{"id":32872,"date":"2026-06-24T08:41:47","date_gmt":"2026-06-24T08:41:47","guid":{"rendered":"https:\/\/bitunikey.com\/news\/cryptoquant-tells-strategy-to-stop-buying-bitcoin-as-strc-cracks\/"},"modified":"2026-06-24T08:42:06","modified_gmt":"2026-06-24T08:42:06","slug":"cryptoquant-tells-strategy-to-stop-buying-bitcoin-as-strc-cracks","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/cryptoquant-tells-strategy-to-stop-buying-bitcoin-as-strc-cracks\/","title":{"rendered":"CryptoQuant tells Strategy to stop buying Bitcoin as STRC cracks"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">CryptoQuant has warned that Strategy should pause Bitcoin purchases and rebuild its cash reserves as pressure grows around its preferred stock structure.\u00a0<\/p>\n<div id=\"cn-block-summary-block_597dc9a0687c59989be922c03280ebf4\" class=\"cn-block-summary\">\n<div class=\"cn-block-summary__nav tabs\">\n        <span class=\"tabs__item is-selected\">Summary<\/span>\n    <\/div>\n<div class=\"cn-block-summary__content\">\n<ul class=\"wp-block-list\">\n<li>CryptoQuant says Strategy\u2019s dividend coverage fell to 14 months as cash reserves kept shrinking fast.<\/li>\n<li>Ki Young Ju says Strategy\u2019s Bitcoin buying may defend ranges, not drive fresh rallies now.<\/li>\n<li>MSTR closed at $103.84 while Bitcoin traded near $62,556 amid wider selling pressure this week.<\/li>\n<\/ul><\/div>\n<\/div>\n<p><!-- .cn-block-summary --><\/p>\n<p>The on-chain analytics firm said Strategy\u2019s annualized dividend obligations have risen to about $1.2 billion.<\/p>\n<p>The warning centers on STRC, Strategy\u2019s perpetual preferred stock product. CryptoQuant said Strategy\u2019s cash reserve has fallen 38% in 2026, while dividend coverage has dropped from more than seven years to about 14 months.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cStrategy\u2019s annualized dividend obligations have nearly quadrupled to $1.2B, while its cash reserve has fallen 38% in 2026,\u201d <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/cryptoquant_com\/status\/2069468302099825087?s=20\">said<\/a> CryptoQuant.<\/p>\n<\/blockquote>\n<p>The firm said restoring 24 months of coverage would require about $2.8 billion in cash. That would be roughly twice the amount Strategy currently holds after its latest reserve increase.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<h2 class=\"wp-block-heading\"><strong>Ki Young Ju questions buying pace<\/strong><\/h2>\n<p>CryptoQuant CEO Ki Young Ju also argued that Strategy\u2019s Bitcoin buying no longer works as a clear price driver in the current market. He said buying in a high-selling-pressure environment may only defend Bitcoin\u2019s range rather than start a new rally.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cStrategy\u2019s BTC buying here looks more like a liquidity sink than a price catalyst,\u201d said Ki Young Ju. <\/p>\n<\/blockquote>\n<p>He said the company should pause purchases, rebuild reserves and create a model-based purchase plan.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-x wp-block-embed-x\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">&#8216;<a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/Strategy?ref_src=twsrc%5Etfw\">@Strategy<\/a>&#8216;s BTC buying here looks more like a liquidity sink than a price catalyst.<\/p>\n<p>They should pause Bitcoin purchases, rebuild cash reserves, and adopt a systematic framework for purchase timing.<\/p>\n<p>In a low-selling-pressure environment, that demand can move price meaningfully.\u2026 <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/77MKgZMrv0\">https:\/\/t.co\/77MKgZMrv0<\/a> <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/t.co\/TnkUJD10Eb\">pic.twitter.com\/TnkUJD10Eb<\/a><\/p>\n<p>\u2014 Ki Young Ju (@ki_young_ju) <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow\" href=\"https:\/\/x.com\/ki_young_ju\/status\/2069646523668033833?ref_src=twsrc%5Etfw\">June 24, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n<p>Ju said Bitcoin\u2019s realized cap grew by $467 billion over the past two years, while price was down 1%. In his view, that shows capital is moving through the market without creating a strong upward trend.