Strategy ups cash reserves to $2.19b, puts Bitcoin buying on hold

On December 1, Michael Saylor’s Strategy announced that it had established a US dollar reserve, initially of $1.44 billion, to support the payment of dividends on its preferred stock and interest on its outstanding indebtedness.

As of December 21, the balance of the USD Reserve is $2.19 billion, a regulatory filing shows.

Strategy, previously known as MicroStrategy, snapped its long-running accumulation streak as shares trade just above a key $155 support level.

The Michael Saylor-founded firm disclosed that it made no Bitcoin acquisitions during the week ended Dec. 21, keeping total holdings unchanged at 671,268 BTC, currently valued at approximately $64 billion.

Rather than buying crypto, Strategy issued and sold 4.54 million Class A common shares between Dec. 15 and Dec. 21, raising $747.8 million in net proceeds.

The company also confirmed it did not issue any preferred shares during the period under its four perpetual preferred equity programs—STRF, STRC, STRK, and STRD.

Strategy still has more than $41 billion of remaining capacity available across its common and preferred stock issuance programs.

Cumulatively, the firm has spent $50.33 billion acquiring Bitcoin, translating to an average purchase price of $74,972 per coin. At Bitcoin’s current price near $89,000, that position reflects an unrealized gain of roughly 19%.

Strategy reported that its U.S. dollar cash balance rose to $2.19 billion as of Dec. 21, up from $1.44 billion raised earlier in December.

The move toward bolstering cash reserves instead of purchasing Bitcoin represents a strategic breather following months of heavy buying that expanded holdings from around 400,000 BTC in mid-2024 to more than 671,000 by the end of 2025.

Strategy Price Action

Shares of MSTR were down 0.3% at market close on Monday, though the stock has plunged approximately 64% from its July peak near $460. It last traded at around $164.32.

Downward pressure intensified through November and December, with each rebound attempt consistently sold into.

Technically, the Supertrend indicator remains elevated at $201.87, far above the current price, while parabolic SAR levels at $191.01 continue to confirm a bearish trend.

A bullish reversal would require both indicators to move below the share price.

Near-term support lies between $155 and $160, corresponding to December’s lows.

A decisive break below $155 could trigger further downside and expose the stock to $125, where support is sparse.

That scenario implies a further decline of roughly 24% from current levels.

On the upside, initial resistance is in the $175–$180 range, with heavier overhead supply clustered between $190 and $200, which aligns with key technical indicators.