@0xdavide
🏦Strategy has built a reserve of $1.44 billion to pay dividends (STRD, STRK, STRC, STRF) by selling MSTR (diluting shareholders). This is to avoid the need to raise new capital or sell BTC.
In the future, this reserve will be replenished by:
1) Selling additional MSTR shares (if mNAV>1).
2) Selling a portion of BTC (if mNAV<1).
The mNAV captures the premium (or discount) investors assign to Strategy valuation overall.
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