Strategy's Preferred Stock STRC Plunges to $78.90, Down 2.40% on June 25

According to reports on June 25, Strategy's perpetual preferred stock STRC fell to $78.90 intraday, down 2.40%, sinking below its $100 par value to record lows. The decline triggered broader pressure on Strategy's Class A stock (MSTR), which dropped 5.21% to $89.23 over the same period.

CryptoQuant analysts cited a sharp squeeze in Strategy's finances as the key driver. The company's cash reserves have fallen 38% since the start of 2026, while annualized dividend obligations have nearly quadrupled to $1.2 billion. Dividend coverage has collapsed from over seven years to just 14 months, according to the report. Additionally, Strategy carries a $10.6 billion unrealized loss on its Bitcoin holdings, limiting room for emergency asset sales.