Here’s the translation: --- My logic has one premise: It’s not about saying MSTR should actively sell large amounts of BTC right now. It’s about the reality that— If they already need to sell a small portion of BTC every year to pay STRC dividends, or if STRC stays de-pegged for a long time, they’ll eventually be forced to sell BTC to save STRC. Then instead of directly announcing “I’m going to sell BTC,” which would scare the market, Why not take a smarter approach: Use the portion of BTC they might need to sell in the future to write short calls. If BTC doesn’t rise to the strike price, they pocket the premium for free. This premium can be directly used to buy STRC, providing market support and giving confidence to those bottom-fishing STRC. If BTC does rise to the strike price, it means the market is already strong, and MSTR selling a small portion of BTC wouldn’t be that scary. The key is, MSTR should send a message to the market: Selling BTC isn’t scary. What truly matters is— As long as the BTC MSTR buys every year far exceeds what they sell, the flywheel keeps spinning. The market isn’t afraid of selling a little BTC. The market is afraid of not seeing rules, not seeing rhythm, not knowing how STRC’s peg will be maintained. So I think what MSTR should do now isn’t stubbornly insisting they’ll never sell BTC. Instead, they should make the market understand: I can sell a little, but I’ll sell with discipline. I can use derivatives to generate cash flow in advance without compromising the long-term BTC position. I can maintain STRC’s credibility while continuing to expand BTC reserves. This is far more sophisticated than suddenly announcing a BTC sale. ---