[Arthur Hayes: Strategy Faces Three Choices Amid Bitcoin's Sideways Movement—Issuing Shares, Selling Bitcoin, or Cutting Dividends] Odaily Planet Daily reports that Arthur Hayes stated Bitcoin has been trading sideways near $80,000 for most of this week, which may undermine the operational foundation of Strategy's Bitcoin strategy. Strategy currently holds 840,447 Bitcoins and needs to pay approximately $1.5 billion in annual dividends for STRK and STRC. The enterprise value mNAV of the digital asset treasury company Strategy is about 1.01x, with the base mNAV and diluted mNAV as of August 27 at approximately 0.73x and 0.74x, respectively, nearing the book value of its Bitcoin holdings. Arthur Hayes pointed out that Michael Saylor could choose to issue new shares, directly sell Bitcoin, or reduce preferred stock dividends. The dividend yield for STRK is 8%, while STRC's dividend yield ranges between 10% and 11.5%. (Bitcoin.com News)