Multicoin Capital co-founder Tushar Jain said STRC has not returned to its peg even though BTC has posted a sharp rise. He attributed the gap to STRC’s dividend level, which he said remains too low. Jain also pointed to the product’s past drawdown of about 30%, arguing that a vehicle marketed as fixed income needs to offer meaningfully higher yield if investors are expected to absorb that level of downside. His comments frame the repeg issue as a compensation problem: without stronger income, the product does not offer enough return to match the risk it has already shown it can carry.
According to ChainCatcher, Multicoin Capital co-founder Tushar Jain said STRC still has not repegged despite a sharp rise in BTC.
Jain said the reason is that STRC’s dividend level is too low. He added that STRC had been marketed as a fixed-income product, yet it went through a drawdown of about 30%. If investors are expected to take on that degree of drawdown risk, he said, the yield on STRC must rise meaningfully to provide enough compensation for that risk.
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