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Strategy's real priority isn't a dividend on common shares — it's Bitcoin Per Share. CEO Phong Le has been clear: the company's focus is growing BTC exposure per MSTR share, not payouts to common stockholders. That's a different conversation from STRC, Strategy's preferred stock, which already carries a 12% dividend of its own. 📉 MSTR has swung harder than Bitcoin itself, thanks to leverage baked into its convertible debt and preferred structure. 🎯 Management's stated aim is for STRC to trade near its $100 par value over time, with dividend rate changes evaluated month to month rather than automatic. 🪙 Bitcoin sales have entered the toolkit too — used selectively to fund preferred dividends, not to reduce the core BTC position long-term. The bigger signal here isn't the "no dividend" headline — it's a company treating its bitcoin stack, debt, and preferred equity as one interconnected balance sheet, optimized share by share rather than coin by coin. Not financial advice, just tracking the mechanics. $MSTR $BTC $STRC