$STRC and $MSTR shareholders have approved the amendment to move $STRC dividends from monthly to semi-monthly. Under the new cadence, the first record date is June 30 and the first payment date is July 15. Thank you to every shareholder who voted. strategy.com/press/strategy-…

Dear $MSTR Haters, Watch this clip. Best, @AdamBLiv @PunterJeff

Retail was in bitcoin:native first, Institutions followed. Retail is adopting Digital Credit first, Institutions will follow. @AdamBLiv @PunterJeff

"Bitcoin was supposed to be..." No. Bitcoin just is. @AdamBLiv @PunterJeff

The capital markets use $MSTR to trade in all directions. It is one of the top 20 equities by volume consistently. The market treats this as a derivative of the underlying asset. bitcoin:native This is important. @AdamBLiv @PunterJeff

STRC is a CREDIT instrument. The question is "How much EXCESS Risk (price volatility), and EXCESS return (yield) does a holder take on compared to Cash, and other fixed income securities?" We did the math for you: $STRC and $SATA carry a similar "slope" of excess risk / return as $JNK, $PXG, and $HYG (other high yield alternatives); HOWEVER, with substantially higher income. Digital Credit is an entirely new ballpark of securities, and the instruments are less than a year old. The world is still learning how to interact, price, and quantify these instruments. There are ZERO historical examples to pull from. STRC is the fastest growing, most successful, most liquid preferred equity in history. There is no precedent, not a surprise the market is bewildered. Let the math and game theory be your North star.

Agenda PIVOT. We're on a FUD busting mission tonight. Chat soon

Strategy tracking day 559 $MSTR now ranked 233rd largest US company by market cap. Fell 5 positions in the last 34 trading days. Right behind $EBAY, yes the same Ebay that Ryan Cohen tried to buy weeks ago. Let's compare Ebay's balance sheet, shall we? Assets: $17.8 Billion ($4.4B, ~24.7% is goodwill) Liabilities: $13.4 Billion Net Assets: $4.4 Billion Market Cap: $48.3 Billion Price to Book Ratio: 10.9x Price to Book Ratio (net of Goodwill): -947x (assets worth less than liabilities, net of goodwill) Bitcoin held: ZERO P/E Ratio: 24x Revenue: $11.6B TTM Net Income: $2.53B For reference, Strategy has raised $10.4 Billion on STRC in the last 11 months. Sits on 843,000 Bitcoin, currently valued at $56 Billion Debt Liabilities: $6.7 Billion Net Assets: $49.3 Billion. Price to Book Ratio: 0.97% Strategy has MORE NET ASSETS ON BALANCE SHEET TODAY THAN EBAY HAS IN MARKET CAP. Others: Net assets / P/B ratio XEL: $23 Billion (2.0X) ETR: $17 Billion (2.9x) LNG: $13.7 Billion (3.8x) AZO: -$3.2 Billion (yes, negative) (-15.4x) NDAQ: $12.2 Billion (4.1x)

Episode 60 of the Hurdle Rate, out now! We hit on: - @Strive recent BTC buy - Digital Credit: STRC & SATA market movement - Conceptually analyzing the math behind amplification and risk - Market incentive structures Lots to unpack, straight shot of alpha from CEO, CIO & CRO

The important context behind Strategy selling 32 BTC is S&P. When S&P assigned Strategy a “B minus” credit rating, it cited reliance on capital markets as a weakness, “particularly since the company is reluctant to sell bitcoin it holds as investments.” This sale directly rebuts that critique. Rather than showing a change in treasury philosophy, Strategy showed that BTC is not trapped on the balance sheet. It is a liquid reserve asset that can be accessed when management decides it is economically rational.

High Yield, Low Volatility, and High Liquidity. $SATA $STRC "That's like the Trifecta." @PunterJeff @_DannyKnowles

Boom. @PunterJeff back on with @_DannyKnowles: youtu.be/Et8Wm_TPDwM?si=WRaD…