Strategy Founder: STRC is a product I designed with AI; I couldn't do it myself.

As the core tool of MicroStrategy's Bitcoin financing flywheel, STRC was originally designed as a low-volatility fixed-income product anchored at a face value of $100. The current price has fallen to $88.8, indicating that the market's concerns about its creditworthiness and dividend payment ability are being priced in.
Saylor at this moment emphasizes that STRC was designed by AI and attributes the product's originality to AI, which is a narrative move to shift focus during the de-anchoring crisis and frame the product's risk structure issue as a technological innovation. Its core intention is to reinforce STRC's irreplaceability as a "financial innovation" to stabilize retail holders (accounting for 80%).
The most noteworthy detail is that Saylor quoted AI as saying this design "has never been done in world history." This precisely exposes the risk nature of STRC's lack of historical reference — it is not a mature financial engineering but an experimental financing tool rapidly created in a bull market, relying on Bitcoin's upward expectation to sustain itself. When the market begins to question its underlying asset coverage, no matter how sophisticated the AI design, its structural fragility cannot be concealed.
On June 19, Strategy (MicroStrategy) Michael Saylor stated in an interview with Coindesk that the company's issued "Stretch" variable-rate perpetual preferred stock STRC is a product made 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, I discussed with AI for several hours, just like the others, learning how to design these different things, arguing with it, asking "Can I do this?" "Can I do that?" At some point, I said, "I want a monthly interest-paying preferred product, and I want it to stay stable at 100." It then said, "You can do this, this, and this." I asked, "Has anyone done this before?" Then it scanned for ten minutes and told me, "No one has ever done this in world history, but it is completely legal and entirely feasible."
Recently, the de-anchoring of STRC has continued to attract community attention, and the stock plummeted to a low of $82.7 early this morning, closing at $88.8. $STRK