'Stop Buying Bitcoin': Strategy Needs More Cash Fast, Analyst Says as STRC Hits New Low
Ballooning costs associated with Strategy’s flagship preferred stock have left the Bitcoin-buying firm in a bind—and there’s only one real solution, as CryptoQuant argued on Tuesday. If the world’s largest corporate holder of Bitcoin wants to take pressure off Stretch (STRC), it needs to stop purchasing the digital asset immediately and focus purely on shoring up cash, the analytics firm’s Head of Research, Julio Moreno, shared in a note.