Analyst: Strategy's STRC Preferred Stock Is Nothing Like Terra's Collapsed Stablecoin

Benchmark-StoneX analyst Mark Palmer says comparing Strategy's STRC preferred stock to Terra's failed stablecoin is "fundamentally misguided" -- STRC is backed by Bitcoin holdings, not an algorithmic peg.

• STRC fell to $82.53 last week, sparking comparisons to Terra's 2022 collapse on social media
• Analyst Mark Palmer says STRC is not a stablecoin and cannot 'depeg' -- it's backed by Strategy's $54.5B Bitcoin holdings
• STRC trades around a $100 par value and offers an 11.5% annual dividend, unlike Terra's algorithmic mechanism
• Strategy now holds 847,363 Bitcoin and has been accumulating cash to support STRC's recovery toward par

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Last updated 23 Jun 2026