Strategy Founder: STRC is a product I designed using AI; I couldn’t create it myself.

BlockBeats News, June 19 — Strategy (MicroStrategy) Michael Saylor said in an interview with Coindesk that the company’s issued “Stretch” variable-rate perpetual preferred stock STRC is a product he created using AI:

All of this was designed by AI. You know, I couldn’t do it myself. I really mean it—I used artificial intelligence and went back and forth with it for several hours, just like everyone else: learning how to design these different things, debating with it, asking, “Can I do this?” “Can I do that?” At some point, I said, “I want a product with monthly interest payments, and I want it to be stable at 100.” And it said, “You can do it like this, like this, and like this.” I asked, “Has anyone done this before?” Then it scanned for ten minutes and told me, “No one has ever done this in the history of the world—but it’s completely legal, and it’s entirely reasonable and workable.”

Recently, the ongoing STRC de-pegging incident has continued to draw community attention. The stock plunged to a low of $82.7 in the early hours of today, closing at $88.8.