Issuing More MSTR Without Buying BTC? The Starting Point of MicroStrategy’s New Flywheel Two weeks ago, MSTR issued 4,818,781 shares; last week, it issued 2,732,318 shares. For two consecutive weeks, MSTR has been issued without any BTC purchases. Logically, this should impact MSTR/BTC, BTC price, and preferred shares like STRC. Yet, MSTR/BTC declined from July 2 to July 17. Since the start of this week, however, MSTR/BTC has begun to rise. Meanwhile, BTC price has surged to $66,700. As for the preferred shares, the company’s USD reserves cover all preferred dividends through April 2028 and part of May. Preferred share prices have also risen: STRC is now at $88.5, STRF at $95, and both STRK and STRD are showing upward trends. @salyor previously made it clear that STRC should be restored to par value. MicroStrategy’s CEO, @phongle, stated even more explicitly: “Bring $STRC back to par, issue more $STRC, and buy $BTC.” Thus, this is a cycle: → Issue $MSTR to increase USD reserves and push $STRC back to par, → Issue $STRC to raise capital and buy $BTC, → Ultimately stimulate an increase in $MSTR price. Therefore, the temporary dilution of MSTR is merely the starting point—the ultimate goal remains to drive upward momentum in both BTC and MSTR prices. When STRC returns to and stabilizes near $100, that will be the signal for MicroStrategy to buy BTC!