<\/p>\n<p>He also said continuous buying may delay a deeper market reset. Bitcoin cycles often involve crashes, capitulation, weak-holder exits and whale accumulation. Ju said this cycle has stayed in a wide sideways range instead.<\/p>\n<h2 class=\"wp-block-heading\"><strong>Strategy keeps buying, but raises reserves<\/strong><\/h2>\n<p>Strategy has not fully stepped away from Bitcoin accumulation. The company bought 520 BTC for about $35 million at an average price of $67,068, bringing its total holdings to 847,363 BTC.<\/p>\n<p>Strategy also increased its U.S. dollar reserve by $300 million to $1.4 billion. That move showed a stronger focus on liquidity while the company continued to add Bitcoin.<\/p>\n<p>The company raised about $335.5 million through MSTR share sales during the same period. Only part of that money went into the latest Bitcoin purchase, while the rest supported the cash reserve.<\/p>\n<p>In a recent update, crypto.news covered Strategy CEO Phong Le\u2019s $1 million STRC purchase. Le said he would hold the position until it returned to par value, likely longer. STRC had traded below its $100 par value after falling near record lows.<\/p>\n<h2 class=\"wp-block-heading\"><strong>STRC and MSTR remain under pressure<\/strong><\/h2>\n<p>STRC has become a key part of the debate around Strategy\u2019s Bitcoin funding model. The preferred stock offers an 11.5% yield and was designed to trade near $100, but it recently fell as low as $82.50.<\/p>\n<p>At around $87.40, STRC\u2019s effective yield stood near 13.2%, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.strategy.com\/purchases\" target=\"_blank\" rel=\"nofollow\">according<\/a> to STRC tracker data. A higher yield can show that investors are asking for more compensation to hold the product.<\/p>\n<p>Previously, crypto.news explored how STRC\u2019s drop tested Strategy\u2019s Bitcoin-backed credit model. That report said the selloff may have reflected a leverage flush, but it also showed how thin liquidity and Bitcoin volatility can pressure preferred stock products.<\/p>\n<p>MSTR also weakened with the broader market. Strategy shares closed at $103.84 on Tuesday, down 5.13%, <a rel=\"nofollow\" target=\"_blank\" href=\"https:\/\/www.google.com\/finance\/beta\/quote\/MSTR:NASDAQ?window=1M\" target=\"_blank\" rel=\"nofollow\">according<\/a> to Google Finance. The stock hit a 52-week low of $103.52 during the session.<\/p>\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">Source: Google Finance<\/figcaption><\/figure>\n<p>Bitcoin traded near $62,556, according to crypto.news market data, after failing to hold the $64,000 area. The price move kept attention on Strategy because the company remains the largest public corporate holder of Bitcoin.<\/p>\n<p>Strategy co-founder Michael Saylor has defended the company\u2019s structure. As crypto.news reported, Saylor said Strategy\u2019s Bitcoin and cash reserves exceed outstanding debt by about $48 billion. He also said the company had raised more than $60 billion in capital since 2022 and used it to acquire Bitcoin.<\/p>\n<p>CryptoQuant\u2019s warning does not say Strategy faces an immediate cash crisis. It says the company\u2019s balance between Bitcoin buying, dividend obligations and cash reserves has become harder to manage while Bitcoin trades weakly and STRC remains below par.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CryptoQuant has warned that Strategy should pause Bitcoin purchases and rebuild its cash reserves as pressure grows around its preferred stock structure.\u00a0 Summary CryptoQuant says Strategy\u2019s dividend coverage fell to&hellip;<\/p>\n","protected":false},"author":1,"featured_media":31093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-32872","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/32872","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=32872"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/32872\/revisions"}],"predecessor-version":[{"id":32873,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/32872\/revisions\/32873"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/31093"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=32872"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=32872"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=32872"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}