The start of the new week feels okay. As expected, the US TACO'd, the US-Iran agreement is progressing, and the conflict hasn't escalated. WTI is back around $70 — seems the $70 level is quite solid. Unless Hormuz is completely unblocked, it's not easy to break below $65 in the short term. Shorting directly now is not cost-effective.

If WTI can bounce back to 75 or the WTI-Brent spread widens to over $5, then I'll consider adding short positions; otherwise, the short-term risk-reward is low. My capital has already started rotating back into BTC dual currency, targeting 59,000 to continue building positions. I've already bought in batches at $62,000 and $63,000.

MSTR didn't buy any Bitcoin last week, but I'm actually quite satisfied — as I said last week, the optimal play at this stage is to "hunker down for winter": pause BTC accumulation, reduce preferred stock ATM, use more common stock ATM, and hoard cash. MSTR has done all of these, so today the preferred stocks including STRC performed well.

In the short term, there's no need to worry too much about MSTR blowing up. Current cash reserves are enough to pay preferred stock dividends for over a year. Selling BTC is a last resort; if they really sell, it will most likely be OTC rather than on the secondary market. And I think they won't rush to sell — although early positions are profitable, the recent average cost is still at a loss. Selling at a loss would be interpreted by the market as a negative signal, impacting the common stock ATM. So let's wait and see. Overall, MSTR's new framework today is not a bad thing for the market. #Saylor暗示增持BTC $BTC ‌