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Strategy’s Michael Saylor Pounds Away at “Bad Idea” BIP-110
Strategy executive chairman MIchael Saylor took to social media over the weekend to oppose BIP-110, posting 110 reasons why the proposal is a “bad idea”.
A look at how falling Bitcoin prices, capital structure changes pushed STRC below $83 in just five weeks.
From a bond buyback and dwindling cash reserves to a bitcoin bear market, the sequence of events that turned STRC's par-value challenge into a marketwide debate.
MTSR news: Strategy's STRC preferred stock drops to a record low $89
The slide has paused the above-par share sales Strategy uses to fund bitcoin purchases, and it is the same stock whose dividends forced the company's first BTC sale this month.
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Strategy's investors are may be rotating out of its preferred stock for another crypto rival
Strategy's bitcoin-backed preferred stock remains well below par value as concerns over dividend coverage and stronger competition from Strive's SATA.
Live BTC price: Bitcoin drops under $63,000 as Strategy adds $100 million BTC
Meanwhile, Strive bought 32 bitcoin, the same number Strategy dumped last week.
