Strategy lost $8.2 billion in the second quarter, at a peak of 846,000 bitcoin hold

On 31 July, Bitcoin Treasury, Strategy, published the second quarter, which recorded a loss of $8.2 billion as a result of the sharp decline in Bitcoin prices over the same period, a significant reversal of $10 billion in profits from the same period last year. The losses were mainly due to unrealized book losses from the Bitcoin hold. Strategy states that its Bitcoin holding warehouse increased by 11 per cent in the second quarter, reaching a peak of 846,000 BTCs, and then began selling some of its assets. As of the latest disclosure, the company held 843,775 BTCs. Since this year, Strategy has sold some $218 million bitcoin to pay for priority dividends. The company had previously suspended the purchase of bitcoin for five consecutive weeks, instead prioritizing the expansion of the United States dollar cash reserve. At the end of June, Strategy launched the Digital Credit Capital Framework, which plans to establish a minimum dollar reserve covering 12 months of priority dividends and interest expenditure, and authorized a currency liquidity plan of up to $1.25 billion to replenish reserves or pay dividends. CEO Phong Le indicated that the company had reduced the size of the reversible debt by 18 per cent to $6.7 billion in the second quarter, while increasing the United States dollar reserve by 12 per cent to $2.4 billion. According to CFO Andrew Kang, the company currently has a United States dollar reserve of approximately $3.75 billion, sufficient to cover approximately two years of related expenditure and has paid dividends on time for 18 consecutive months。