STRC preferred stock slide draws flawed Terra comparison

Strategy's STRC preferred stock dropped to about $82.53, prompting social media comparisons to Terra's failed UST stablecoin. Benchmark analyst Mark Palmer argued STRC is not a stablecoin and never had a fixed peg, calling the slide a market-driven yield reset. STRC is backed by Strategy's bitcoin holdings and funds bitcoin purchases when trading at or above $100.