Strategy's STRC Preferred Stock Plunges to $82.53 on June 18, Signaling Leverage Risks in Bitcoin-Linked Credit Products

BTC-0.04%
According to Nasdaq, Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock (ticker STRC) traded sharply below its $100 reference level on June 18, hitting an intraday low of $82.53 before closing at $88.59. Strive CEO Matt Cole characterized the decline as a leverage flush driven by forced selling rather than a fundamental default event. The selloff underscores how quickly leverage can amplify stress in products tied to Bitcoin treasury strategies, even when the issuer's reserves remain intact.
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