Michael Saylor’s Strategy (MSTR) has never been a simple Bitcoin (BTCUSD) proxy. Over the years, the company has turned itself into something closer to a Bitcoin-powered financing machine, constantly rolling out new securities designed to raise fresh capital while giving investors different ways to bet on its long-term crypto strategy. One of its newest offerings, the Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), was introduced as an income-focused security, promising investors a floating dividend while helping Strategy fund even more Bitcoin purchases.
But that strategy is suddenly being put to the test.
