Strategy CEO Says $4.8B Reserve Reflects Key Lesson From STRC Pullback

Strategy CEO Phong Le said the main lesson the company drew from STRC’s recent drawdown and recovery was the need to maintain U.S. dollar liquidity, pointing to the company’s $4.8 billion reserve.

Speaking during Strategy’s second-quarter 2026 investor Q&A, Le said future proceeds raised through STRC could potentially be allocated to the dollar reserve or other forms of dollar liquidity. He said such liquidity could backstop dividends and help build confidence among institutional investors, particularly STRC buyers.

Executive Chairman Michael Saylor added that fairly valuing Bitcoin requires the company to be prepared to sell the cryptocurrency as well as buy it, because credit dividends are funded through Bitcoin sales. 

Saylor also said stabilizing STRC requires Strategy to be willing to buy or sell the security, while maintaining what he described as a “laser-like focus” on the quality of the company’s capital structure.

Source: Strategy’s Q2 2026 Investor Q&A