I do love Adam. He makes it sound SO exciting. This isn’t much different than STRF … slightly different investor base. Slightly better deal for MSTR. Adam focuses on the MSTR holder and it sounds so good, why would anyone be on the other side (buy STRC)? It’s all about credit ratings. So far, the ‘established’ rating agencies don’t get it and won’t rate it. To them, MSTR is ‘off the charts’ high risk … so MSTR must pay high dividends to get in investors to buy (STRF @ 10% coupon when a fairly rated MSTR should be @, let’s say, 6%.) Investors ‘in the know’ realize that, as the market understands the rating / coupon is too high, price will go up (hence $119) to compensate. Some investors would prefer to not have to deal - just pay me fair market - if MSTR credit quality goes up, they get less. If MSTR gets riskier, they get more. Fair. They don’t have to do anything. This is not a ‘hoax’. It’s MSTR betting (knowing) that their credit quality will get better and making it a win/win. Their payments go down. Investors get fair and are protected. Meeting the market where it is. Brilliant.