$4.8 Billion Cash Reserve Gives Strategy Room to Buy or Sell Bitcoin

Strategy (MSTR) Executive Chairman Michael Saylor has stated that buying back shares is not a priority, but could be done if they become cheap enough. The company's common shareholders have experienced significant losses this year, with MSTR down around 38% and STRC down significantly as well.

The value of Bitcoin ($BTC) has also declined, contributing to the losses. Saylor mentioned that Strategy would consider buying back shares if they trade at a 'very, very deep discount' to their net asset value (NAV).

CEO Phong Le defended the practice of issuing new MSTR shares, arguing that it helps when the company can use the proceeds to buy more Bitcoin, increasing the amount of $BTC backing each share.

Strategy now holds a significant cash reserve of $4.8 billion in U.S. dollars, which will allow for flexibility in buying Bitcoin and repurchasing shares or preferred stock.