STRC's ongoing de-pegging has been heavily criticized by KOLs, and it is expected that Saylor will sell more coins again to push STRC back to its face value.

BlockBeats News, June 18 — After opening today, STRC continued to fall, and is currently trading at $85.9, with a single-day decline of 3.44%. In response, overseas KOLs have raised questions about it, noting that the product was heavily promoted as a safe investment suitable for families, better than high-yield savings accounts and with almost no volatility.

Arete Capital partner McKenna further analyzed that the market is waiting for the typical end-of-summer choppy, volatile conditions and Michael Saylor’s sell-off of Bitcoin. He also predicts that when Saylor ultimately sells part of his Bitcoin, it will drive STRC back toward par value, at which point the market will return to natural buying.

It is understood that STRC is a preferred stock used by Strategy to finance the purchase of Bitcoin in the market. Its par value is roughly pegged to $100, and it pays a higher dividend. The dividend rate will be adjusted according to the price conditions, with the goal of keeping it trading as close to par as possible. STRC’s significant de-pegging indicates that the market requires a higher yield, and also suggests that investors’ confidence in its credit and dividend stability has declined. Strategy previously relied heavily on issuing STRC to finance Bitcoin purchases. If the STRC price falls below par value, issuing new STRC is no longer worthwhile for the company—essentially borrowing at a higher cost. Therefore, its “continued ability to buy coins” will be weakened.