Is Strategy's Bitcoin Machine Breaking Down?
Strategy's structure runs on Bitcoin, MSTR common stock, and STRC preferred, and right now all three are weakening at once.
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Strategy's structure runs on Bitcoin, MSTR common stock, and STRC preferred, and right now all three are weakening at once.
The break below $100 puts MSTR at a discount to its roughly $50 billion in Bitcoin and shifts the question from how much more Bitcoin Strategy can buy to which slice of its capital stack — the common stock, the preferreds, the debt or the coins themselves — is still worth owning, according to