The design of STRC looks familiar; in a bear market, if you can't play the dividend game, it's just the next spiral.

Ali Martinez warns that the STRC structure could exacerbate financial pressure during a Bitcoin bear market, similar to the feedback loop of the Terra-Luna collapse in 2022. The dividend yield of STRC can be adjusted to approach a $100 face value, but may need to increase dividends when Bitcoin declines to attract buyers. As scrutiny of the Strategy financing model intensifies, STRC fell to a low of $82.53 on June 18, then rebounded to $88.59. He stated that this structure could drive up financing costs when the value of major government bond assets declines.