People who say they “buy high / sell low” miss one leg of the trade : when they bought “high” their common shares were even higher (premium) and now they sell low their shares are even lower (discount). They don’t actually sell that much bitcoin but are now financing buying cash and pref to build confidence for the stretch with common shares and Bitcoin, and not only common shares, as common shares are “as cheap or cheaper” than Bitcoin
Strategy now holds 842,138 BTC and just bumped its USD Reserve to $4.0B while repurchasing $81M of $STRC.nostr:nevent1qqs9gs6dcl3vala9nyp8re4r56y4cgzssx6sj798n6ehslpsz2nwdusw9su9e
They're extending USD Duration to 2.3 years and tightening STRC's BTC Credit spread by 5 bps.
