Despite the puzzling timing with mNAV running low, MSTR just scooped up another 10,624 BTC. Here's what matters: this move actually pumped up the credit ratings across their preferred stock lineup. We're talking STRF, STRC, STRE, STRK, and STRD – all seeing improved credit quality metrics. The logic? More Bitcoin on the balance sheet means stronger asset backing for these instruments. Whether this accumulation strategy makes sense at current valuations is debatable, but the immediate impact on their structured products is undeniable. Holders of these preferreds are definitely breathing easier now.