Strategy Inc's Preferred Shares Plummet Below Par, Sparking Bitcoin Liquidation Fears

Strategy Inc's (MSTR) preferred shares, trading under the ticker STRC, have been stuck below their $100 par value since July 2025. On Thursday, STRC finished at $88.59 after touching an intraday low of $82.50.

Daily trading volume exploded to 10.7 million shares, significantly exceeding the typical average of 3.4-3.5 million. This surge in activity may be a sign that investors are taking notice of the situation.

According to Arca's Chief Investment Officer Jeff Dorman, Strategy might be forced to liquidate $3B-$4B worth of Bitcoin to bring STRC back to par value. This would have significant implications for the cryptocurrency market and could lead to a massive liquidation risk.