After the stock price of Strategy fell by $100, the market re-examined the funding arrangements of the Bitcoin Treasury. According to Peter Schiff, if MSTR continued to decline, the company might face more difficult options in the future, not even excluding the sale of part of the bitcoin.

Selling stock last week, $335.5 million.

Company disclosures indicate that Strategy sold approximately 2.71 million shares of MSTR last week to raise approximately $335.5 million. Subsequently, the Executive Chairman, Michael Seller, disclosed that approximately $35 million of that amount had been used to buy 520 bitcoins.

Most of the remaining funds were retained as United States dollar reserves. Following this round of adjustments, Strategy ' s cash balance increased to approximately $1.4 billion. Seller claims that the higher cash position is intended to support the credit quality of the company Digital Credit securities products, which have become an important part of its financing structure.

Cash reserves and sub-red pressure are of concern.

In addition to declining stock prices, the market is also concerned about the liquidity of Strategy. CryptoQuant, a data provider on the chain, recently recommended that companies slow down bitcoin buy-in and prioritize the rehabilitation of cash reserves.

CriptoQuant mentioned that the annualized red-red obligation related to priority stock products had risen to approximately $1.2 billion. Its focus is mainly on the sustainable priority stock product of Strategy STRC. According to the Agency, Strategy ' s cash reserves had declined by 38 per cent in 2026, and the red-cover period had been reduced from more than seven years to about 14 months.

  • Stock financing last week was about $335.5 million.
  • Of which approximately $35 million was spent on buying 520 BTC
  • Current cash reserve is about $1.4 billion.

Schiff says it's selling bitcoin or hitting the market.

According to CryptoQuant, to restore the coverage period to 24 months, the company would need approximately $2.8 billion in cash, close to twice the current reserve. The agency CEO Ki Young Ju also stated that Strategy's current currency purchases were no longer the main catalyst for the increase in bitcoin.

According to Shiv, if stock prices continued to weaken, Strategy might need to reassess the Bitcoin Treasury strategy. He suggested that the sale of some bitcoin and its use for stock buy-backs might reduce the discount between the market value of the company and the value of the lower asset, but he also questioned whether it was sufficient to restore investor confidence.

STRC drops to increase the heat of the controversy

In a follow-up letter on June 24th, Shiv also pointed criticism to STRC. He argued that the security had been packaged as a tool for less volatile, less risk-oriented investors to participate in the Strategy Bitcoin strategy, but that it had fallen by more than 5 per cent that day, with a relatively large number of investors buying more than 17 per cent lower last month.

Additional information:Sif further stated that the drop had almost wiped out the dividends of almost two years and accused Seller of “significant misrepresentation” in presenting the priority stock product. The allegations in question are mainly from his personal public statements.