STRC hits $100 by…

$STRC up 35% since an explosion of first time commentators created an opinion on a topic they know nothing about

$STRC up 35% since an explosion of first time commentators created an opinion on a topic they know nothing about

There's a good chance that STRC will literally be unable to reach $100.00 until Saylor capitulates • • As long as the market knows that Strategy will be ATMing at $100, the incentive to short/sell at $99.9 is soooo high, and now everyone knows about it, unlike 3 months ago

There's a good chance that STRC will literally be unable to reach $100.00 until Saylor capitulates • • As long as the market knows that Strategy will be ATMing at $100, the incentive to short/sell at $99.9 is soooo high, and now everyone knows about it, unlike 3 months ago

The only thing the market has to do to force Saylor's hand is to keep STRC strictly under $100 • • And Strategy still hasn't figured out that they are providing immense incentive for shorting right below $100 by automatically ATMing STRC at $100.00

The only thing the market has to do to force Saylor's hand is to keep STRC strictly under $100 • • And Strategy still hasn't figured out that they are providing immense incentive for shorting right below $100 by automatically ATMing STRC at $100.00

MARKETS: $STRC surges 30%+ from its June low to $94 as @Strategy sells $BTC to fund dividends, repurchases $106M in preferred shares and builds its USD reserve to $4B

MARKETS: $STRC surges 30%+ from its June low to $94 as @Strategy sells $BTC to fund dividends, repurchases $106M in preferred shares and builds its USD reserve to $4B

MARKETS: $STRC surges 30%+ from its June low to $94 as @Strategy sells $BTC to fund dividends, repurchases $106M in preferred shares and builds its USD reserve to $4B

MARKETS: $STRC surges 30%+ from its June low to $94 as @Strategy sells $BTC to fund dividends, repurchases $106M in preferred shares and builds its USD reserve to $4B

Strategy’s STRC rebounds 30% as company builds cash reserve, bitcoin price stabilizes. • Bitcoin sales, what is now a $4 billion cash reserve, and a $975 million repurchase program, have supported STRC’s recovery.

Strategy’s STRC rebounds 30% as company builds cash reserve, bitcoin price stabilizes. • Bitcoin sales, what is now a $4 billion cash reserve, and a $975 million repurchase program, have supported STRC’s recovery.

@BTCBeliever21 @NickKaknes @Strategy Ofc not lol • • As long as he keeps selling STRC at $100 and not higher, there is a free short at $100, ie a good short at $99 too • • The sell pressure will become immense above $99

@BTCBeliever21 @NickKaknes @Strategy Ofc not lol • • As long as he keeps selling STRC at $100 and not higher, there is a free short at $100, ie a good short at $99 too • • The sell pressure will become immense above $99

Our corporate objective is to return $STRC to $100, and we have the means to do it.

Our corporate objective is to return $STRC to $100, and we have the means to do it.

Our corporate objective is to return $STRC to $100, and we have the means to do it.

Our corporate objective is to return $STRC to $100, and we have the means to do it.

That's more rational again • • $STRC currently trading at $93.5

They are specifically targeting a 1% range, which is physically impossible (and the price action has proven it already). • • Given STRC size, and given the fact that its dividend rate is stable on a 1-month time horizon, there's no way to prevents its volatility from being rather close to STRF volatility, ie regular 10% swings in a month. • • Planning for STRC to trade between $99 and $100 as an equilibrium state means they are completely delusional about their instrument because it will never ever have such a low volatility, even if BTC were to reach $1M in 3 years. • • Hitting the ATM at $100 is horrendous too because it highly incentivizes everyone (both holders and short-sellers) to sell at $100 or as close to $100 as possible. • • Because there's no way to escape at least a 10% volatility range, it means STRC will trade (at best) between $90 and $100, when the goal is to have it trade close to $100

They are specifically targeting a 1% range, which is physically impossible (and the price action has proven it already). • • Given STRC size, and given the fact that its dividend rate is stable on a 1-month time horizon, there's no way to prevents its volatility from being rather close to STRF volatility, ie regular 10% swings in a month. • • Planning for STRC to trade between $99 and $100 as an equilibrium state means they are completely delusional about their instrument because it will never ever have such a low volatility, even if BTC were to reach $1M in 3 years. • • Hitting the ATM at $100 is horrendous too because it highly incentivizes everyone (both holders and short-sellers) to sell at $100 or as close to $100 as possible. • • Because there's no way to escape at least a 10% volatility range, it means STRC will trade (at best) between $90 and $100, when the goal is to have it trade close to $100

