When, not if, @strategy's mNAV compared to EV drops below 1 (probably in Jan 2026), what's the only way for @saylor to deliver value to shareholders? Correct, by selling #bitcoin and buying mstr. Saylor has no other way. He already destroyed "Bitcoin Yield" for Q4. It will get nightmarish going forward. The business is burning 800mil USD a year. The prefs are in steep discount and trading volume is trending to 0. The convertible bonds will be the ultimate killer. The marketcap will very likely be below its cash position by end of 2026... and yes, I am aware that's 2b USD right now.(Dr. Julian Hosp)