⚡ In a bear market, STRC's cumulative funding has reached $5 billion — At the beginning of February, tracking data showed STRC was around $3.4 billion, growing at an impressive pace! Over the past two weeks, STRC trading volume has surged, averaging around $100 million per day. This roughly translates to supporting $100–150 million worth of BTC buying pressure. This not only helped Strategy @Strategy absorb a significant amount of BTC (Strategy bought 22,337 BTC in a single week, equivalent to 7 weeks of mining output) but could also reshape the traditional halving cycle's influence. According to external data, in Strategy's latest round of BTC purchases, STRC has started to account for a considerable proportion of the funding source. Originally, there was only one path: "stock price premium → issuing shares and bonds → buying BTC." Now, it's a multi-pronged approach with money from the stock market + yield market + other capital tools all working together to support BTC position expansion. As I write this, I’m still pondering the same question — Can STRC be considered a quasi-mechanical buying force on the demand side of BTC? It may not be as rigid as miner output, but at least it’s more stable than the purely sentiment-driven buying of the past. If the halving logic is truly rewritten, what would be the real trigger for Strategy's risk?