Strategy’s bitcoin-fueled model is unraveling as its premium vanishes and its own valuation metric overstates reality.
WSJ •
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Promote with Leviathan News3,588 BTC is not a theoretical monetization program anymore. Strategy’s July 6 8-K says it sold that amount for $216M between June 29 and July 5, with proceeds used for preferred distributions and to refill the USD reserve. STRC now looks less like a funding flywheel and more like a senior claim on the bitcoin stack, with another $1.25B of BTC sale capacity still unused as of July 5, 2026.
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