Strategy (MSTR) calls out a $1.44 billion cash defense strategy! To hold 650,000 Bitcoins without selling a single one.

Under the decline of Bitcoin, MicroStrategy announced that it raised $1.44 billion in cash through stock issuance to cover 21 months of interest and dividend expenses, alleviating market concerns about being forced to sell Bitcoin. (Background: Strategy CEO: Bitcoin will only be sold if MicroStrategy's mNAV falls below 1 and financing breaks, how is net asset value calculated?) (Supplementary background: MicroStrategy: The current holding of 650,000 BTC can support 71 years of dividends.) MicroStrategy once again overturned external expectations. As Bitcoin fell from a high of $126,000 to below $90,000, this company, which holds 650,000 Bitcoins, chose to issue a large number of shares, aiming to raise $1.44 billion in cash in just a few weeks. Documents submitted by MicroStrategy to the U.S. Securities and Exchange Commission (SEC) show that the money is specifically for paying future interest and dividend expenses for the next 21 months, approaching the 24-month safety line set by management. Ending the doubts about “selling Bitcoin,” short positions have long bet that MicroStrategy would eventually sell Bitcoin under liquidity pressure. This time, Michael Saylor directly turned the concerns into cash on the balance sheet. According to MicroStrategy's estimates, the current interest and dividend payments can be fully covered by available cash, meaning that even if Bitcoin were to plunge again, there would be no need to liquidate a single unit, effectively putting the death spiral scenario on hold for now. The planned $1.44 billion mainly comes from the ATM issuance program, equivalent to exchanging shareholder stakes for liquidity. Data shows that MSTR's stock price has dropped about 30% in the past month, a decline far greater than that of Bitcoin during the same period. The market is clearly recalculating the implied Bitcoin premium per share, while the dilution caused by the issuance exacerbates the valuation discount. MSTR's stock price has recently shown volatility, accelerating its decline since November, with a monthly drop of over 35% - 41%, primarily collapsing in sync with Bitcoin. Currently, the technical outlook remains bearish, and the short-term rebound strength is weak; unless Bitcoin quickly stops falling, it is likely to continue to probe lower. Overall, MSTR has dropped about 40% from 2025 to date, significantly underperforming the market, and has also sharply retreated from its high point in 2024 (which once reached $457). It has now entered a relatively undervalued low range, but volatility is extremely high, and risks remain significant. Related reports: Is there hope for Bitcoin? Vanguard will open investment in crypto ETFs, and trillions of dollars in funds from 50 million users will flow in. Has the Bitcoin escape indicator failed? How should investors recalibrate? Bitcoin rebounds to $86,000, Ethereum rises to $2800, and blockchain concept stocks all plummet. This article titled “MicroStrategy (MSTR) Calls for $1.44 Billion Cash Defense! To Ensure That 650,000 Bitcoins Are Not Sold” was first published in BlockTempo, the most influential blockchain news media.