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Steven Lubka reports that Strategy is making a significant adjustment to its approach regarding preferred shares. The company is reinforcing its policy to ensure that its USD reserve remains above 12 months in a more binding manner and is initiating a repurchase program targeting STRC and other preferreds.
Lubka has previously commented that most crypto projects beyond stablecoins and asset trading have ended, as noted in his analysis of the latest bear market. He also observed low sentiment surrounding the SpaceX IPO, suggesting that negative views could precede strong performance in his report on the offering. His recent coverage focuses on policy changes and reserve management strategies.