This is now the company’s longest stretch without a bitcoin purchase since late 2024, at three weeks. Saylor’s next move should be to sell the $1.25 billion of bitcoin which has been authorized. Until he sells it will continue to weigh on the market. For STRC to recover to par, bitcoin now needs to move higher. That said, STRC has likely found its low, supported by more than 18 months of dividend coverage in cash. Shorts have most likely cleared now.(James Van Straten)