Strategy Seeks S&P Rating Revision Amid Improved Liquidity
Strategy, a Bitcoin treasury firm, is calling on S&P Global Ratings to revise its B- junk rating. The company claims it has addressed most of the issues surrounding the rating by substantially increasing dollar liquidity and reducing net leverage.
The rating agency assigned Strategy the B- issuer credit rating in October 2025, marking a significant step in institutional credit analysis of a Bitcoin treasury company. According to Chaitanya Jain, head of Bitcoin product and investor strategy at Strategy, several weaknesses identified when the rating was issued have since improved.
Strategy has increased its cash reserves from $54 million in September 2025 to $6.4 billion by September 4, 2026, sufficient liquidity to cover interest and preferred dividends for over 4 years without selling Bitcoin.