{"id":1664,"date":"2026-06-23T04:35:35","date_gmt":"2026-06-23T04:35:35","guid":{"rendered":"https:\/\/xrpfaucet.site\/?p=1664"},"modified":"2026-06-23T04:35:35","modified_gmt":"2026-06-23T04:35:35","slug":"comparing-bitcoin-giant-strategy-to-terra-luna-is-a-strc-benchmark-says","status":"publish","type":"post","link":"https:\/\/xrpfaucet.site\/?p=1664","title":{"rendered":"Comparing Bitcoin Giant Strategy to Terra Luna Is a STRC, Benchmark Says"},"content":{"rendered":"<div class=\"crypto-article\">\n<p>\ud83d\udcf0 <strong>Exclusive Crypto News &#038; Analysis:<\/strong> Stay ahead with the latest developments in the cryptocurrency and blockchain space.<\/p>\n<p>\ud83d\udcc8 <strong>Market Update:<\/strong> Real-time price movements, technical analysis, and trading signals.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/img.decrypt.co\/insecure\/rs:fill:1024:512:1:0\/plain\/https:\/\/cdn.decrypt.co\/wp-content\/uploads\/2025\/09\/michael-saylor-bitcoin-nashville-decrypt-style-gID_7.jpg@png\" \/><\/p>\n<div style=\"position:relative;overflow:visible;font-size:1.2em;line-height:1.58\">\n<div class=\"pt-8 pb-10 border-t border-b border-decryptGridline \">\n<h4 class=\"sc-b2a202e4-4 bNRGqr gg-dark:text-white\" color=\"#333\">In brief<\/h4>\n<ul>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Strategy\u2019s Stretch (STRC) may be volatile, but it\u2019s far from the stablecoin that underpinned Terra\u2019s ecosystem, according Benchmark-StoneX\u2019s Mark Palmer.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">The Bitcoin-buying firm\u2019s flagship preferred stock is designed to trade at a certain level, but it\u2019s incapable of \u201cdepegging\u201d in a technical sense, he wrote.<\/li>\n<li class=\"font-meta-serif-pro font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">STRC fell as low as $82.53 last week, and on Monday, it recovered some losses to close around $88.65.<\/li>\n<\/ul>\n<\/div>\n<p><iframe title=\"Spotify Embed: The Decrypt News roundup with TylerD - June 22nd\" style=\"border-radius:12px\" width=\"100%\" height=\"152\" frameborder=\"0\" allowfullscreen=\"\" allow=\"autoplay; clipboard-write; encrypted-media; fullscreen; picture-in-picture\" loading=\"lazy\" src=\"https:\/\/open.spotify.com\/embed\/episode\/3xwC98qJuZP885JTr4X6yD?utm_source=oembed\"><\/iframe><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Strategy\u2019s Stretch (STRC) is facing <\/span><a href=\"https:\/\/decrypt.co\/371763\/strategy-pads-cash-reserves-to-1-4b-after-strcs-stumble\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">notable pressure<\/span><\/a><span style=\"font-weight:400\">but it doesn\u2019t resemble the stablecoin that brought crypto to its knees in 2022, according to Benchmark-StoneX\u2019s Mark Palmer.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Although the Bitcoin-buying firm\u2019s flagship preferred stock evoked painful memories as it drifted to <\/span><a href=\"https:\/\/decrypt.co\/371552\/why-bitcoin-titan-strategy-strc-falling-new-lows\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">record lows<\/span><\/a><span style=\"font-weight:400\">  last week, comparisons between it and Terra\u2019s collapsed ecosystem remain \u201cfundamentally misguided,\u201d the investment bank\u2019s analyst shared in a Monday note.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">Palmer argued that STRC\u2019s weakness has \u201cfueled alarmist commentary across social media,\u201d overlooking core differences between the dividend-paying product and two tokens, TerraUSD and LUNA, which <\/span><a href=\"https:\/\/decrypt.co\/299908\/terra-collapse-million-victims-feds-allege-do-kwon\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">erased<\/span><\/a><span style=\"font-weight:400\">  $40 billion in market cap as they plummeted years ago.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">\u201cSTRC is not a stablecoin,\u201d Palmer underscored. \u201cIt is not backed by an algorithmic arbitrage mechanism, and it is not dependent on confidence in a reflexive token structure.\u201d<\/p>\n<p><iframe loading=\"lazy\" style=\"border:0\" src=\"https:\/\/myriad.markets\/embed\/market\/btc-next-move-pump-to-84k-or-dump-to-55k-3d262902-135d-416e-90bc-8e80233f341e\" width=\"100%\" height=\"415px\"><span style=\"display:inline-block;width:0px;overflow:hidden;line-height:0\" data-mce-type=\"bookmark\" class=\"mce_SELRES_start\">\ufeff<\/span><\/iframe><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\">Most stablecoins are backed by a combination of cash and U.S. Treasuries, but TerraUSD attempted to break that mold without any hard reserves, relying instead on a novel <a href=\"https:\/\/decrypt.co\/resources\/what-is-terra-algorithmic-stablecoin-protocol-explained\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">\u201cmint-and-burn\u201d framework<\/span><\/a><span style=\"font-weight:400\">  with its sister token, LUNA, to artificially maintain its peg.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">STRC, conversely, is indirectly backed by Strategy\u2019s Bitcoin holdings. The Tysons Corner, Virginia-based firm signaled on Monday that it now owns 847,363 Bitcoin, a sum valued at $54.5 billion with the digital asset changing hands around $64,400.