MicroStrategy (MSTR) recently sold $1.1 billion in shares to bolster its USD reserve, which now covers approximately 1.5 years of dividends. The company has signaled potential buyback programs for MSTR shares and STRC preferred shares to defend net asset value (mNAV), though no clear guidance remains for STRC dividend increases. Despite the ability to sell Bitcoin (BTC) for various purposes, the company opted to sell MSTR equity instead of its BTC holdings during recent market weakness.