Everything Strategy has done over past 3-4 months has appeared focused on: 1) keeping as much BTC as possible, even when logical move was to dump a solid stack in one go 2) keeping options open, as much as possible, to stack more BTC, at nearly any cost to shareholders (try bring STRC back to par) 3) diluting shareholders as much as possible, in this process of max BTC accumulation, keeping mNAV as close as possible to 1 Think this gives increasing weight to theory that goal is for the US to ultimately take a stake in MSTR equity to gain some form of control of the maximal amount of BTC they’d have stacked by then Obv can only go week by week in assessment
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