An hawkish Federal Reserve is boosting the US dollar, bitcoin ETFs have seen persistent outflows, and Strategy, the largest publicly traded bitcoin holder, faces growing pressure.
Strategy’s preferred stock, STRC, has plummeted to record lows well below its $100 face value, complicating the company’s aggressive bitcoin accumulation strategy.
Arca CIO Jeff Dorman highlighted the precarious situation: “Either sell a huge amount of BTC and MSTR to help $STRC get back close to par, and at least buy some time, or continue to watch every part of your cap structure melt away due to the uncertainty you’ve created,” he said on X.
At the time of writing, BTC changed hands near $62,400, down 0.8% since midnight UTC, according to data from CoinDesk. Prices reached highs near $67,000 earlier this week.
