A hot-and-cold piece of knowledge STRC depegged to $94.65, and some people started spreading rumors about bankruptcy—clearly, they don’t understand how the mechanism works. STRC is a preferred stock, collateralized by the Strategy balance sheet. This means in the event of bankruptcy, it gets priority repayment. The company holds 843,706 BTC + $900 million in cash, with each $1 of preferred stock backed by approximately $3.1 in excess collateral. Selling BTC will also earn you interest—honestly, they’ve already laid it all out clearly.