Strategy sold 3.45 million MSTR shares between Aug. 10 and Aug. 16, raising $333.7 million and using the proceeds for STRC preferred-stock dividends, STRC repurchases and cash reserves rather than buying more Bitcoin. The company spent $52.4 million on dividends for its Variable Rate Series A Perpetual Stretch preferred stock, or STRC, used $132.2 million to repurchase STRC shares, and added $149.1 million to its U.S. dollar reserve, which rose to $4.8 billion, while Bitcoin holdings stayed at 840,447 BTC acquired for $63.36 billion at an average price of $75,385 per coin. In public comments, Executive Chairman Michael Saylor said supporting STRC is central to Strategy's broader funding model and argued that even a hypothetical $10 billion short in STRC at par would benefit the company by expanding available credit, though critics including DeFi analyst Viktor said the $100 cap could distort trading, shift rather than reduce volatility, and force Strategy to defend the preferred stock by selling Bitcoin or MSTR at unfavorable prices.