CryptoQuant's advice for MicroStrategy to halt BTC buys was 2 weeks late, BeInCrypto reports

CryptoQuant's recommendation that MicroStrategy (MSTR) halt its Bitcoin purchases came two weeks too late, BeInCrypto reported. The day before, CryptoQuant had advised MicroStrategy to increase its cash reserves, citing depleted dollar reserves and rising dividend obligations. However, BeInCrypto noted that MicroStrategy had already shifted its focus to securing cash two weeks prior. Last week, the company purchased only 520 BTC and allocated $300 million of the $355.5 million raised from a common stock sale to its reserves. While CryptoQuant argued that MicroStrategy needs to boost its reserves to $2.8 billion for its preferred stock (STRC) to regain its $100 par value, BeInCrypto countered that the company has other options, such as issuing more shares, without having to sell its Bitcoin holdings. The report concluded that the pace of MicroStrategy's capital-raising efforts will be a key issue for the market going forward.