Cantor analyst Brett Knoblauch said Strategy's recovery depends on its ability to bring its preferred stock, STRC, back near the $100 par value. Cantor believes that if STRC remains below par, it will limit Strategy's ability to raise funds through preferred stock issuance to buy BTC and weaken the virtuous cycle of its capital structure. Previously, Strategy had built a reserve of approximately $2.55 billion and authorized up to $1.25 billion in BTC selling capacity to support dividends, buybacks, or liquidity needs. (CoinDesk)