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MicroStrategy has taken the unusual step of reserving $1.44 billion in cash to cover interest and dividend payments over the next two years. For the first time, the company has also signaled a potential sale of BTC, which has caused significant market volatility. This article provides a detailed breakdown of the strategic pivot, examining the mNAV pressure, bond repayment risks, the threat of MSCI exclusion, and the structural challenges caused by the breakdown of the "issue-to-buy" flywheel. The report also examines how these reserves may function as a survival premium, enabling MicroStrategy to navigate the next cryptocurrency market cycle. The analysis offers a comprehensive view of how this major player is shifting its focus amid high leverage, tightening regulations, and volatile liquidity conditions.