Strategy's STRC Preferred Stock Hits Record Low as Bitcoin Sits Below $60K

Strategy's preferred stock STRC fell to a record low of $71.25, 25% below its $100 par value, as Bitcoin lingered under $60K. Michael Saylor acknowledged the 'volatility test' while analysts warn the company needs more cash to cover dividend obligations.

• STRC fell to $71.25, a new all-time low and 25% below its engineered $100 par value.
• Strategy's Bitcoin stockpile of 847,363 BTC is $13.1 billion underwater at current prices.
• Michael Saylor said 'volatility tests every capital structure' but defended the company's strategy.
• Analysts warn Strategy's cash cushion has worn thin after issuing $10 billion in STRC in under a year.
• MSTR shares fell as low as $82.33 before recovering slightly to $85.80.

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