Posteo

The "$5B Strategy BTC overhang" narrative is being overstated. That figure combines several different items: A cash reserve bucket The then-current annual cash obligation of $1.76B Two optional share buyback authorizations Not all of those are fixed. The annual cash bill can change, and the buyback programs are entirely discretionary. As of July 26, Strategy held $3.75B in USD, enough to cover roughly 2.1 years of preferred dividends and interest at the then-current run rate. Between July 20–26, the company also: • Added $525M to its cash reserve through MSTR ATM proceeds. • Spent just $25M on STRC buybacks. A true structural BTC supply risk would require repeated Bitcoin sales alongside a steadily shrinking cash reserve. Until we see that, the "$5B overhang" remains a relatively weak bearish argument for Bitcoin. $BTC #30YYieldAt19YHigh #SpaceXUnlockLooms #EarningsWeekAhead #DailyOrbit #USStepsInForYen #OKXTraderVoices