Strategy Faces Liquidity Crunch as CryptoQuant Warns Against Aggressive Bitcoin Buying

CryptoQuant has urged Strategy, formerly known as MicroStrategy, to reassess its Bitcoin accumulation strategy due to concerns over liquidity. The company's USD cash reserves have dropped by 38% in 2026, falling to approximately $1.1 billion by mid-June.

At the same time, annual dividend obligations on its STRC preferred shares have quadrupled to around $1.2 billion per year. The dividend coverage ratio has plummeted from over seven years of runway to just 14 months in a single market cycle.

CryptoQuant recommends that Strategy rebuild its cash reserves to around $2.8 billion, representing 24 months of coverage, before resuming any Bitcoin purchases.