Strategy Inc Establishes $1.44B Reserve as Bitcoin Holdings Surge to 650,000 BTC

Source: ETHNews Original Title: Strategy Inc Establishes $1.44B Reserve as Bitcoin Holdings Surge to 650,000 BTC Original Link: Strategy Inc has unveiled a major balance-sheet expansion, announcing a new $1.44 billion USD Reserve and confirming that its Bitcoin treasury has reached 650,000 BTC.

The move marks one of the company’s most significant financial updates to date and reinforces its leadership position among public-market Bitcoin holders.

A New $1.44 Billion USD Reserve to Stabilize Dividends

Strategy Inc revealed that it has created a dedicated USD Reserve designed to support dividend payments on its preferred stock and interest on outstanding debt obligations.

The reserve is funded through ongoing at-the-market issuances of Class A common stock, and the company intends to maintain enough liquidity to cover at least 12 months of dividend obligations. Executives also signaled plans to expand the reserve over time with a long-term target of covering 24 months or more.

Strategy has acquired 130 BTC for ~$11.7 million at ~$89,960 per bitcoin. As of 11/30/2025, we hodl 650,000 BTC acquired for ~$48.38 billion at ~$74,436 per bitcoin.

Founder and Executive Chairman Michael Saylor framed the development as a strategic milestone:

“Establishing a USD Reserve to complement our BTC Reserve marks the next step in our evolution,” he said, adding that this additional liquidity buffer strengthens the company’s resilience during market volatility.

President and CEO Phong Le emphasized that the reserve currently covers 21 months of dividends, calling it a key safeguard for shareholders as the company continues scaling its digital-asset strategy.

Bitcoin Holdings Rise to 650,000 BTC

Strategy confirmed the addition of 130 BTC, purchased for approximately $11.7 million at an average price of $89,960 per BTC.

This brings the company’s total to 650,000 BTC, acquired at a cumulative purchase price of $48.38 billion, with an average cost basis of $74,436 per BTC.

Saylor highlighted the significance of this milestone, noting that Strategy now controls about 3.1% of all Bitcoin that will ever exist.

Updated 2025 Earnings Guidance Amid Bitcoin Volatility

Strategy also revised its earnings assumptions for fiscal year 2025, citing the sharp decline in Bitcoin’s market price since late October.

Earlier guidance assumed a year-end BTC price of $150,000, based on research-analyst consensus. However, with Bitcoin falling to $80,660 on November 21, the company now projects a year-end price range of $85,000 to $110,000.

Corresponding updates to 2025 guidance include:

• FY2025 Operating Income: between -$7.0 billion and $9.5 billion
• FY2025 Net Income: between -$5.5 billion and $6.3 billion
• FY2025 Diluted EPS: between -$17.0 and $19.0

Because Strategy measures its Bitcoin under fair-value accounting, its financial results remain highly sensitive to BTC price movements. The company also highlighted that achieving its guidance depends on the successful execution of additional capital raises and continued Bitcoin accumulation.

Revised Bitcoin KPI Targets for FY2025

Based on the updated BTC price assumptions and planned equity issuance to maintain its USD Reserve, Strategy set new performance targets:

• BTC Yield Target: 22.0% - 26.0%
• BTC Dollar-Gain Target: $8.4B - $12.8B

The company expects to meet these goals through a combination of preferred-stock offerings, disciplined equity issuance, and strategic expansion of its Bitcoin holdings.

A Dual-Reserve Corporate Model

With both a substantial Bitcoin Reserve and a newly established USD Reserve, Strategy continues to evolve into a hybrid digital-asset and credit-focused financial entity.

Saylor reiterated that this two-reserve structure strengthens the firm’s long-term mission of becoming the world’s leading issuer of Digital Credit, while simultaneously reinforcing confidence among its shareholders and credit investors.