Bitcoin reserve pioneer MicroStrategy takes action: $1.44 billion to back dividends, are investors reassured?

The pioneer of Bitcoin reserve strategy, MicroStrategy, announced the establishment of a reserve of $1.44 billion to pay future dividends and interest, alleviating people's concerns. MicroStrategy issued common stock MSTR, raising nearly $1.5 billion, and apart from purchasing 130 Bitcoins, the remaining funds will be deposited into the reserve, ensuring that at least 12 months of dividends can be paid.

MicroStrategy establishes a reserve of $1.44 billion, unafraid of paying dividends.

The pioneer of Bitcoin reserve strategy, MicroStrategy Strategy (, announced that it has established a reserve of 1.44 billion USD for the purpose of paying preferred stock dividends and interest on outstanding debts. The funds for this USD reserve come from the proceeds of the sale of Class A common stock by Strategy Company through their market issuance program. The current goal of Strategy Company is to maintain a USD reserve sufficient to cover at least 12 months of dividends, with plans to gradually increase the reserve, ultimately aiming to cover 24 months or more of dividend payments. The maintenance of this USD reserve, as well as the amount, terms, and conditions of the reserve, are all at the sole discretion of Strategy Company and may be adjusted from time to time based on market conditions, liquidity needs, and other factors.

MicroStrategy founder Michael Saylor stated:

“MicroStrategy currently holds 650,000 Bitcoins, accounting for approximately 3.1% of the total supply of 21 million Bitcoins. To reflect our important role in the broader Bitcoin ecosystem and further fulfill our commitment to credit investors and shareholders, we have established a dollar reserve, which is currently sufficient to cover 21 months of dividends. We plan to use this reserve to pay dividends and indicate a continuous increase over time.”

Strategy to buy BTC again, holding a total of 650,000 Bitcoins.

Strategy raised a total of 1.478 billion USD through the issuance of common stock MSTR, of which 11.7 million USD was used to purchase 130 Bitcoins at an average cost of 89,960 USD. As of December 1, 2025, Strategy holds a total of 650,000 Bitcoins with a total cost of 48.38 billion USD, and an average cost of 74,436 USD per Bitcoin.

Raise the STRC interest rate to 10.75%.

Strategy has also announced an increase in the annual interest rate of STRC from the original 10.5% to 10.75%. STRC is a perpetual preferred stock launched by MicroStrategy in July, adopting a floating interest rate with monthly distributions, with an initial dividend yield of 9% annualized. The set stock price range is 99 to 101, and yesterday's closing price was 96.41 USD, which is significantly below the set range. Therefore, the company hopes to raise the stock price by increasing the interest rate. However, MicroStrategy initially designed this floating dividend preferred stock to cope with the broader environment of interest rate cuts in the U.S., but now, due to the decline in stock prices, continuously raising the dividends seems to place a greater burden on the company?

) MicroStrategy issues high dividend preferred stock STRC, with a first month interest payout of 9%, Saylor: I can pay for 180 years (

Is mNAV close to 1, can establishing a reserve truly restore investors' confidence?

As competition among digital asset financial companies )DAT( intensifies, most DAT's mNAV ) current stock price and the value of the cryptocurrencies it holds have both dropped below 1, indicating that the company can no longer issue common stock to purchase cryptocurrencies using financing above the value of crypto assets. This is also the reason why MicroStrategy started aggressively promoting preferred stock this year, hoping to open another door for fundraising.

( The monthly interest-paying Bitcoin preferred stock is here! Why are MicroStrategy and Strive turning to interest-heavy preferred stocks? )

Permanent preferred stocks provide an infinite debt term and public tradability, allowing for issuance at market prices, increasing Bitcoin holdings without diluting shareholder equity, except for ( convertible preferred stocks ). However, it also raises concerns about the heavy interest from the outside world, which is why MicroStrategy wants to establish additional reserves to ensure future dividend guarantees and ease investor worries.

According to official data, its mNAV is currently 1.16, lingering at a low point with no signs of recovery. Previously, CEO Phong Le admitted that if the company's mNAV remains below 1 for a long time and financing channels run dry, “selling some BTC” will become the last resort to maintain the company's finances. However, if the reserve ancestor MicroStrategy starts selling coins to survive, it will lead to a collapse of market confidence, and the domino effect will inevitably result in a significant drop in Bitcoin, causing the company's stock price to plummet as well. I believe this would definitely be a self-destructive move. MicroStrategy successfully weathered the bear market of 2022, and whether it can restore investor confidence and emerge from the gloom again is worth watching.

(Will MicroStrategy sell coins? Strategy CEO admits: If financing is difficult, selling BTC will be the last resort)

This article Bitcoin reserve pioneer MicroStrategy takes action: $1.44 billion to safeguard dividends, are investors at ease? First appeared in Chain News ABMedia.