$STRC is actually genius. It's what I tried with Bitcoin Bonds—strip out $BTC volatility, share upside with TradFi money. The addressable market? ~$200T.

Nothing structurally broken with $STRC (or $SATA, $MARS) unless you think $BTC won't appreciate long-term. We all know that's not happening.

Can $STRC trade under $100? Obviously. It's a free market. This recent drop was leveraged plays getting rekt. Short-term capital panics. That's the game.

But here's the alpha: $STRC below par = arb opportunity for patient capital. Same as stablecoins trading under peg. Buy at discount, redeem at $1. $STRC dividends pay the same whether you bought at $90 or $100. Long-term money will absorb every dip like a sponge.

$STRC isn't even a year old. Still a baby growing at insane pace. Everyone wants to dunk on it now but way too early to call it dead. The mission isn't a 1-year flip—it's a decades-long play to package $BTC for institutions who won't touch raw crypto.

That takes a massive balance sheet to absorb shocks.

And @Strategy has exactly that.