6月25日，Strategy永续优先股（STRC）盘中下跌8.15%，报80.19美元/股，成交额3.34亿美元，较100美元面值折价近20%。
消息面上，SEC文件显示Strategy拟发行总额最高达210亿美元的可变利率系列A永续优先股，大规模同类证券供给预期加剧了现有STRC持有者的稀释忧虑。与此同时，分析师呼吁公司暂停比特币增持、优先修复现金储备。数据显示，公司美元现金储备已较年初下降36%至14亿美元，总持仓账面亏损达110亿美元，而STRC当前11.5%的年化股息需持续现金支出，分析师认为需将现金储备重建至约28亿美元方可支撑STRC回归面值。此外，公司已连续三周通过发行普通股而非优先股融资购币，进一步加剧市场对其融资结构可持续性的质疑。
（以上内容均基于市场公开消息，由程序或算法智能生成，仅作为股价异动提醒，不作为投资建议或交易依据。）
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