Michael Saylor's Strategy sold no STRC preferred stock last week, despite the security touching $100 intraday on November 4. The company funded both its Bitcoin purchases and STRC buybacks by selling MSTR common shares rather than issuing new preferred equity. The absence of STRC issuance signals a shift in capital allocation strategy, with the firm relying entirely on common stock sales to finance its Bitcoin accumulation and preferred share repurchases during the period.