Strategy’s STRC Preferred Stock Hits Record Low, Closing at $88.59

Strategy’s STRC preferred stock fell to a record low on Thursday, closing at $88.59 after touching an intraday low of $82.5, weakening a key funding channel for Bitcoin (BTC) purchases. According to BeInCrypto, the perpetual preferred is designed to trade near its $100 par value and pays an 11.5% annual dividend rate for June, unchanged for a fourth straight month. The drop has renewed concern Strategy could sell Bitcoin to fund dividends; the firm holds about 846,842 BTC. Commentators including Bull Theory said restoring the peg may require a higher dividend, while CEO Phong Le has said BTC could be sold if preferable to issuing equity to pay dividends.