[Saylor Elaborates on Strategy's Digital Credit Strategy: STRC Can Be Issued Above Par Value, Repurchased Below Par Value] Strategy Executive Chairman Michael Saylor published an article explaining the company's 'digital credit' strategy: The company positions MSTR common stock as an amplified Bitcoin exposure and ownership of the digital credit business, while STRC preferred stock is positioned as a tool to provide dollar yields and reduce price volatility. Strategy can issue additional STRC shares when the price is above par value and issuance conditions are favorable, and repurchase STRC shares at its discretion when the price is below par value, to adjust circulation scale and future dividend burdens. Saylor stated that the company distinguishes dollar liquidity into reserves for paying preferred stock dividends and debt interest, and funds that can be used for purchasing Bitcoin, repurchasing securities, and other purposes. The daily dividend accrual plan for its U.S.-listed preferred stock still requires approval. He emphasized that repurchases do not guarantee a price floor for STRC, nor does STRC guarantee principal stability or dividend payments.