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STRC Buyback Thesis I appreciate the debate, but I see the STRC structure differently — and I think much of it is intentional. The $100 level is designed to function more like a ceiling than a simple target. Strategy itself is effectively the first seller around par, which makes a clean “buy $98, sell $100” trade less attractive. The real opportunity appears when investors are willing to buy lower and participate in the ecosystem rather than simply waiting for par.