Strategy Goes Another Week Without Buying — Or Selling — Bitcoin, Builds Up Cash Reserve

Strategy — formerly MicroStrategy — has recently pivoted to common stock sales to build up its cash reserves, rather than buying Bitcoin.

It has halted its Bitcoin sales and even sold a chunk of its holdings over the past two months after aggressively buying in 2025. 

Strategy stock (Nasdaq: MSTR) has taken a hit in 2026, dropping over 60% year-to-date. At a little over $95 a pop, it is currently trading nearly 80% below its 2024 record. 

The company started buying Bitcoin in 2020 as a way to protect shareholder returns. It has since become the largest corporate holder of Bitcoin, with 840,447 coins worth $53.4 billion, acquired at an average price of $63,357, according to its website. 

Despite focusing on its cash buffer, Strategy has reassured investors that its long-term posture toward Bitcoin is still the same. CEO Phong Le said earlier this month that he isn’t worried about the current bear market, and that the company plans to remain a long-term buyer of Bitcoin despite its recent sales.

“We’re the J.P. Morgan of the crypto economy, so whether we sell 1,000 Bitcoin out of 840,000 to me is irrelevant to the conversation,” Le said. 

Strategy’s approach has spawned a wave of copycat companies that have since adopted similar crypto-treasury strategies of their own.