Bitcoin’s New Debt Machine is Facing Its First Major Test
Bitcoin-backed preferred shares STRC and SATA faced their first major stress test in June 2026 when prices fell below par, triggering leveraged selloffs. Both recovered quickly without dividend defaults, reassuring investors. Strategy and Strive's "digital credit" model—where companies issue shares to fund Bitcoin purchases—showed resilience despite volatility, with combined June trading topping $10 billion monthly records.
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