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#Strategy上周减持3588枚BTC
Strategy has issued multiple types of preferred stocks (STRK, STRF, etc.) with promised fixed dividends: STRK: 8% annual dividend; STRF: 10% annual dividend. This means: regardless of BTC's fluctuations, they must pay every quarter. It is a leveraged game of using BTC as collateral for financing, then buying more BTC. When BTC falls, impairment losses surface; when cash is insufficient, they have to sell BTC to pay dividends. Essentially, Strategy turns Bitcoin into a "perpetual motion machine," but this machine requires continuous cash maintenance.
Strategy’s reduction is not a bearish signal but a financial management move. However, it reminds us that leverage has a cost: exchanging fixed interest for volatile assets looks ugly in a bear market. BTC's structure itself hasn't changed; what has changed is the need for more caution in how it is held. (Personal opinion, not investment advice.)
$BTC