Woofun AI reports that Strategy's latest Digital Asset Capital Framework has mitigated short-term liquidity constraints, though a disciplined Bitcoin trading protocol remains absent. Since the announcement, the firm sold 3,588 BTC for approximately $216 million and raised $4.667 billion through MSTR share sales, elevating US dollar reserves from $1.4 billion to roughly $3 billion. This capital influx extended the preferred stock dividend coverage period from 14 to 29 months, while total Bitcoin holdings remained static at 843,775 BTC.

CryptoQuant highlights two unresolved structural issues: the absence of a valuation-based model for resuming Bitcoin purchases, which risks repeating high-price accumulation patterns, and the lack of a long-term strategy for selling BTC during bull markets. The current framework permits sales to fund reserves, dividends, and buybacks but lacks defined rules for batch selling at cycle peaks or hedging risks. Establishing such discipline across market cycles is deemed essential for effective active capital management.