DiscusFish|Jun 23, 2026 06:31
STRC drops below $83, hitting a new all-time low since listing.
Flywheel logic: Bitcoin rises → MSTR premium (mNAV > 1) → Stock issuance for fundraising → Buy more Bitcoin
As long as STRC price ≥ $99, the ATM issuance channel remains open, allowing Strategy to continue low-cost fundraising to buy more Bitcoin.
Risk: Flywheel reversal, mNAV shrinks toward 1x, ATM interest payments, the entire structure gets thinner and thinner. Once mNAV drops below 1, the only options left are selling Bitcoin to pay interest or suspending interest payments.
Do you see this as an opportunity or a risk?
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