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">As Terra\u2019s ecosystem unwound, TerraUSD \u201cdepegged,\u201d losing parity with the U.S. dollar as investors swiftly lost confidence in the protocol\u2019s ability to remain stable. The project\u2019s Anchor Protocol was famously known for offering a 20% annual percentage yield on deposits.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">That same language was used in relation to STRC\u2019s weakness on Thursday, as the product, which currently offers an 11.5% annual dividend, fell as low as $82.53. On Monday, the preferred stock closed flat at $88.65, or around 11.3% below its $100 par value, according to <\/span><a href=\"https:\/\/finance.yahoo.com\/quote\/STRC\/\" target=\"_blank\" class=\"sc-adb616fe-0 bJsyml\"><span style=\"font-weight:400\">Yahoo Finance<\/span><\/a><span style=\"font-weight:400\">.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">STRC, Palmer noted, is engineered to trade around the $100 mark, but its price has been cyclical since it debuted less than a year ago. When STRC trades at or above that threshold, Strategy issues more shares and uses the proceeds to purchase more Bitcoin.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The product has lingered below its $100 par value for several weeks, and some analysts now anticipate that the company will seek to increase the product\u2019s dividend rate in an attempt to support its recovery back toward that level.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">There are other levers that Strategy can pull as well. For example, the Bitcoin-buying firm has accumulated cash for three straight weeks, topping off its USD reserve as a way to communicate to preferred stockholders that dividend payments will continue flowing.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">When STRC trades below the $100 mark, its ability to purchase Bitcoin may be constrained, but that doesn\u2019t mean there\u2019s a fundamental problem, Palmer wrote.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">\u201cThere is a meaningful difference between stating that Strategy&#8217;s preferred stock funding engine has become less efficient,\u201d he said, \u201cand asserting that the company&#8217;s overall model is broken, as some of its detractors have suggested.\u201d<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">The investment bank reaffirmed its $570 price target for Strategy. The forecast is far above the multi-year high of $457 that the company\u2019s shares soared to in October.<\/span><\/p>\n<p class=\"font-meta-serif-pro scene:font-noto-sans scene:text-base scene:md:text-lg font-normal text-lg md:text-xl md:leading-9 tracking-px text-body gg-dark:text-neutral-100\"><span style=\"font-weight:400\">On Monday, Strategy shares fell 2.8% to $109. The performance added to a negative streak, with the company\u2019s stock price falling for a fifth straight trading day.<\/span><\/p>\n<div class=\"my-4 border-b border-decryptGridline\">\n<div class=\"text-start p-8 md:py-12 md:px-12 max-w-prose relative\"><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-(6px) md:border-l-(6px) md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute top-4 left-4 md:top-6 md:left-6\"\/><span class=\"border-t-4 border-l-4 w-4 h-4 md:border-t-(6px) md:border-l-(6px) md:w-6 md:h-6 border-decryptPurple dark:border-decryptNeon gg-dark:border-cc-pink-2 absolute rotate-180 bottom-4 right-4 md:bottom-6 md:right-6\"\/><\/p>\n<h3 class=\"font-akzidenz-grotesk font-bold text-xl md:text-3xl md:text-center gg-dark:text-white\">Daily Debrief<!-- --> Newsletter<\/h3>\n<p>Start every day with the top news stories right now, plus original features, a podcast, videos and more.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<p>\ud83d\udca1 <strong>Pro Tip:<\/strong> Bookmark our site for daily insights, market predictions, and expert trading strategies.<\/p>\n<p>\ud83d\udd17 <strong>Explore More:<\/strong> Check our sections for in-depth guides, exchange reviews, and blockchain technology deep-dives.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>\ud83d\udcf0 Exclusive Crypto News &#038; Analysis: Stay ahead with the latest developments in the cryptocurrency and blockchain space. \ud83d\udcc8 Market Update: Real-time price movements, technical analysis, and trading signals. In brief Strategy\u2019s Stretch (STRC) may be volatile, but it\u2019s far from the stablecoin that underpinned Terra\u2019s ecosystem, according Benchmark-StoneX\u2019s Mark Palmer. The Bitcoin-buying firm\u2019s flagship &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1665,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-1664","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts\/1664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1664"}],"version-history":[{"count":0,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/posts\/1664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=\/wp\/v2\/media\/1665"}],"wp:attachment":[{"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/xrpfaucet.site\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}