CryptoQuant Advises Strategy to Pause Bitcoin Purchases as STRC Tumbles 17.5% Below Par

According to The Block on June 24, CryptoQuant advised Strategy to pause Bitcoin purchases and rebuild cash reserves as the company faces liquidity pressure. Strategy's preferred stock STRC fell to $82.50, trading at a 17.5% discount to its $100 par value. CryptoQuant's research head Julio Moreno attributed the decline to Bitcoin bear market stress combined with cash reserves dropping 38% since the start of 2026.

Moreno noted that dividend obligations surged to approximately $1.2 billion annually from roughly $300 million in early 2026, collapsing the dividend coverage ratio from over seven years to just 14 months. He estimated that restoring 24-month coverage would require approximately $2.8 billion in cash, double current levels. Strategy currently holds approximately $10.6 billion in unrealized Bitcoin losses. Moreno recommended the company suspend purchases until financial metrics stabilize and establish systematic buying timing to avoid the perception of buying at local highs.