Grease and flour (or spray with nonstick baking spray) a 10-inch tube pan. Adjust oven rack to the middle position and preheat oven to 350°F.
In the bowl of a stand mixer fitted with the paddle attachment, cream the butter and sugar together on high speed until pale yellow and light and fluffy, about 3-4 minutes. Add eggs, one at a time, beating well after each addition. Add the vanilla and almond extracts and beat until incorporated.
1 cup unsalted butter, 2 cups granulated sugar, 4 large eggs, 1½ teaspoons pure vanilla extract, ½ teaspoon almond extract
In a separate large bowl, whisk the flour, baking powder, baking soda, and salt together. Add the flour mixture and the buttermilk alternately to the creamed mixture, beginning and ending with the flour mixture. Beat well after each addition.
3 cups all-purpose flour, 1 teaspoon baking powder, ½ teaspoon baking soda, 1 teaspoon kosher salt, 1 cup buttermilk
Bake at 350°F for 55-75 minutes, or until a toothpick inserted in the center comes out clean. Transfer the cake to a cooling rack set over waxed paper or parchment paper and allow it to cool for 15 minutes in the pan.
Run a knife around the inside edge and around the edge in the center of the tube. Carefully remove the cake from the pan and set it upright onto the wire rack to cool further.
While the cake cools, make the butter sauce: In a small saucepan set over medium heat, combine the sugar, salt, butter, and water. Whisk until butter is melted and the sugar and salt are dissolved. Remove from the heat and whisk in almond and vanilla extracts.
1 cup granulated sugar, ¼ teaspoon kosher salt, ½ cup unsalted butter, ¼ cup water, ½ teaspoon almond extract, 2 teaspoons vanilla extract
Make the strawberries and cream: Add the heavy cream, powdered sugar, and flavoring to a stand mixer bowl. Whisk until stiff peaks form and transfer to a medium bowl. Fold in the chopped strawberries and keep refrigerated until ready to serve.
1 pint heavy cream, 2 tablespoons powdered sugar, ½ teaspoon pure vanilla extract, 1 pint fresh strawberries
Poke holes in the warm cake and evenly spoon ¼ cup Butter Sauce over cake, let stand 5 minutes. Repeat the procedure twice more and brush any remaining sauce over the sides of the cake. Cool completely and serve with a large spoonful of Strawberries & Cream.