Jakarta, Pintu News – The largest published Bitcoin cryptocurrency company, Strategy Inc. (formerly MicroStrategy), recently announced a significant increase in its US dollar reserve (USD Reserve) of approximately $748 million through the sale of shares, while not purchasing any new Bitcoin (BTC) during the period of December 15-21, 2025.
The move caught the attention of the crypto market as it marks a temporary change from the aggressive buying of Bitcoin that has characterized the corporate strategy. This information was reported through a public filing and summarized by U.Today based on official company statements and regulatory documents.
Strategy raised approximately $747.8 million through the sale of approximately 4.54 million Class A shares under its at-the-market (ATM) program between December 15 and 21, 2025. The proceeds of these sales were used to increase cash reserves, not for new Bitcoin acquisitions during the period.
This share sale increases the company’s liquidity, giving it financial flexibility without increasing the amount of BTC held. This kind of strategy shows management’s focus on short-term financial stability while maintaining exposure in cryptocurrencies.
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Following the share sale, Strategy’s total US dollar reserves increased to approximately $2.19 billion, giving the company a larger liquidity cushion. These reserves are built up to cover interest payments, preferred stock dividends, and other financial obligations without having to sell any Bitcoin assets held.
These larger cash reserves strengthen the company’s ability to navigate crypto market volatility and macro uncertainty, especially if BTC prices come under pressure.
During this period of selling shares and adding dollar reserves, Strategy did not make any new Bitcoin purchases between December 15-21, 2025. This was a break from the aggressive accumulation trend of BTC that had been ongoing for the previous few years. u.today
The company’s Bitcoin holdings remain unchanged at 671,268 BTC, an amount derived from BTC purchases in previous periods, and reflects Strategy’s long-term commitment to this asset.
The increase in cash reserves is explained as a move to cover 12-24 months of dividend and interest payment obligations without relying on BTC value or asset sales. These reserves are also intended to show creditors that the company remains solvent even in down market conditions.
The strengthening of cash reserves gives the company strategic flexibility in the face of volatile crypto market cycles, where BTC prices can experience significant volatility.

Some market observers, including known BTC skeptics like Peter Schiff, interpret Strategy’s addition of dollar reserves as a sign of caution or potential financial stress, rather than an aggressive strategy towards the market. Such interpretations highlight the growing debate among crypto investors and analysts.
These diverse viewpoints reflect how large corporate decisions in the cryptocurrency market are often viewed through different lenses depending on each party’s risk framework and investment strategy.
Although Strategy did not purchase BTC during the period, its total holding of 671,268 BTC remains one of the largest corporate Bitcoin reserves in the world, showing that their primary focus remains on long-term accumulation while ensuring the health of the company’s balance sheet.
The value of the BTC held, with the price of Bitcoin approaching $90,000 at the time of the report, indicates a very significant exposure to this cryptocurrency asset on Strategy’s balance sheet.
The decision to shift focus to dollar reserves could impact the market’s perception of the corporate strategy towards BTC in the short term. While some investors see it as a prudent conservative move, others may see it as a signal of caution amid crypto market uncertainty.
The combination of strong cash reserves and large Bitcoin holdings demonstrates a diversified approach to financial risk in the context of an ever-changing cryptocurrency market.
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Strategy is increasing dollar reserves to ensure the ability to pay dividends and interest without having to sell Bitcoin, in the face of global crypto market volatility.
Strategy now has USD reserves of around $2.19 billion after recent share sales.
The company continued to hold 671,268 BTC after the share sale period, with no new purchases in the week.
Figures like Peter Schiff commented on the addition of dollar reserves as a sign of caution or financial stress in his opinion.
The cash reserve was created to cover dividend and interest payment obligations over the next 12-24 months without depending on the sale of cryptocurrency assets.
Reference:
Alex Dovbnya/U.Today. Strategy Buys 0 BTC, Boosts USD Reserve. Accessed December 23, 2025.
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