₿TC Strategist ⚡️

$MSTR Strategy is moving to daily dividends on its preferreds. $STRC finds itself just 8 cents below par ahead of tomorrow’s earnings call. The big test now awaits. We’ve passed another major milestone, upgrading our line of preferreds, except $STRE, which has largely flown under the radar since its launch in the European market. But $STRC remains the headline story. Today, we saw positive price action, with the instrument moving from $99.49 to $99.92, a 0.43% gain. Volume came in at around 1.35M shares, below the 30-day average of 1.5–1.6M. The relative volume tells me buybacks may have supported some of today’s price action, while the optimistic side of me hopes the amendment news also helped drive demand. Tomorrow is a big day. It’s been more than a month since Strategy’s September 8 target for $STRC to return to par, and investors will want to know how management plans to bring in sustained demand that actually sees it cross the line. The other major question is buybacks. With just $242M left in the USD cash balance, a continuation of recent buyback volumes could exhaust a significant portion of that buffer as early as this week. Where does the capital come from to sustain them? I’m firmly in the camp that believes buybacks are essential. They help support existing holders and build a track record of stability, which is critical to attracting future investors. As a common shareholder, I believe supporting the flagship preferred while prioritizing the shorter duration instrument should remain the priority. It remains to be seen how demand responds to daily dividends starting next week and whether we can begin tapering down the buybacks. But buybacks alone aren’t the endgame. We also need to see how @Strategy plans to expand demand and liquidity across the digital credit market. What I’m looking forward to hearing most is the long term vision. How close are we to creating dollar-pegged digital money with zero volatility, backed by institutional infrastructure and paying 6–8%? Insight into how @Strategy is advancing that vision, and how far we are from seeing a major institutional partnership come to life, is what I’m looking forward to most. The Champions League of Finance kicks off tomorrow at 5 PM ET. I’ll be listening closely. Mission: Strategy. $BTC $MSTR $STRC