Strategy has unveiled a Bitcoin-based credit rating model. This model was developed to assess the credit risk and credit spread of convertible bonds and preferred shares (STRC) issued by Strategy. It utilizes proprietary indicators such as BTC Rating (Bitcoin Coverage Multiple), BTC Risk (Probability of Default), and BTC Credit (Credit Spread in bps), analyzing the creditworthiness of corporate bonds and preferred shares based on its BTC holdings, valued at approximately $52 billion. All evaluation indicators use Strategy's BTC holdings as a benchmark for collateral interest risk, incorporating Bitcoin price, volatility, and annualized return (ARR) as key variables.
