JPMorgan flags Strategy's 6.3-month cash buffer as $1.7B dividend bill raises BTC sale fears
The Block •
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Promote with Leviathan NewsStrategy still holds 843,706 BTC, but JPMorgan says its 32 BTC sale rattled markets because the company’s dollar reserve now covers only about 6.3 months of preferred-stock dividends. The bank thinks Strategy may need to rebuild that buffer to kill fears it will keep selling BTC to meet roughly $1.7 billion in annual payouts, even as its YTD pace points to about $32 billion of Bitcoin buys in 2026. JPMorgan also moved from positive to cautious on digital assets, tying any stronger second half to Strategy’s dividend plan and CLARITY Act passage, which it now puts below 50% odds this year.
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