The bank said Strategy's bitcoin sales policy adds avoidable market uncertainty and should be replaced with equity issuance to build cash reserves. JPMorgan said Strategy's new bitcoin sales policy introduces "two-way" flow risk, adding uncertainty to crypto markets. The bank argued Strategy should hold cash reserves covering 24–36 months of dividend obligations, above its current 17-month buffer. Crypto sentiment could improve if Strategy expands reserves and Congress passes market s…
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