Strategy, Michael Saylor's Bitcoin treasury company, has set up a $1.44 billion reserve to mitigate risks associated with a potential Bitcoin bear market, according to CryptoQuant. This reserve is designed to cover preferred stock dividends and debt interest for up to 24 months. Despite a significant drop in Bitcoin purchases from 134,000 BTC in November 2024 to 9,100 BTC in November 2025, Strategy remains committed to its holdings. CryptoQuant's research director, Julio Moreno, indicated that Bitcoin prices could range between $70,000 and $55,000 next year if the bear market continues. Investment bank Mizuho has maintained an 'outperform' rating for Strategy, highlighting the reserve as a key liquidity management tool, with Bitcoin sales considered a 'last resort.'