Strategy's USD Reserves Plummet by $140M Amid BTC Stack Protection
Strategy, formerly known as MicroStrategy, saw its combined USD reserves and cash dwindle by $140 million in one week to approximately $6.4 billion as of mid-September 2026.
This decline follows a $176 million drop the previous week, resulting in more than $300 million lost in liquid dollar holdings over just two reporting periods.
The company's preference for maintaining its 840,000 BTC stack is clear: diluting shareholders rather than touching the Bitcoin reserve is Strategy's choice.
The $140 million drawdown isn't surprising given Strategy's estimated $1.7 billion in annual preferred stock dividends and interest obligations.
The reserves are divided into two buckets: a restricted USD Reserve of around $5.1 billion for servicing dividend and interest payments, and a more flexible USD Cash pool handling operational needs and providing additional breathing room.