QCP said the US-Iran MOU has eased energy disruption risks, but BTC remains capped below $66,000 amid concerns that Strategy may need to sell more Bitcoin to fund dividend payments.
Strategy has bought back $1.5 billion of its 2029 convertible senior notes, raised about $200 million through MSTR share sales, and continues to use the proceeds to buy BTC, extending its cash runway for dividend payments to around 7.5 months
QCP said this overhang may continue to limit BTC’s participation in broader macro optimism. — link