STRC Preferred Stock Drops to $82.53 Intraday Low, Testing Strategy Inc.'s Bitcoin-Backed Credit Model

Summary

STRC, Strategy Inc.'s variable-rate preferred stock designed to trade near $100, dropped to an intraday low of $82.53 before recovering to close at $88.59. The volatile session saw over 10 million shares traded, with the security falling 11-17% below its $100 par value. This tests the resilience of Michael Saylor's bitcoin-backed credit model, as STRC is a key instrument in Strategy's bitcoin treasury strategy.

Source

bskySTRC Preferred Stock Drops to $82.53 Intraday Low, Testing Strategy Inc.'s Bitcoin-Backed Credit Modelnews.bitcoin.com