CryptoQuant CEO urges MicroStrategy to pause Bitcoin buys as STRC slides to $82.50 and cash coverage tightens

CryptoQuant’s CEO criticized MicroStrategy for continuing to buy Bitcoin, arguing it is intensifying cash-flow pressure as the company’s USD reserve has fallen 38% since the start of 2026 and annual dividend obligations have risen to $1.2 billion. He said Strategy has $1.1 billion in cash versus $2.8 billion needed to cover 24 months of dividends, while STRC fell to $82.50—its deepest 17.5% discount to par. The note also flagged MSTR testing the $100–$103 support zone, warning that a break below $100 would leave no major support until much lower.