A Brief Discussion on the Main Tools for Supporting Micro Strategies to Continue Buying BTC Regarding the current major BTC buying micro strategies, their main buying funds come from STRC, which is the perpetual preferred stock issued by MSTR. It has been listed on NASDAQ and can be traded by most securities firms. It is a separate stock from MSTR. Understanding the structure and operational logic of STRC is also helpful for current BTC trading, as its importance in contributing to buying is self-evident STRC is essentially a debt like equity instrument that falls between bonds and stocks, with high interest rates but no obligation to repay principal at maturity. Saylor uses the money raised from issuing STRC to directly buy Bitcoin, forming a positive cycle of<perpetual financing → continuous BTC buying> The product itself is specifically designed for investors who want to have stable cash flow but also want to indirectly get involved in Bitcoin (but do not want to bear the huge fluctuations of MSTR common stocks). Currently, there are also some carry trades that use STRC as collateral for margin trading and short selling to buy other assets (with a 6.5% interest spread on loans), which is a bit like stacking Lego Of course, although STRC has a more compliant structure and financial security compared to Luna, its returns are still closely tied to BTC not continuing to plummet. If BTC remains low for a long time, the company's cash flow may be tight, dividends may remain high for a long time, financing difficulties may increase, and eventually it may slowly dilute or default (but it will not be cleared in a few days), and the company can also modify the adjustment framework and price anchor at any time ——So, in my opinion, the act of using STRC as cash reserves is quite dangerous, and the closer operation is a bit like a lower risk version of sell put. If BTC doesn't go black swan, then everything will be fine. Players who are bullish on digital assets but do not want to bear the volatility are more suitable. Pay attention to the key point of "bullish"! Instead of completely risk-free financial management! What is the correlation with BTC? I am considering incorporating the relevant data dimensions of STRC into my trading system. From the news reports related to the historical K-line and STRC, it can be seen that within half a month after "Strategy recorded the largest single day issuance of STRC stocks in history on March 10th, raising funds to purchase about 1420 Bitcoin", BTC experienced a long lost strong performance and several consecutive days of bullish sentiment (of course, the actual MSTR rose even more that week). It can be intuitively judged that the issuance and fundraising situation of STRC is closely related to the price trend of BTC