STRC, SATA and the onset of digital credit

He just declared that Strategy is a public company, not a Btc wallet.
How healthy this company is then?
An easy way to evaluate a company is looking at its cash flow. Operating cash flow per share for the trailing twelve months to March 2026 was −$0.17. A company with a negative cash flow is a zombie.
STRC coupon is funded by selling paper and selling the collateral. There is no other source.
The sooner Strategy dies the better for Bitcoin it will be.