This is very measured, and it's great to see. Michael took an even more thoughtful and disciplined approach than I had suggested.
This is a win for Bitcoin, a win for the common shareholders, and a win for the preferred holders. If Bitcoin can remain around $60,000 while Strategy sells up to $1.25 billion of BTC, it would be a huge validation of the Strategy model as a Bitcoin treasury company. It would also strengthen the investment case for the other Digital Asset Treasury (DAT) companies.
Congratulations to Michael and the entire team. Well done.