#StrategySells334MStock
About StrategySells334MStock
Strategy did not add bitcoin last week. Instead it sold about $334M in stock and lifted USD reserves to roughly $4.8B. Saylor said buybacks are not a priority now, but the company could consider them if MSTR trades at a clear discount to NAV. He added Strategy will keep a large cash cushion and wants STRC back near its $100 par value. After years of raising capital to buy BTC, the focus has shifted to reserves and capital structure. Is this dry powder for the next buy, or a fading corporate bid?
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Michael Saylor’s new strategy:
1. Reduce debt, increase cash → a safer Strategy
2. STRC is safer → investors accept a lower yield
3. STRC rises to $100+ → more low-dividend issuances of $STRC financing
4. Use the raised funds to buy more BTC
5. More BTC per share in MSTR → MSTR becomes more attractive
6. The model runs successfully → investors are willing to pay a higher premium for $MSTR
Success brings everyone joy;
if it fails, there’s an opportunity to buy $BTC at a low price
🚨 MARKET MOVE
@saylor is holding the line. His firm didn’t sell any $BTC this week, keeping its 840,447 BTC stash intact.
Instead, it added $150M to USD reserves and bought back STRC shares.
No BTC selling. Just stronger reserves. 👀
#BTC #MicroStrategy
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
STRATEGY SOLD $334M OF MSTR THIS WEEK.
$132M went into $STRC buybacks, while $149M went into cash reserves, now at $4.8B.
Strategy holds 840,447 BTC at an average cost of $75,385.
At $64.3K BTC, the stack is worth ~$54B vs. a $63.4B cost basis - a $9.3B unrealized loss.
Strategy bought zero BTC this week.
The focus was on its balance sheet, not adding Bitcoin.
I think we are getting closer to the end of this heavy MSTR-selling phase.
Like I said, Saylor selling MSTR to build the USD Reserve and defend STRC around $95 was the right move.
It is painful for MSTR holders, but it became inevitable once the weakness in STRC’s original design was exposed.
The variable dividend was supposed to keep STRC trading near $100. But when Bitcoin fell and credit confidence weakened, adjusting the yield alone was not enough. Once STRC dropped below $90, Strategy had to prove that the product was more than a high yield promise backed by a volatile asset.
That required three things:
1/ A large cash reserve to remove doubts about dividend coverage
2/ STRC buybacks to create demand and reduce future dividend obligations
3/ A willingness to prioritize the stability of its capital structure over buying more Bitcoin
This hurts MSTR in the short term because common shareholders absorb the dilution while none of that capital adds to the Bitcoin reserve. But allowing STRC to keep falling would have been worse. It could have destroyed confidence in Strategy’s entire preferred-stock platform and closed an important source of future capital.
The good news is that I think we are getting closer to the end of this heavy MSTR-selling phase.
Strategy now has a $4.8B USD Reserve, covering roughly 2.8 years of dividends and interest. That is already beyond its original goal of at least 24 months. STRC has also recovered to around $95, and Strategy has said its buybacks should taper as the price approaches $100.
MSTR may take a few months to come alive again, but the path is still there.
First stabilize STRC. Then rebuild MSTR. Then return to growing Bitcoin per share.
Did Michael Saylor just drop the ultimate reality check for $MSTR holders?
Despite common shares dropping ~73% YoY, buybacks aren't a priority. Instead, Strategy is holding $4.8B in cash to defend $STRC, with Saylor admitting:
"We have to be able to sell bitcoin as well as buy it."
Are you prepared to hold $MSTR through a 7–10 year horizon, or is this a red flag? 👇
