Strategy selling bitcoin breaks the story and the brand of Michael Saylor and his company, whatever the reason. Saylor attributes the sales to capital management, but for a company built on continuously buying bitcoin and never selling, the move undercuts its core identity. x.com 

STRC, the preferred stock tied to Strategy, is a Ponzi-like structure that will be Strategy's downfall unless it is shut down. The structural problem cannot be fixed while it exists, and management's stubbornness risks a massive loss of confidence in Strategy. If Strategy sells bitcoin to cope, lower bitcoin prices could follow in a vicious cycle. As long as STRC exists, believers in bitcoin should just own bitcoin. x.com  x.com  x.com 

Strategy is attracting some of the world's largest fund managers because they want Bitcoin exposure. Their buying supports the bullish case for MSTR as a listed vehicle for institutional Bitcoin demand. x.com 

Strategy is choosing to sell its expensive shares rather than its bitcoin to fund itself. From August 17-23, 2026, it sold 18.26 million MSTR shares for $2.01B, using part of the cash to repurchase STRC, replenish its USD Reserve and set up a new USD cash reserve. x.com  x.com 

Strategy keeps diluting common shareholders with no end in sight, so bitcoin bulls are better off owning bitcoin directly. It sold another $544M of MSTR through its ATM last week, making its $25M STRC repurchase mere signaling, and bitcoin per share has fallen since June 1. Dilution makes it improbable the shares reach conversion on billions of convertible debt, and larger bitcoin sales grow likelier as the premium compresses, probably alongside a BTC drop. An FTX-style collapse is not expected. … Show more

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 

Strategy's STRC resembles FTX backing its books with its own tokens, and big Wall Street players are likely shorting STRC knowing Saylor will eventually have to sell bitcoin to fund the debts. That would ultimately ruin MSTR holders' trust. x.com 

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 

Strategy runs a Ponzi-like loop: new capital buys bitcoin, which lifts the stock and attracts more capital, while the business makes almost no organic cash flow and collapses without constant raising. It trades at a big premium to NAV, effectively selling $1 of bitcoin for $1.50, lost $12.5B in Q1 2026, and has now sold bitcoin for the first time since 2022 despite Michael Saylor's vow never to sell. Owning bitcoin itself makes more sense than owning Strategy. x.com  x.com