CryptoSlate reports ongoing buyback costs as the yield product trades below target.
The CryptoSlate post states Strategy spent $635.2M to support STRC near $100, but the token trades near $97 with $364.8M left in buyback funds. It raises whether investors will back STRC at par without Strategy's purchases by Sept. 8. The linked article says Saylor has seven days to finish the rescue of the $10 billion Bitcoin yield product before the market tests its survival on its own as costs spiral.
1.2K
1 post, first seen 4d ago
CryptoSlate reports ongoing buyback costs as the yield product trades below target.
The CryptoSlate post states Strategy spent $635.2M to support STRC near $100, but the token trades near $97 with $364.8M left in buyback funds. It raises whether investors will back STRC at par without Strategy's purchases by Sept. 8. The linked article says Saylor has seven days to finish the rescue of the $10 billion Bitcoin yield product before the market tests its survival on its own as costs spiral.
CryptoSlate@CryptoSlateStrategy has spent $635.2M trying to pull STRC back to $100, but it still trades near $97. Only $364.8M remains under the buyback authorization. By Sept. 8, the bigger question is whether investors will support STRC at par without Strategy doing the buying.
CryptoSlate@CryptoSlateStrategy has spent $635.2M trying to pull STRC back to $100, but it still trades near $97. Only $364.8M remains under the buyback authorization. By Sept. 8, the bigger question is whether investors will support STRC at par without Strategy doing the buying.
