Strategy Shifts from Bitcoin, Eyes Larger Dollar Reserve

Strategy, Inc.'s shift from prioritizing bitcoin to holding cash is gaining support from analysts. In its second-quarter earnings call, Strategy Executive Chairman Michael Saylor stated that he no longer expects a '100% allocation' to BTC, but instead plans for a mix of assets.

The company's focus has centered on converting dollars into bitcoin, but it now aims to build a larger dollar reserve. This move is seen as essential to achieving its long-term goal of buying more BTC.

TD Cowen and Benchmark reiterated their buy ratings on Strategy (MSTR) following the earnings call. They noted that returning STRC preferred stock to par has become management's central objective.