🚨 MicroStrategy's STRC perpetual preferred stock has depegged to $𝟳𝟲.𝟮, trading ~25% below its $100 par value. STRC pays an 11.5% dividend, costing Strategy $𝟭.𝟮𝗕/𝘆𝗲𝗮𝗿 across 104.89M shares. 𝗛𝘂𝗽𝘇𝘆 𝘁𝗮𝗸𝗲: STRC's depeg is a meaningful signal for MicroStrategy's capital structure health. While not a LUNA-style death spiral (dividends are discretionary, not mandatory), a 25% discount to par reflects market doubt about Strategy's ability to sustain payments or raise future capital. If MSTR investors perceive their capital is only funding earlier shareholders, future MSTR demand could weaken — and MSTR is a major BTC buyer. For BTC traders, a weakened MSTR bid removes a structural support pillar during a crash. Track Strategy: https://arkm.com/explorer/entity/microstrategy source: arkham Track real-time signals & trade → https://hupzy.com/trending?utm_source=x&utm_medium=social&utm_campaign=agent_x_post&utm_content=948(Hupzy (Spot On Chain))