Strategy’s USD Cash down 60% in seven weeks
Strategy’s USD Cash pile has plummeted 60% from $1.61B in late August to just $640.5M a few days ago.
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Strategy’s USD Cash pile has plummeted 60% from $1.61B in late August to just $640.5M a few days ago.
Read more (3 min) →It’s been four months since Strategy’s STRC broke parity and its execs made getting it back to its $100 peg their number one priority.
Strategy’s STRC, which pays twice-monthly dividends on $100/share of par value, fell from parity on May 15 and hasn't returned.
It has been a year since Michael Saylor’s Strategy launched STRC, and the price of MSTR has declined 75% since it started trading.
Strive told shareholders that it was choosing to hold STRC instead of idle cash, a swap that has cost shareholders millions of dollars.
— Michael Saylor, MicroStrategy
Michael Saylor keeps raising cash for STRC holders who've watched him shift his promises, so the discount below par is persisting.
The effective yield of STRC is 14% with a 28% total return on offer, yet it still cannot hold the $100 par value that Strategy intends.
After predicting a rally that didn’t arrive, Michael Saylor waited for a 52% drawdown and sold at a loss to Strategy’s BTC cost basis.
With the price of BTC and Strategy crashing, Michael Saylor grew frustrated with another reporter’s questions, ending the interview cold.
A new audit of Michael Saylor’s posts charts the moment BTC's loudest evangelist switched his focus to credit.