Strategy's STRC preferred stock slipped below par value as BTC trades near $64K, sparking debate over Michael Saylor's BTC flywheel model and slowing the company's Bitcoin accumulation pace.

Analyst Pushback

Analysts note forced liquidation would require BTC to fall below $26K to breach preferred stock coverage, calling comparisons to UST/LUNA collapse significantly overstated.#MorganStanleyETHSOLETFFilings0.14%Fee