Overview
- Strategy funded the reserve by selling Class A shares and said it covers preferred dividends and interest for roughly 12 to 24 months.
- The company disclosed the purchase of 130 BTC, bringing its holdings to about 650,000 BTC, or roughly 3% of eventual supply.
- Management updated guidance using a year-end bitcoin range of $85,000 to $110,000 and outlined possible full‑year results from a $5.5 billion loss to a $6.3 billion profit.
- MSCI is weighing whether to exclude Strategy from major benchmarks, with a decision expected by Jan. 15, and JPMorgan has estimated potential passive outflows up to $8.8 billion if removals occur.
- Shares have sold off alongside bitcoin with a near-record correlation, leveraged MSTR ETFs are showing steep losses, and the company’s mNAV has compressed toward 1x.