in practice, pre-finance cash dividends for various tranches of preferred shares, an innovative yet controversial funding source that the company adopted last year. However, in the week ending Sunday, Strategy did not use the products to obtain financing.

Instead, Strategy raised US$ 312 million through the issuance of common shares, retaining most of these funds. The company has not issued preferred shares since the week ending December 14, when it announced two consecutive Bitcoin purchases, totaling nearly US$ 1 billion each.

Strategy’s shares rose 4% on Monday, to US$ 163. The initial jump follows a 49% decline in the company’s stock price last year, with analysts focusing on the implications of Strategy’s potential exclusion from MSCI indices in recent months.

Strategy requested that the financial giant not exclude Bitcoin-buying companies from its indices, a measure that analysts warned could trigger billions of dollars in outflows from the company. Other analysts described Strategy’s cash reserve creation as prudent.

Although Strategy’s Bitcoin purchases cooled with the asset’s decline from its all-time high of US$ 126,000 in October, the company acquired approximately 22,600 Bitcoins last month. This represented a notable acceleration compared to the 9,000 Bitcoins purchased the previous month, as a major funding source became restricted.

For years, Strategy considered the amount of Bitcoin it holds per share as a key measure of its success. But as the company’s value fell relative to the value of its Bitcoin reserves, the issuance of common shares became a less effective way to boost this indicator.

On Monday, Strategy’s so-called mNAV (Adjusted Net Asset Value) was around 1.03, according to its formula, which considers factors such as cash and debt. When the mNAV is below 1, issuing common shares for immediate Bitcoin purchase would reduce Strategy’s reserves per share.

Despite Strategy’s most recent Bitcoin purchase, which added nearly 1,300 Bitcoins to the company’s coffers, the amount of Bitcoin the company held per share remained unchanged. The “BTC Yield” indicator remained stable throughout the year.

When announcing the company’s latest Bitcoin purchase in 2025, Strategy co-founder and CEO Michael Saylor highlighted how the company “achieved a BTC Yield of 23.2% in the year-to-date of 2025,” while its holdings per share increased.

Saylor did not include this metric when drawing attention to the increase in the company’s cash reserves on Monday, along with the value of its latest purchase.

Bitcoin was trading at US$ 93,847 on Monday, a 7.2% increase over the past week. The asset’s price fell 23% in the previous quarter, reaching a low of US$ 84,500 last month.