Sharing some thoughts on the current $STRC situation. Strategy made clear that getting STRC back near $100 is now a top priority. It’s trading around $90. A few things still need to click for the price to stabilize: 1. Consistent buybacks with visible size. They already have a $1B Digital Credit repurchase authorization and executed the first $25M tranche (July 20–26) at an average of ~$86.50. The stated policy is to remain a regular, disciplined buyer while STRC trades below $100, faster at deeper discounts, tapering as it approaches par. Making the cadence and size more transparent (weekly or bi-weekly updates) would help rebuild trust faster. They also have to balance this against growing the USD Reserve (currently $3.75B, >2 years of dividend coverage). Clear, repeated buying tends to pull more capital in once the trend toward $100 becomes visible. 2. New pattern for ATM Issuance The old pattern of heavy ATM-style issuance when STRC was near or above par created the perception that buyers were just exit liquidity for Strategy’s balance-sheet needs. They need to change that and make issuance more flexible and do it only when market is favorable. To get real momentum, Strategy probably needs to push it into the mid-90s like $95 and hold that zone long enough for fresh liquidity to show up. At that point the two clear upsides become obvious: • Price recovery toward the $100 stated amount • ~12% annualized yield (semi-monthly) while buybacks are still defending the range Once the model is tightened around these points, STRC should be in a much stronger position, especially if Bitcoin enters a sustained uptrend. Nothing is guaranteed on the BTC side, of course. The capital framework, semi-monthly dividends, USD Reserve build, and first buybacks are already in place. Execution and communication consistency from here will decide how fast trust returns.