Last week, MSTR continued selling BTC~ They sold 1,690 BTC at an average price of $64,262, cashing out $100M... This $100M was entirely used for STRC buybacks, and the price of STRC has slowly climbed back to around $95. At the same time, they sold approximately $650M worth of common stock last week... This $650M wasn’t used to buy BTC; almost all of it went into their cash reserve pool. Currently, their cash reserves have reached $4.6B... Considering their total BTC holdings are worth about $55B right now... their cash reserves are already equivalent to 8% of their BTC value at this moment. This doesn’t seem like it’s just about “surviving this bear market.” Because if we go by their current annual interest expense of $1.7B (as disclosed on their official site), this $4.6B already exceeds their previous 24-month target... Are they stockpiling ammo for the next cycle? Waiting for the next wave of demand narratives to come and then firing their shots to fuel the fire? Or do they feel that a 24-month safety cushion isn’t enough and are aiming for 36 months? (Right now, they have enough to cover 32 months of interest.)