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But we saved everything 🙂.
James Van Straten, industry influencer, suggests a strategy using BTC loss harvesting to create a larger tax shield, then using the proceeds to buy MSTR shares below 1.22 times mNAV, which in turn increases basis points per share (BPS).
He further notes that issuing STRC tokens to replace the BTC sold can help keep total BTC exposure unchanged.
Van Straten has previously noted that Bitcoin has outperformed gold for two consecutive months, a trend reminiscent of the 2019 mid cycle correction, according to his earlier analysis. He also observed that BTC implied volatility recently dropped below 40, reaching a bottom quartile level last seen in Summer 2023 and 2025, as detailed in another report. Both developments highlight a series of conditions watched by market participants in recent months.