Bitcoin rout leads Strategy’s STRC to slide 26% below par as MSTR shares hits 16-month low
The Block·
60-second summary
Strategy's STRC preferred securities slide 26% below par as MSTR shares hit a 16-month low, a stark contrast to the past year's strategy of issuing and tapping preferred securities like STRC to raise capital for additional bitcoin purchases, now seemingly backfiring amidst the cryptocurrency's ongoing rout, weighing heavily on the company's valuation and investor confidence.
For the past year, Strategy has been issuing and tapping preferred securities like STRC to raise capital for additional bitcoin purchases.