Strategy sold $2.5M in bitcoin to fund preferred stock (STRC) distributions, with Saylor framing STRC as the 'world's best credit instrument' — essentially pledging bitcoin treasury yield to support preferred shareholders. The setup creates tension: equity dilution risk for MSTR common holders while STRC preferred gets prioritized, and insider selling (21 sales vs 2 buys in 30 days) undercuts the bullish framing.