Strategy May Be Forced to Sell $4 Billion in Bitcoin to Support STRC Preferred Stock

Arca CIO Jeff Dorman warns that Strategy (MSTR) may need to sell $3-4 billion in Bitcoin or common stock to restore confidence in its STRC preferred shares, which have fallen to $82.53, well below the $100 par value.

• STRC preferred stock dropped to $82.53 on June 18, far below its $100 par value
• Arca CIO Jeff Dorman sees a 70% chance Strategy sells small MSTR shares monthly, and 25% chance it sells $3-4 billion in Bitcoin
• A 'nuclear option' (5% probability) would eliminate preferred dividend payments entirely
• Dorman says MSTR stock should trade at a discount to NAV and 'is still going a lot lower'
• Peter Schiff separately warned of potential investor lawsuits against Michael Saylor over STRC losses

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Last updated 19 Jun 2026