Here is why Strategy's dividend-paying crypto stock is crashing to near-historic lows

60-second summary

Strategy's bitcoin-backed preferred stock is plummeting to near-historic lows, trading significantly below its par value of $1,000. Concerns over dividend coverage and increased competition from Strive's SATA are driving the decline. As investors lose confidence, the stock's value continues to erode, highlighting the challenges faced by dividend-paying crypto stocks in a highly competitive market.