Cointelegraph reported in a market analysis that Bitcoin’s price has fallen by more than 40% since STRC was launched. At the same time, STRC has slipped below par, giving critics more room to challenge Strategy’s Bitcoin-centered approach and placing renewed attention on Michael Saylor’s so-called BTC flywheel.
The report says STRC’s decline has coincided with a slowdown in Strategy’s Bitcoin purchases. That combination has intensified debate over whether the company’s mechanism for continuing to add BTC through its capital structure is still functioning as intended. Michael Saylor remains closely associated with Strategy’s Bitcoin strategy, and the pressure on STRC has brought the durability of that framework back into discussion.
The issue highlighted by Cointelegraph is not only Bitcoin’s price decline. It is the overlap of three developments: Bitcoin is down more than 40% since STRC launched, STRC has moved below par, and Strategy’s pace of Bitcoin buying has slowed. The article frames the debate around whether Strategy is still “fine” as questions grow around the BTC flywheel tied to Saylor’s strategy.