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Falling from 100 to 85.72, this discount rate shows that institutions are not fools either — BTC buying activity has been halted for three weeks, and the liquidity story can no longer be sustained.
STRC, the preferred share it sells at $100 to fund coin purchases, has fallen to a record $85.72.
Below that level the issuance stops, and no STRC-funded buy has happened since 26 May.
$BTC