Bitcoin (BTC) plunges after STRC launch... Is Strategy (MSTR) okay like this?

▲ Strategy (MSTR), STRC, Bitcoin (BTC)/AI generated image

As the price of Bitcoin (BTC) has significantly declined since the launch of STRC, Strategy's Bitcoin acquisition structure has once again come under scrutiny. The debate is growing whether STRC, which has fallen below its $100 benchmark price, signals a crack in its funding engine.

According to cryptocurrency media outlet Cointelegraph on June 21 (local time), Bitcoin has fallen by about 50% since late July 2025, when Michael Saylor's Strategy launched STRC. STRC is a flagship product launched by Strategy to fund additional Bitcoin purchases.

STRC was designed to trade near its $100 benchmark price. However, it plunged to an all-time low of $82.53 during trading last Thursday, closing at $88.59. This is approximately 13% lower than the benchmark price.

Peter Schiff criticized STRC as a “classic centralized Ponzi.” He argued that Strategy must continue to raise funds through new stock sales or sell Bitcoin to meet its obligations. Cryptocurrency trader DonAlt also pointed out after STRC's sharp decline, “Why is it trading like a Ponzi?”

STRC's weakness also affected Strategy's Bitcoin acquisition pace. The company invested $101 million to buy 1,550 BTC in the week ending June 8, and an additional 1,587 BTC for $100 million in the week ending June 15. The total holdings increased to 846,842 BTC.

However, compared to the acquisition volume early this year, the pace has significantly slowed. Strategy bought 34,164 BTC for $2.54 billion in one week in April, and added 24,869 BTC for approximately $2.01 billion in May. In early June, it reportedly sold 32 BTC worth about $2.5 million to meet dividend obligations.

There are also counterarguments. Jesse Myers, Bitcoin Strategy Lead at The Smarter Web Company, said, “Strategy is fine.” He viewed the STRC plunge as closer to leverage liquidation rather than a deterioration of the company's fundamentals. The STRC dividend rate is 11.5% annually, and at the current price level, the effective yield increases to about 13%.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. This content should be interpreted for informational purposes only.*