Strategy's Preferred Stock STRC Hits All-Time Low of $82.53 on Thursday

BTC-4.40%
Strategy's preferred stock (STRC) hit an all-time low of $82.53 on Thursday, before recovering slightly to $87.45 by afternoon according to Yahoo Finance. CoinShares head of research James Butterfill attributed the weakness to uncertainty around how Strategy will manage its growing fixed obligations, noting that Bitcoin gains alone do not automatically increase available cash. Benchmark-StoneX analyst Mark Palmer expects Strategy to raise STRC's dividend rate in early July to support the price back toward its $100 par value.
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