Daily STRC dividends advance Strategy's Bitcoin financing machine. Shareholders approved the payments, and Strategy's Bitcoin printer is unstoppable. x.com 

Strategy's preferreds are now well covered, with net debt effectively zero at $64 million. Per Michael Saylor, it raised its USD Reserve to $5.10B, added $1.59B of USD cash and repurchased $136M of STRC. Reserve plus cash now almost equal its debt, or about four years of preferred dividends. After stumbling in early June, Strategy corrected course, and STRC should work back toward par, reopening issuance to buy more bitcoin, as Strive is doing with its SATA preferred. x.com  x.com  x.com  x.com  … Show more

Strategy has stopped being a bitcoin company and become a yield flywheel, diluting the stock or selling bitcoin week after week to keep the yield, despite claims all year that it was well capitalized. Per @DeItaone, it raised $333.7 million selling 3.46 million shares through its ATM program last week and bought no bitcoin, using proceeds for preferred dividends, $132.2 million of STRC buybacks and cash reserves. As @ShevY_xx put it, the yield is now the product and the coin just collateral. … Show more

Bitcoin and Strategy offer an unparalleled and underappreciated setup now that the issue around Strategy's STRC preferred is largely resolved. x.com 

Strategy offers prime risk/reward here unless Bitcoin keeps moving deeply lower. Saylor affirmed the company can pay its dividend for over two years and will prioritize always holding 12 months of dividend cash, alongside a new Digital Credit Capital Framework. Last week's FUD over Saylor, Strategy and its STRC preferred produced a strong candle below the prior low into a key demand area from the previous cycle, yet the stock kept its weekly bullish divergence. x.com 

Without a maturity date, Strategy's STRC will not hold a peg to par. A maturity would give it a basis to trade at par. The concern goes beyond capital-structure conflicts: fiat hyperinflation destroys capital, while misleading pitches, double taxation and paying a premium for money available directly compound the problem. x.com 

Strategy might be undervalued because it holds far more Bitcoin than the first time its stock traded at the same price. At $140.51 today, it holds 848,517 BTC, versus 193,000 BTC the first time shares reached $140.51. x.com  x.com 

Strategy shares and STRC will do fine as bitcoin rises, but the financial engineering is too complex. As bitcoin climbs, Strategy should pay off debt, use its bitcoin as collateral for the cheapest capital and buy more, a simpler, more antifragile structure the market could trust and that would ease S&P inclusion. Instead it has too many knobs, and such complexity sometimes blows up. A share sale that cut the stock 3% shows the dilution drag that retiring preferreds and debt would end. x.com  … Show more

Strategy's STRC preferred was never as safe as a money market fund, and if both STRC and MSTR share dilution fail, the only way left to pay dividends is selling bitcoin. Believing STRC would stay at par forever while paying a junk-like 12% was financial illiteracy; per @betirement, it has now fallen below $90. Strategy says its bitcoin reserve gives it 32 years of dividend coverage. x.com  x.com 

Strategy is building kinetic energy by using its STRC preferred as gunpowder to corner the marginal demand for scarce bitcoin, and it seems to be working. The divergence between MSTR and bitcoin since STRC launched on July 30, 2025, highlighted in a post the author replies to, is no surprise: the two securities will never move linearly or in tandem. x.com