Strategy bought bonds, not Bitcoin, this week. The mechanics of why — and what "the BitVac is charging" actually means for the week ahead. Four words. That is all it took to move the institutional demand picture for Bitcoin this week. "Bought bonds, not bitcoin." Michael Saylor

Strategy's preferred-stock funding instrument has become the single most consequential mechanism in 2026's Bitcoin supply-demand balance. Here's why it's flashing yellow.