Bitcoin fell as much as 3.3% to US$62,229 on June 18 as concerns over Strategy Inc’s funding model and higher interest-rate expectations hurt demand for riskier assets.

Strategy, which rebranded from MicroStrategy in 2025, said it was the largest Bitcoin treasury company and held 818,334 BTC as of May 2026.

Investors have focused on STRC, Strategy’s Stretch preferred stock, which offers an 11.5% annual dividend paid monthly.

The shares were below their US$100 par value and traded under US$83 on Thursday.

Analysts said the weaker STRC price raised concerns that Strategy may need to sell more Bitcoin or issue common stock to meet its obligations.

The concern comes after the company used 61% of a reserve earmarked for preferred-stock dividends and debt interest payments to repurchase US$1.5 billion of convertible notes.

The risk is not purely theoretical. A 32-BTC sale was earmarked for preferred-stock distributions, and management said it may sell Bitcoin when it benefits the company.

Strategy shares fell about 6% on Thursday and are down about 70% over the past year.

🔗 Source: Bloomberg

Recent Strategy developments