“It appears traders are seeing the latest BTC acquisition as an unsustainable path for STRC,” said 10x Research’s Markus Thielen.
Strategy’s perpetual preferred stock STRC fell near record lows on Tuesday as investors seemingly balked at the company’s latest Bitcoin acquisitions.
Michael Saylor’s variable-rate perpetual “Stretch” Bitcoin yield product declined by 3.58% to $91.79 on Tuesday, 8.2% below its target value of $100. Markus Thielen, CEO of 10x Research, said the dip is linked to Strategy’s recent Bitcoin buying.
“The market would rather see MicroStrategy [Strategy] not acquiring more BTC and rather keep the cash for dividend payments,” Thielen told Cointelegraph. “It appears traders are seeing the latest BTC acquisition as an unsustainable path for STRC.”
