Morning Edition · Wednesday, June 24, 2026
Analysts Urge Strategy to Pause Bitcoin Buying as Cash Cushion Thins
CryptoQuant says the cash backing Strategy's preferred funding has shrunk from seven years of coverage to about 14 months, with a multibillion-dollar paper loss on recent purchases.
The analytics firm CryptoQuant argued that Michael Saylor's Strategy should halt its Bitcoin purchases and rebuild cash, citing a sharp deterioration in the company's financial cushion. Strategy, the corporate Bitcoin treasury company led b…
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Leveraged Bitcoin Treasury Vehicles Show Financing Strain
Over ~3-9 months, Bitcoin treasury companies face mounting financing stress as their funding instruments trade below par on dividend-coverage doubts, testing the sustainability of the debt/preferred-funded accumulation model.
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