Wu said that Galaxy Research head of research Alex Thorn's latest analysis pointed out that Strategy launched a new digital credit capital framework this week. By establishing a dollar cash reserve policy, adjusting STRC dividends, authorizing up to $1 billion in preferred stock and common stock buybacks, and introducing a bitcoin monetization mechanism, it effectively alleviated market concerns about its short-term liquidity, buying the company more time. However, the report believes that Strategy's long-term structural issues remain unresolved, and it still needs to address growing preferred stock dividends and the pressure of approximately $6.7 billion in convertible bonds maturing between 2027 and 2028. The report also suggests that Strategy could explore conservatively lending out some of its bitcoin or using options strategies to generate returns, rather than simply selling BTC, in order to reduce financing pressure.

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