Benchmark Defends Strategy STRC Model After $3.5B Helped Fund 51,364 BTC Buys

Benchmark analyst Mark Palmer defended Strategy’s STRC funding model after the company raised about $3.5 billion in the first three weeks of April, with more than 85% coming from the preferred shares. SEC 8-K filings show Strategy used the proceeds for three weekly Bitcoin purchases totaling 51,364 BTC, while Grayscale’s Zach Pandl said spot Bitcoin ETFs remain a cleaner way to gain exposure.

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