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A Simple Theory of Digital Credit: 1. Acquire a large pool of appreciating capital ($BTC). 2. Issue credit ($STRC) against that capital, overcollateralized by the equity base. 3. Monetize a portion of the appreciation—directly or via derivatives ($MSTR)—to fund the dividend. Credit investors exchange volatility, risk, duration, and performance with equity investors. Credit ($STRC) receives cash flow and stability. Equity ($MSTR) receives amplified performance and volatility.