Did you know Strategy just sold 1,690 BTC to repurchase its own preferred stock? The company, formerly MicroStrategy, added $650 million to its USD reserve through MSTR common stock ATM sales and used $108.6 million in Bitcoin sale proceeds to buy back $109 million of STRC preferred shares. It still holds 840,447 BTC. This shows its Bitcoin treasury model is no longer a simple accumulation story — Strategy is actively managing cash reserves, preferred stock, and equity issuance. A larger USD reserve gives it flexibility to meet obligations without rushed Bitcoin sales during volatile markets. The market is watching liquidity and capital structure, not just the BTC count. $BTC #Bitcoin #Crypto #Strategy