
Strategy’s Bitcoin metrics go negative amid $3.2B cash – sells 7.5M shares but buys 0 BTC for 4 weeks
The company’s quarterly BTC Yield and BTC Gain turned negative after its share count rose while its 843,775-Bitcoin balance remained unchanged.
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The split between improving Wall Street demand and weakening trading liquidity leaves $57,000 in view if support fails.

Proposed trust changes would require no-less-than-quarterly cash distributions, creating a common cadence without fixing payout amounts or yield.

BTC PREF is expected to begin trading July 20, with any discount to SEK 120 lifting the indicated cash yield above 10%.

Tom Lee’s company plans to limit further accumulation while funding infrastructure that could expand Ethereum’s role in tokenized finance and artificial intelligence.

SPCX has erased its opening rally, but leveraged positions remain elevated before employees and early investors gain the right to sell.

The vote pits Satsuma’s future as a listed Bitcoin treasury company against a cash exit that could leave former convertible-note investors with vastly different recoveries.



