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The selling I flagged is now a pattern, not a one-off. Strategy sold another 1,638 BTC, roughly half the size of its first sale, cutting holdings to about 842,138 BTC, and paired it with fresh share issuance to fund preferred dividends and buybacks. This is the second sale in weeks from a company whose entire brand was "never sell." The model is being managed in real time now. Read it for what it is, not the headline. This isn't a bitcoin-conviction problem, it's a cash-flow one: a leveraged holder with dividends and debt is using its most liquid asset to meet obligations when the stock and coin aren't doing the heavy lifting. Selling BTC to fund dividends backed by more share issuance is a machine that works beautifully in a bull market and grinds in a flat one. Not a collapse, a maturing, and a live demonstration of why owning BTC and owning a BTC-treasury company are different risks. Watching whether the sales keep shrinking or keep coming. Not advice, just analysis. #StrategySellsMore #OKXOrbit