Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
CFD
U.S. stock CFD derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Launch
CandyDrop
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Promotions
AI
Gate AI
Your all-in-one conversational AI partner
Gate AI Bot
Use Gate AI directly in your social App
GateClaw
Gate Blue Lobster, ready to go
Gate for AI Agent
AI infrastructure, Gate MCP, Skills, and CLI
Gate Skills Hub
10K+ Skills
From office tasks to trading, the all-in-one skill hub makes AI even more useful.
MicroStrategy's recent moves have left me speechless. When Bitcoin drops, they don't aggressively buy the dip; when it rises, they start to hold back. This kind of "weakness" directly destroys confidence in the secondary market.
The most immediate victim is $STRC . As a preferred stock, it now looks like an abandoned pawn, with its price falling all the way to 89 yuan. What does a 11% discount mean? It means the market has already implicitly recognized serious credit issues with MicroStrategy.
But let's think from a different perspective: what is MicroStrategy's core asset? It's those hundreds of thousands of Bitcoin. As long as these coins are still there, MicroStrategy is still valuable. Currently, $STRC is like a leveraged contract with a safety cushion. The cash flow of 11.5 yuan per share is real, and as long as the company hasn't entered bankruptcy proceedings, they have to pay it.
So what are people afraid of now? The "spiral effect." Fear that Bitcoin's price drops -> the company sells coins to protect itself -> credit collapses -> preferred stock loses its peg.
But this kind of panic actually presents some buying opportunities. The current yield on $STRC is as high as 25%. If you believe MicroStrategy can hold on this time, then the price of 89 yuan is basically a gift. 🫠