StJamesLIVE💛💚🤎

Strategy’s updated capital approach: refined toolkit, unchanged core risk. As much as $1B allocated for MSTR repurchases, $1B set aside for STRC repurchases, dividends projected at around 12%, cash reserves increased to $2.55B — along with authorization to liquidate up to $1.25B in BTC if necessary. The market reacted positively: STRC and MSTR surged over 12% in after-hours trading. However, the discussion remains unresolved. Skeptics perceive a persistent reflexive cycle (funding → BTC → capitalization → funding) that could reverse under pressure, with some making comparisons to LUNA. Others contend that the primary concern has never been the price of BTC — it’s the ability to access capital markets. A three-year stress assessment indicates the firm can endure even a 55% downturn in BTC with markets closed — albeit at a significant detriment to shareholders’ BTC-per-