Strive VP: MicroStrategy's BTC thesis at risk if STRC dividends fail

Joe Burnett, a vice president at the Nasdaq-listed Bitcoin strategy firm Strive (Nasdaq: ASST), pointed out on X that MicroStrategy's (Nasdaq: MSTR) investment thesis for Bitcoin could be significantly undermined if the company fails to pay dividends on its STRC preferred stock. STRC is a preferred stock issued by MicroStrategy, and concerns have recently been raised in the market regarding the company's ability to fund the dividends and the sustainability of its capital structure. Separately, Jiang Zhuoer, founder of the Chinese Bitcoin mining pool BTC.TOP, interpreted a statement from MicroStrategy that it can pay 32 years of dividends with its Bitcoin holdings as a message that the market should not be surprised if the company sells BTC in the future to cover dividend payments.