Strategy Sits on $5.1 Billion in Cash but Bought $0 of Bitcoin. Thursday’s Report Has to Explain
Strategy (MSTR) held $5.1B in cash, buying no bitcoin but spending $204.9M on preferred stock buybacks. $4.83B is earmarked for dividends. Q3 results on Oct. 29 will show bitcoin growth and the pause's duration. The company had negative free cash flow of $112M in fiscal 2025.

