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BTC Strategy significantly strengthens its financial strength and targets an improvement in its credit rating
As the world's largest holder of corporate Bitcoin, Strategy (formerly MicroStrategy) has recently taken a series of measures to significantly improve its financial situation. The move is aimed at boosting its credit rating at Standard & Poor's (S&P) and getting rid of its current B-rating.
Liquidity improvement and credit rating outlook
The company has focused on increasing US dollar reserves, reducing its debt burden, and ensuring continued access to capital markets. S&P Global Ratings recently pointed out that these three aspects are critical to Strategy's potential credit rating upgrade. Currently, the company's rating is still six notches below investment grade BBB-.
Chaitanya Jain, head of investor relations atStrategy, said the company has made significant progress in these areas. Strategy's dollar liquidity soared to $6.54 billion as of September 7, compared with just $54 million on September 30 last year.
Recent regulatory filings show that this liquidity consists of US$5.1 billion in reserves and US$1.44 billion in cash. This sizable funding buffer allows the company to cover interest and preferred stock costs for approximately four years without selling any of its Bitcoin positions.
In addition, after repurchasing $1.5 billion of convertible senior notes due 2029 (with an acquisition discount rate of 8%), Strategy's net dollar debt fell to approximately $174 million in September from approximately $8.16 billion at the end of the third quarter of 2025.
However, additional obligations related to permanent preferred shares and related dividends remain on the company's balance sheet.
Debt Management and Capital Generation
Between January and August 2026, Strategy generated US$21 billion in revenue through common and preferred stock financing, achieving its goal of raising new capital each month. A reduction in convertible debt and an increase in U.S. dollar reserves provide companies with greater financial flexibility in a volatile market environment.
Still, S & P Global Ratings is cautious about Strategy's reliance on Bitcoin assets to pay its dollar-denominated obligations-a structure that poses risks when the value of cryptocurrencies declines or access to capital markets is restricted.
The company's large U.S. dollar reserves buy it more time to cope with periods of volatile bitcoin prices or limited financing channels, potentially helping Strategy avoid selling digital assets in unfavorable market conditions.
Market trends highlight the importance of real-time monitoring
For companies like Strategy, liquidity management and timely response to rapidly changing market conditions are more important than ever. Especially when the Federal Reserve makes a sudden decision or new altcoins are quickly listed, the market may change dramatically. In this context, many investors are turning to privacy-first solutions such as CryptoAppsy, which integrate real-time charts, smart price warnings, focused currency news and macroeconomic data into a single interface. These comprehensive tools help traders avoid losses caused by switching between multiple platforms and simplify portfolio monitoring without having to register an account.
Strategy's business model is highly dependent on access to capital markets because it often raises funds to increase its Bitcoin holdings. If financing costs rise or market access is restricted, the company's dollar reserves will serve as an important hedging tool.
Despite improvements in liquidity and debt reduction, S & P's decision on the possibility of a rating upgrade will still depend on Strategy's ability to maintain sufficient reserves and meet its obligations through a volatile market environment.
The next step in the future Strategy's credit outlook will depend on the durability of its liquidity buffer and its effectiveness in balancing Bitcoin exposure with continued financial commitments.
