MicroStrategy's 'buy-only, no-sell' era is officially loosening up. In the latest capital framework, Strategy is allocating up to $2 billion to repurchase preferred and common stock, aiming to fix mNAV and financing channels. At the same time, they've authorized up to $1.25 billion in BTC liquidation to replenish reserves, pay interest, and stabilize credit. The key to this self-rescue lies in: can the time bought by selling BTC be exchanged for renewed market trust?