クリプトドットイン

暗号に強い人材のためのオルタナティブ・リンクトイン

STRC Falls 5% Below Par: Normal Preferred Behavior or Warning Sign?

-

によって

クリプトドットイン
で

Strategy’s preferred stock STRC closed Wednesday at $94.65, about 5% below its $100 par value, touching off a wave of alarm on social media.

While some critics have aired concern about the sustainability of the structure that has helped fund Strategy’s Bitcoin buying spree, a few supporters argue that STRC’s move down is normal for preferred securities.

STRC Is Acting Like a Preferred Stock

One of those pushing back against the panic was crypto commentator Scott Melker, known as The Wolf of All Streets to his 1 million followers on X.

“A 5% discount to par is not evidence that something is broken,” he wrote in a June 4 social post. “It’s evidence that investors are demanding higher yield, pricing risk, or reacting to market conditions – exactly what preferred stocks do.”

The mechanics here matter. STRC launched in July 2025 at a $100 par value, not a price floor, and according to the analyst, that par figure determines how liquidation preference and certain redemption provisions work, but it does not obligate the stock to trade there.

He pointed out that many preferred stocks often spend long periods below their stated par, and STRC’s monthly dividend adjustment was designed to pull the price back to $100 by raising the yield when demand softens. As of today, Strategy’s data shows STRC trading at $94.65 with an effective yield of 12.15%, which is higher than its current dividend of 11.50%. The larger market yield is a direct result of the lower share price.

That dynamic became a focal point of the debate, with Bitcoin author Adam Livingston arguing that the market is simply pricing risk at a 12.5% yield.

The Risk Underneath the Yield

Despite Melker’s assurances, the concern gaining traction goes beyond bond math. Strategy’s total preferred dividend obligations are close to $1.7 billion per year, and, as Bitcoin critic Peter Schiff previously pointed out, its software business does not come close to covering that figure.

Recall that the payments largely depend on the company’s ability to keep issuing new STRC shares, which, as several observers noted in the comments section of Melker’s X post, can become more difficult if the shares continue to trade below par.

Schiff, who called STRC a Ponzi scheme back in April, argued that the lower STRC trades, the more Strategy will have to raise the official dividend to stabilize it, and that would see it burning through cash faster and pulling forward any eventual Bitcoin sales.

Last month, crypto media personality Ran Neuner made a similar point, stating that if STRC doesn’t recover to $100, Strategy can’t issue more shares at par, which would then limit its ability to raise cash. As a result, the market would then start pricing STRC below par more permanently. This would force further yield increases to attract buyers, which would in turn require more cash, potentially including BTC sales, to fund those payments.

ポスト STRC Falls 5% Below Par: Normal Preferred Behavior or Warning Sign? に初登場した。 クリプトポテト.

コメント

コメントを残す

メールアドレスが公開されることはありません。 ※ が付いている欄は必須項目です

最新フィード

人気カテゴリー

ja 日本語
ja 日本語 en_US English ro_RO Română et Eesti ko_KR 한국어 ru_RU Русский de_DE Deutsch es_ES Español zh_CN 简体中文 fr_FR Français zh_TW 繁體中文 pt_PT Português it_IT Italiano pl_PL Polski tr_TR Türkçe nl_NL Nederlands id_ID Bahasa Indonesia el Ελληνικά uk Українська bg_BG Български cs_CZ Čeština fi Suomi hu_HU Magyar lv Latviešu valoda lt_LT Lietuvių kalba nb_NO Norsk bokmål sk_SK Slovenčina sl_SI Slovenščina sv_SE Svenska

ウェブサイトを検索

人気記事

タグ

#AlexeyPertsev (1) #Bidenクリプトバン (1) #Biden選挙 (1) #BinanceVsCoinbase (1) #ビットコイン (444) #BitcoinETF (3) #ビットコイン基礎知識 (1) #ビットコインの取り扱い (1) #Bビットコイン価格 (5) #BitcoinPriceLevel (1) #BitcoinPump (1) #BitcoinReserve (1) #ビットコイン・サージ (1) #Bitcoinトップ (1) #Bitfinex (1) #ビットワイズ (1) #BracebridgeCapital (1) #BRC20トークン (1) #BTC取得 (1) #Bullish予測 (1) #Bullishセンチメント (1) #中国鉱業 (1) #CPプレビュー (1) #CryptoAsset (2) #CryptoBattle (1) #CryptoBoom (1) #CryptoExpert (1) #CryptoInsights (1) #クリプトマニア (1) #CryptoMarket (4) #CryptoPrediction (1) #Crypto予測 (1) 1TP5トリプトレギュレーション (2) #CryptoTakeoff (1) #CryptoTiming (1) #CryptoTips (1) #CryptoTreasury (1) #CryptoUncertainty（暗号の不確実性 (1) #Dデリバティブジャンプ (1) #Dogecoin (74) #Dogecoinゲイン (1) #Dogecoinボリューム (1) #ダッチコート (2) #ECコマース (1) #ElSalvadorビットコイン (1) #Ethereum (72) #EthereumPain (1) #EthereumPrice (1) 1TP5専門家の意見 (1) #Fedレートカット (1) #FiatCurrency (1) #フィナンシャル・インパクト (1) #フィナンシャル・プライバシー (1) #Firmシャットダウン (1) #F凍結アカウント (1) 1TP5自己資金 (1) #InflationData (1) 1TP5投資 (1) 1TP5投資損失 (1) #日本ファーム (1) #法的措置 (1) 1TP5法的影響 (1) #法律 (1) #LightningNetwork (1) #市場分析 (3) #Mマーケットモニタリング (1) #M市場予測 (1) #市場予測 (1) #M市場予測 (1) #Mマーケットサポート (1) #マーケットボラティリティ (1) #マリッジ (1) #MemeCoin (5) #Memeコイン (2) #Miner収益性 (1) #マネーロンダリング (2) #MtGox (4) #北朝鮮暗号 (1) #ノボグラッツ予想 (1) #Priceマイルストーン (1) #P価格予測 (2) #Price質問 (1) #プライスサージ (1) #Prisonセンテンス (1) #QuantAnalysis (1) 1TP5規制圧力 (1) #SECアンチクリプト (1) #ShibaInu (6) #SocialBuzz (1) #技術分析 (1) #トンコイン (3) #トルネードキャッシュ (3) #TornadoCashDev (1) #TornadoCashデベロッパー (1) #UKクリプト (1) #Upsideポテンシャル (1) #USCongress（米国議会 (1) #ワイオミングランド (1) #XRP価格 (1) #XRPupswing (1)

お役立ちリンク

私が役に立ち、共有したいと思ったリンク