Strategy (MSRT) preferred stock STRC hits new low on BTC strategy fears

Strategy's (MSRT) perpetual preferred stock, STRC, has fallen to an all-time low, Cointelegraph reported. The decline is said to reflect investor concerns over the company's recent Bitcoin purchases. According to the outlet, STRC fell 3.58% on June 16 to $91.79, a level 8.2% below its target price of $100. Markus Thielen, CEO of 10x Research, explained that the drop is related to Strategy's recent BTC acquisitions. He added that the market seems to prefer the company use its cash for dividend payments rather than buying more Bitcoin, noting that traders appear to view the recent purchases as an unsustainable strategy.