Michael Saylor’s $2.19B Reserve: Bitcoin Savior or Financial Buffoonery?

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Michael Saylor, the man who treats Bitcoin like a cherished auntie’s china collection, seems to have firmly planted his flag in the “No Sale” camp, bolstered by the recent expansion of Strategy’s U.S. Dollar Reserve. 📈💰

Strategy, in a move that would make Scrooge McDuck blush, has announced the swelling of its USD reserve fund by a cool $748 million, bringing the total to nearly $2.2 billion. This fund, first unveiled earlier in December, is ostensibly designed to cover dividend obligations tied to preferred stocks-essentially, the financial equivalent of a safety net for Bitcoin enthusiasts. 🛡️

Reactions to Strategy’s plan

The $2.2 billion fund now provides a cushion for 31 months of mid-term obligations. Meanwhile, the lion’s share of its $8 billion debt is due in 3 years, with the first maturity in 2028. Analyst James Van Straten, ever the optimist, sees this as a masterstroke to dispel the MSCI exclusion risk and those pesky “insolvency FUD” whispers. 🎩✨

“Just to put the insolvency FUD to bed. Well played.”

Interestingly, predictions site Polymarket seems to be singing from the same hymn sheet. The odds of Strategy being delisted from the MSCI index by Q1 2026 were still hovering at a lofty 75% at press time. However, the chances of Strategy selling BTC in H1 2026 were a mere 17%, dipping below 10% by Q1 2026. 🎲

In simpler terms, despite the high risk of MSCI index exclusion, the odds of forced liquidations of its BTC stash were low, thanks to the USD reserve fund that will cover immediate dividend obligations. 🏦

For his part, analyst Adam Livingstone linked the latest USD reserve moves to S&P Global recommendations. 📊

Indeed, in October 2025, the S&P Global assigned Strategy a ‘B’ credit rating. However, the agency also noted that it could upgrade the rating if Strategy improves its “U.S dollar liquidity,” reduces convertible debt, and shows strong access to the capital market during BTC drawdowns. 📈

MSTR vs Bitcoin

Over the past three weeks, the firm has raised nearly $4 billion, scaling its BTC holdings to 671,268 coins and expanding the reserve fund. 📈

Worth pointing out, however, that Strategy’s MSTR was sold to raise the latest capital to boost the USD reserve fund. 💸

In fact, both MSTR and BTC are on track to close the year in the red. BTC erased its year-to-date (YTD) gains and dropped by 5% to $88k. MSTR dropped by 8 times more (43% loss), from its 2025 high of $457 to $164. 📉

Final Thoughts

  • Strategy scaled its USD reserve fund to $2.19 billion, achieving 31 months of cover for dividend obligations tied to its preferred stocks.
  • The odds of liquidating its BTC have remained low after the establishment of the reserve fund.

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2025-12-23 07:40