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Strategy, the company that has staked its corporate identity on accumulating Bitcoin ($BTC), is facing fresh pressure in its own capital-markets suite: STRC, a security the firm has issued to help fund its Bitcoin strategy, has fallen to an all-time low, according to reporting by Decrypt.
The record drop puts a spotlight on the gap between the appeal of owning Bitcoin and the risks attached to owning the paper a Bitcoin-focused company issues to finance that ownership.
What STRC Is, and Why the Distinction Matters Strategy — long known as a Bitcoin giant for the scale of its $BTC holdings — has issued a range of capital-markets instruments beyond its common shares, and STRC is one of them.
These instruments are not Bitcoin.
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