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Click the trading widget in Gate Square content, complete a transaction, and take home 50 GT, Position Experience Vouchers, or exclusive Spring Festival merchandise.
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https://www.gate.com/questionnaire/7401
Enter Gate Square daily and click any trading pair or trading card within the content to complete a transaction. The top 10 users by trading volume will win GT, Gate merchandise boxes, position experience vouchers, and more.
The top prize: 50 GT.
 is to have a cash buffer so there's no need to sell Bitcoin, even if the market declines for three consecutive years.
➥ The funds for the dollar reserve were obtained by selling shares at a price above net asset value (mNAV)—this is beneficial for shareholders and does not weaken the company's position.
➥ Strategy actively uses perpetual preferred shares. This is a new instrument—the market needs 1.5-2 years to properly value it (just like with the BTC strategy and debt instruments).
➥ Preferred shares yield 10%+ and are more advantageous than regular bonds, especially now, with a dollar reserve available for dividend payments.
➥ The company buys Bitcoin when possible. Strategy are not traders but investors. Trying to catch the bottom is pointless; professional funds are always faster.
➥ When Bitcoin declines and mNAV remains above 1, buying BTC through share issuance becomes even more profitable.
➥ The main thing is not the price of Bitcoin, but the company's ability to increase the amount of BTC per share and maintain investor trust. Strategy is neither an ETF nor a fund.
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