STRC plunged overnight, hitting a low of $82.7 before recovering to close at $88.8.

BlockBeats News, June 19th, according to Bitget market data, the price of the "Stretch" variable-rate perpetual preferred stock STRC issued by Strategy plummeted to a recent low overnight, hitting a low of $82.7 and closing at $88.8 today.

It is reported that STRC is a preferred stock issued by Strategy to the market to finance the purchase of Bitcoin, with a face value roughly pegged to $100, offering a high dividend. The dividend rate will adjust based on the price situation, aiming to keep the trading price as close to the face value as possible. The significant de-pegging of STRC indicates that the market is demanding a higher yield and also reflects a decrease in investor confidence in its creditworthiness/dividend stability. Strategy previously relied heavily on issuing STRC to finance the purchase of Bitcoin; if the STRC price is below face value, issuing new STRC is no longer cost-effective for the company, akin to borrowing money at a higher cost. Therefore, its "ability to continue buying coins" will be weakened.