Strategy sells $2 billion in MSTR shares, makes no bitcoin purchases, establishes $1.6 billion ‘USD Cash’ pool

A major crypto strategy sold roughly $2 billion of MicroStrategy (MSTR) shares and did not deploy proceeds into bitcoin, instead parking about $1.6 billion in a newly created "USD Cash" pool. The action pauses active BTC accumulation and removes a material near-term source of demand from this strategy. While the cash holding preserves optionality to repurchase bitcoin later, it creates potential short-term downward pressure on BTC prices by reducing immediate buying flows.