STRC Stock Drops to $82.50 as Strategy's Bitcoin Model Stumbles

Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock fell to a record low of $82.50 this month, trading 17.5% below its $100 stated value after the company spent $1.5 billion in May repurchasing its 0% convertible notes due 2029. CryptoQuant estimates that move cut Strategy's cash…