Bank analyst Nicholas Panigirtzoglou noted that the company is creating additional uncertainty for BTC. Strategy may not sell BTC. However, the company plans to maintain 12-month reserves for payments on preferred shares and other obligations. The current reserves of $2.55 billion are sufficient for 17 months. JPMorgan recommends setting a target reserve of 24–36 months for these obligations. Panigirtzoglou suggests issuing common stock, even at a discount. This would help increase dollar reserves without selling BTC. Strategy owns 847,400 BTC ($52.1 billion), which is 4% of all coins. The unrealized loss amounts to $12 billion (18.7%).