Strategy preferred shares STRC experience a severe depeg, company claims "selling tokens can pay dividends for 32 years" in an attempt to stabilize the market
BlockBeats news, on June 18, according to Bitget market data, the "Stretch" variable-rate perpetual preferred share STRC issued by Strategy (MicroStrategy) has severely depegged, setting a new recent low, with a closing price of $88.9.
Reportedly, STRC is a preferred share used by Strategy to raise funds in the market to buy Bitcoin. Its nominal value is roughly pegged at $100, and it pays a relatively high dividend. The dividend rate is adjusted according to price movements, with the goal of keeping trading as close to nominal value as possible. The sharp depeg of STRC indicates the market is demanding a higher yield and also shows declining investor confidence in its credit/dividend stability. Strategy has previously relied heavily on issuing STRC to raise funds for buying Bitcoin; if the STRC price falls below nominal value, issuing new STRC becomes uneconomical for the company, equivalent to borrowing at a higher cost. Therefore, its "ability to continue buying coins" will be weakened.
In response, Strategy posted data on social media, claiming: "The company's Bitcoin reserves are sufficient to cover 32 years of dividends" in an attempt to stabilize the market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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