STRC has been below $90 for a month now.

I think Strategy needs to launch a new buyback program to bring STRC back to par ASAP.
This asset was not designed to be this volatile. Someone bought STRC at $90 a few days ago. Today it's $88. That is a 2% principal loss in under a week.
The dividend pays about $0.50 per share twice a month, or roughly 1.1% monthly on an $90 entry. The price action has already erased two months of dividends in a handful of days.
Yes, the effective yield at $88 is 13.64%. But yield is not real if the principal keeps repricing downward. Yield buyers need to believe the floor will hold.
And the market has not found a floor on its own. The 12%+ dividend mechanism is not pulling STRC back to par by itself.
This is why I am calling for the new buyback program. A credible buyback signals that the issuer will not let this trade permanently below par. It creates a floor. It gives new buyers a reason to believe their entry will not be immediately punished. And it restarts the flywheel. Once STRC trends back toward $97-100, ATM issuance becomes viable again and BTC accumulation resumes.
STRC needs to get another upgrade. I will be watching closely to see if Strategy steps up.