Strategy Shares Fall to 4-Month Low as STRC Dips and Bitcoin Sinks Under $60K
Strategy was hit hard by the crypto pullback on Friday: its shares fell to a four-month low before closing down nearly 7%, while Bitcoin briefly dropped below $60,000 and reached its lowest level since 2024. The pressure came soon after Strategy disclosed its first Bitcoin sale since 2022, a small 32-BTC sale meant to show it could trim holdings to support preferred-stock dividends if needed. Its Stretch preferred stock (STRC), which pays an 11.5% monthly dividend and is meant to trade near $100, fell 3.6% to $93, adding pressure because Strategy uses STRC to raise money for more Bitcoin. Analysts said the move was not a major concern and that STRC’s rate-reset mechanism is designed to pull the price back toward par. Strategy’s Bitcoin holdings remain massive at about $50.4 billion, but Friday’s price drop left them roughly $13.7 billion underwater.
