🚨 Strategy’s Dividend Dilemma, TLDR @saylor has to hit the common stock atm if he isn't willing to sell any bitcoin. This chart shows $584.6M in annual preferred dividends owed: STRD → $120.9M STRK → $103.7M STRC → $252.1M STRF → $107.9M Total ≈ $48.7M/month 💸 But here’s the problem: Cash reserves ≈ $55M (aprox) Ops cash flow ≈ $7M/month Shortfall ≈ $40M+ every month If ATMs shut down and no new capital comes in: < 2 months before a liquidity crunch Options: 1️⃣ Suspend dividends 2️⃣ Pay in stock (heavy dilution) 3️⃣ Sell or pledge BTC 😱 No ATMs = Bitcoin liquidation risk. As @tomyoungjr first brought up, a SPAC funded by Strategy's bitcoin buys would trade,loan, pay dividends, which includes the sale of bitcoin.