Key facts: MSTR $1B pref, $1B ClsA, $1.25B BTC sales, div12%; mNAV<1

MSTR announced: $1B preferred repurchase, $1B Class A buyback, Bitcoin sales program up to $1.25B, preferred dividend raised to 12%, USD Reserve ~$2.55B (min target ~$1.76B).MSTR’s

MSTR announced: $1B preferred repurchase, $1B Class A buyback, Bitcoin sales program up to $1.25B, preferred dividend raised to 12%, USD Reserve ~$2.55B (min target ~$1.76B).
MSTR’s mNAV fell below 1, so market value of its Bitcoin holdings exceeds enterprise value, limiting the company’s capacity to issue new common shares for buying more Bitcoin.
MicroStrategy (MSTR) announced a share buyback and plans to sell some Bitcoin to bolster investor sentiment. Shares jumped about 7.5% on the announcement amid prior declines.
MSTR fell below $100 support; downside risk noted with major support around $70–$75. Reclaiming $100 could precede a relief bounce toward about $120.