Bitcoin24h $88,831.55-0.63%

Ethereum24h $2,939.55-0.54%

BNB24h $879.45-1.27%

XRP24h $1.90-1.11%

Solana24h $126.81-0.17%

TRON24h $0.2979+0.99%

Dogecoin24h $0.1231-0.98%

Cardano24h $0.3563-0.87%

Bitcoin Cash24h $586.35-1.78%

Monero24h $483.30-7.13%

Strategy market cap down 40% after pivot from bonds to preferreds

Strategy preferreds were supposed to fix the problems with bonds, such as principal repayment, but instead they brought a raft of new issues.

Strategy manager wrong about BTC backing STRC

The manager mistakenly claimed that Strategy’s BTC collateralizes shares of its stock, even though it doesn’t.

Michael Saylor has a new definition of digital money, and it is not BTC. Conveniently, it’s also a sales pitch for STRC.

Strategy bought a lot of BTC last week, but shareholders still have less per share now than a couple of months ago.

The colloquial metric of investor confidence in Strategy, its multiple-to-Net Asset Value or mNAV, has fallen to 1x its BTC holdings.