Someone is gonna get stretched. Saylor has three options now: 1. Sacrifice BTC: sell btc, raise cash and/or buy back STRC AND MSTR. 2. Sacrifice MSTR: dilute common holders and pay STRC dividend and/or buy btc to maintain a facade of “business as usual” 3. Sacrifice STRC: let it be or pause dividend The logical one is to sell btc because mNAV<1. But that will tank btc plus it is accepting defeat and losing their rason detre. Instead the one that will be consistent with the narrative and keep retail busy is to buy more btc and dilute. That is bad news if you are a shareholder. And good news if you are a btc holder.(Sina 🗝️⚡ BI Report)