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Bitwise’s Matt Hougan said Strategy's STRC offer of high yields and low volatility was always a questionable fit for buying Bitcoin, as the cryptocurrency offers neither.
Bitwise said STRC's volatility reflects a late-cycle leverage unwind, with institutions poised to replace Strategy as bitcoin's biggest buyer.
Strategy outlined a new capital framework as bitcoin steadied after last week's sharp MSTR and STRC selloff.
Strategy’s dividend-paying STRC hit another all-time low today after losing one quarter of its value over the past 30 days alone. The post Strategy’s STRC hit another all-time low today appeared first on Protos.
Strategy’s flagship preferred stock tumbled again when U.S. markets opened, setting another record low as Bitcoin lingered below $60,000.
STRC traded as low as $73.62 on the Nasdaq today — 26.4% below the $100 price that the stock is meant to hold. The post STRC crashes as Strategy’s unrealized BTC losses exceed $13 billion appeared first on Protos.
The tightening correlation undermines STRC's appeal as a relatively steadier income vehicle.
For the past year, Strategy has been issuing and tapping preferred securities like STRC to raise capital for additional bitcoin purchases.
STRC was marketed as a low volatility income product designed to trade near $100, and its sharp decline has undermined investor trust.
A massive Micron earnings beat has lifted global markets, pushing crypto higher after yesterday's nasty sell off took BTC sub-$60k.
Strategy’s STRC is trading well below $100 with just one week to go until its dividend snapshot date, leaving Strategy with few options. The post Michael Saylor wants $100 STRC — the market says different appeared first on Protos.
