Strategy sold $100M to defend STRC’s $100 stock price as DeFi packages the risk into a 7% ‘safer’ trade
Solstice announced a tranched product built on Strategy's Bitcoin-related STRC preferred stock, and said its senior tranche would not begin absorbing losses until STRC trades below $47.66. STRC currently trades near $95.315, putting that threshold roughly half of today's market price and about 52% below the security's $100 par value. Solstice COO David Plisek described […] The post Strategy sold $100M to defend STRC’s $100 stock price as DeFi packages the risk into a 7% ‘safer’ trade appeared first on CryptoSlate.
Key Takeaways
- Solstice announced a tranched product built on Strategy's Bitcoin-related STRC preferred stock, and said its senior tranche would not begin absorbing losses until STRC trades below $47.66.
- STRC currently trades near $95.315, putting that threshold roughly half of today's market price and about 52% below the security's $100 par value.
- Read the full article for additional context and details.
Summary generated by IndiCrypto from CryptoSlate. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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