When I saw Strategy CEO call “selling for $BTC at 60k, then buying back at a higher price” a correct trade, my first reaction was also uncomfortable: sell low and buy high—how can that be right? Later, I figured out one thing: what he’s calculating might not be a price swing, but the cost of capital. For BTC in the hands of institutions like this, it’s more like long-term reserves on a balance sheet, not chips to be traded. Selling at 60k might simply be adjusting exposure or meeting funding needs; buying back at a higher price, in turn, could indicate that it’s still considered worth holding—just at a different cost. Retail investors tend to focus on the buy-in price, while institutions look at capital efficiency, risk budgets, and the overall balance sheet. Trying to fit this kind of move into a “crypto-trading” mindset makes it very easy to misread. I also don’t want to frame this as something that’s purely forced. Changes in financing costs and collateral requirements can affect timing, but that doesn’t equal being bearish on BTC. On the contrary, it suggests BTC has entered a large-capital financial framework. BTC will still fluctuate in the future; what’s truly important may not be whether any single buy or sell was “pretty,” but whether more and more institutions are willing to include it in long-term portfolios. Understanding the logic behind your own holdings is more useful than mocking or copying someone else.