The old pair trade was long STRC/short MSTR. Now with Strategy signalling they are going to sell STRC, to buy back common stock + pay off the convertible debt (which is a large portion of the short interest of the common stock. The new pair trade could be long MSTR/short BTC (working theory). MSTR YTD: 19% BTC YTD: 9%.(James Van Straten)