Strategy’s preferred stock, STRC, fell as low as $82.50 last week, dropping 17.5 percent below its nominal value of $100. On-chain data and market analysis company CryptoQuant argued that Strategy, led by Michael Saylor, should temporarily pause its Bitcoin purchases and focus on replenishing its dwindling cash reserves. A report published by the company’s research director, Julio Moreno, stated that increasing dividend obligations, a declining cash position, and growing unrealized Bitcoin losses pose risks for investors.