$STRC traded $275M above par last week. I estimate Strategy raised $90.75M, from the STRC ATM alone, assuming 33% was from the ATM. ($275M\*33% = $90.75M) So Strategy purchased around 1,008 BTC from STRC. ($90.75M/$90K per BTC = 1,008 BTC) Plus I bet they ran the common ATM
$MSTR preferreds saw a 12% increase in volume compared with the prior week. The increase was driven by $STRC, which traded at par from Wednesday through Friday.
It's wild to think that $8B of perpetual preferreds like $STRC were invented by Saylor using AI. That is just the beginning. I would not be surprised to see AI make new discoveries in other fields like biotech, physics, gene editing, robotics, and more.
The only reason I have not converted my entire emergency savings to $STRC is that it is untested in a market crash/liquidity crunch (think March 2020). I'm a big fan, but it hasn't yet proven it will hold near the $100 target when I may need it most.
It's insane that $XRP is valued at $130B, yet not a single bank has adopted it in the 14 years since it was created. I see no narrative left. Why are people buying?