x.com/ProofMarkets/status/2068030795835474278
1 correction found
STRC has already sold a significant amount of BTC
STRC is Strategy’s preferred stock, not the entity that holds or sells bitcoin. Strategy says STRC is a security issued by the company, and proceeds from STRC offerings are used by Strategy to acquire BTC.
Full reasoning
This event description mixes up STRC (a preferred stock/security) with Strategy (the company that holds bitcoin).
Strategy’s own STRC page says: “Stretch (STRC) is Strategy’s perpetual preferred stock” and also notes that the company’s preferred securities, including STRC, “are not collateralized by the Company’s bitcoin holdings.” That means STRC is a class of preferred stock, not a bitcoin-holding vehicle that can itself sell BTC.
Strategy’s July 21, 2025 IPO announcement for STRC likewise describes STRC as “Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock” and says Strategy intends to use the net proceeds from the offering “including the acquisition of bitcoin.” In other words, Strategy may sell/issue STRC shares, and Strategy may buy or sell bitcoin — but STRC itself does not sell bitcoin.
So the specific wording “STRC has already sold a significant amount of BTC” is factually incorrect as written. A more accurate phrasing would refer to Strategy selling bitcoin, or to Strategy issuing/selling STRC stock.
2 sources
- STRC Information — Strategy
“Stretch (STRC) is Strategy’s perpetual preferred stock...” and “The Company’s preferred securities (STRF, STRC, STRE, STRK, STRD) are not collateralized by the Company’s bitcoin holdings...”
- Strategy Announces Proposed Initial Public Offering of STRC Stock
Describes STRC as “Strategy’s Variable Rate Series A Perpetual Stretch Preferred Stock” and says “Strategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin...”