Saylor May Have to Sell More BTC, MSTR as STRC Lags Target
Strategy co-founder Michael Saylor may have to sell significantly more Bitcoin (BTC) and MSTR shares, according to Peter Schiff. Despite previous sales of BTC and MSTR common stock, Strategy's STRC preferred stock is still trading below $95.
Schiff claims that Saylor will need to sell a lot more BTC and discounted common stock to raise the price of STRC to its target of $100. This could be bad news for investors in BTC and MSTR, as Schiff recommends selling both assets.
The company has been attempting to push STRC back toward its $100 target by buying it back with proceeds from BTC sales. However, this strategy has come at the expense of MSTR common shareholders and Bitcoin exposure, according to Schiff.
Since July's earnings call, Saylor has emphasized Strategy's focus on making STRC more liquid and stable, describing it as a core part of the company's 'digital credit' strategy.