After yesterday's disclosure of selling 32 BTC on WeChat Strategy, Michael Saylor did not provide any explanation and only tweeted, "Our goal is to make STRC the best credit tool in the world." This means that whether it is the rise and fall of stock prices or coin prices, buying and selling, we will make concessions and serve STRC to continue the operation of this risk-free dividend distribution financial machine for a long time. However, currently there are only six months of funds left on the book to pay dividends, and the BTC sold is equivalent to lubricating this machine. Therefore, for Michael Saylor, the biggest problem is not the decline of BTC, nor is the insufficient reserve of dividend funds, but that no one continues to buy STRC and treat it as a risk-free high-yield wealth management product. The fate of the entire micro strategy. The key lies in whether it can continue to absorb new funds. Now, two awkward periods have collided, with BTC on one side The sustained volatility after the high-level halving, coupled with the fact that the cash reserves of the micro strategy are only sufficient for six months of interest payments and the new round of financing has not yet been fully received, has put potential buyers of STRC in a wait-and-see state. The 32 BTC sold this time is insignificant compared to the overall position, and there is no need to sell at all. However, Michael Saylor should be sending a signal to STRC holders and future buyers: "Don't worry about me defaulting on STRC's interest payments, just keep buying. Even if I can't raise new money, I will sell BTC to pay you interest! ” The BTC held by Micro Strategy is currently worth 60 billion US dollars. Assuming that all of it is sold, it is enough to pay interest for 3 years. As a buyer of STRC, whether your BTC rises to 1 million or returns to zero has nothing to do with me. I only want to get a risk-free return of 11.5%. Therefore, if Micro Strategy can sell all of BTC to me and pay interest, then I am also willing to buy your STRC! So the 32 BTC sold by Michael Saylor is likely a statement made to give confidence to potential buyers of STRC.