Strategy’s flagship preferred stock is facing pressure, but analysts say that's not yet an existential threat for the Bitcoin treasury giant.

Everyday investors that own Strategy’s STRC have been drawn to double-digit yields, but the preferred stock’s volatility has shaken some.

“It appears traders are seeing the latest BTC acquisition as an unsustainable path for STRC,” said 10x Research’s Markus Thielen.

Strategy shares tumbled alongside Bitcoin on Friday as the firm's flagship preferred stock also came under pressure.

Apyx's STRC collateralized stablecoin suffers a brief depeg. Protocol says its a feature, not bug

With STRC trading under $100, experts are at odds over whether the sale has exposed a “structural crack” in Strategy’s Bitcoin flywheel.