Basically the r/r for holding STRC at $100 is atrocious if we know they will always hit the ATM at $100, because you get all the downside volatility and only 1% yield every month as upside. Given the type of volatility STRC has (10% swings), if you short it at $100, you're almost certain that you'll get out in profit on its next drawdown. • • Strategy claims that they target a 1% range at $99-$100, but that's physically impossible, because even if the dividend rate is variable in theory, in the short-term the div rate is fixed, meaning it will have a similar volatility profile as STRF, ie at least 10% swings. • If you cap the upside at $100, the 10% swings will be capped at $100 and you mechanically decrease the bottom of these volatile moves. I think it's much more realistic to target a $95-$105 range, because the average price of STRC would then be around $100 (which is the goal). In the current situation, by trying to be cute and "guarantee that STRC won't top $100", Strategy forces the whole thing to trade in a $90-$100 range (at best), meaning the average price of STRC is significantly below $100.

Basically the r/r for holding STRC at $100 is atrocious if we know they will always hit the ATM at $100, because you get all the downside volatility and only 1% yield every month as upside. Given the type of volatility STRC has (10% swings), if you short it at $100, you're almost certain that you'll get out in profit on its next drawdown. • • Strategy claims that they target a 1% range at $99-$100, but that's physically impossible, because even if the dividend rate is variable in theory, in the short-term the div rate is fixed, meaning it will have a similar volatility profile as STRF, ie at least 10% swings. • If you cap the upside at $100, the 10% swings will be capped at $100 and you mechanically decrease the bottom of these volatile moves. I think it's much more realistic to target a $95-$105 range, because the average price of STRC would then be around $100 (which is the goal). In the current situation, by trying to be cute and "guarantee that STRC won't top $100", Strategy forces the whole thing to trade in a $90-$100 range (at best), meaning the average price of STRC is significantly below $100.

Repurchases will be funded outside the USD Reserve, including through MSTR and BTC sales, based on market conditions. Our objective is for STRC to trade near $100 with high liquidity, low volatility, and healthy, sustainable independent demand. We will not issue below $100.

Repurchases will be funded outside the USD Reserve, including through MSTR and BTC sales, based on market conditions. Our objective is for STRC to trade near $100 with high liquidity, low volatility, and healthy, sustainable independent demand. We will not issue below $100.

Repurchases will be funded outside the USD Reserve, including through MSTR and BTC sales, based on market conditions. Our objective is for STRC to trade near $100 with high liquidity, low volatility, and healthy, sustainable independent demand. We will not issue below $100.

Your decision should be to stop hitting the ATM at $100 (only ATM at your own discretion anywhere above $100) and to stop trying to target a $99-$100 range because it's literally impossible. Best range you can get is probably $95-$105 • • The STRC trilemma is that you can't have these 3 things at the same time: • • - high market cap for STRC (ie scale) • - dividend rate that only adjusts once a month and by 50bps max (ie quasi stable on short timeframes) • - a tight 1% price peg

Your decision should be to stop hitting the ATM at $100 (only ATM at your own discretion anywhere above $100) and to stop trying to target a $99-$100 range because it's literally impossible. Best range you can get is probably $95-$105 • • The STRC trilemma is that you can't have these 3 things at the same time: • • - high market cap for STRC (ie scale) • - dividend rate that only adjusts once a month and by 50bps max (ie quasi stable on short timeframes) • - a tight 1% price peg

At Strategy, we value theory but focus on phenomenology: observing market behavior, learning, and refining our approach. • • Our objective is for $STRC to trade at $99–$100 over time. We continuously evaluate its performance and use empirical observations to inform our decisions.

At Strategy, we value theory but focus on phenomenology: observing market behavior, learning, and refining our approach. • • Our objective is for $STRC to trade at $99–$100 over time. We continuously evaluate its performance and use empirical observations to inform our decisions.