STRC dumping to $73.62 against $100 par matters more than another Saylor drawdown because it turns Strategy from a reflexive spot bid into a credit workout. Once the preferred-stock machine breaks, BTC sales, reserve coverage and buybacks start competing with accumulation, and Strategy just built a $2.55B cash reserve while holding 847,363 BTC. A cleaner bottom would be STRC grinding back toward par without another dividend hike, not just BTC reclaiming $61K.

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Michael Saylor signals another bitcoin buy as Strategy sits about $13 billion underwater

Michael Saylor signals another bitcoin buy as Strategy sits about $13 billion underwater

The Block ·

Strategy's enterprise mNAV falls below 1 for the first time, signaling investors now value the firm's capital structure below the Bitcoin held on its balance sheet

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Investors turn to Strategy's June 30 STRC ex-dividend date as markets await the preferred stock's monthly dividend rate reset amid heightened Bitcoin volatility

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Grant Cardone says Cardone Capital will keep buying Bitcoin with rental cash flows, positioning its $200M BTC strategy as an alternative to Strategy's debt-funded playbook

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The math is becoming harder to ignore: Strategy's annual dividend obligations have climbed to $1.2 billion, cash reserves have fallen 38% in 2026, and dividend coverage has dropped from more than seven years to only 14 months. Rebuilding liquidity may soon take precedence over additional Bitcoin purchases.

The math is becoming harder to ignore: Strategy's annual dividend obligations have climbed to $1.2 billion, cash reserves have fallen 38% in 2026, and dividend coverage has dropped from more than seven years to only 14 months. Rebuilding liquidity may soon take precedence over additional Bitcoin purchases.

Cryptoquant ·

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