原文：Here is why Strategy's dividend-paying crypto stock is crashing to near-historic lows
Strategy (MSTR) 的派息优先股 STRC 周二收于 91.79 美元，为 2025 年 7 月开始交易以来的第三低，原因是比特币价格下跌和债务担忧。
The only lower closes occurred during two sessions later that month, when STRC fell to as low as $88.60. The security was initially priced at approximately $90 in its debut.
STRC（交易视图）
STRC was designed to trade as close as possible to its $100 par value. However, it has remained below that level for an extended period and has not traded at $100 since May 15, last month's ex-dividend date.
从历史上看，STRC 在除息日之前的交易价格将接近 100 美元面值，除息日之后新买家将不再有权获得即将到来的股息。一旦股票除息，它通常会下跌大致相当于股息的价值，然后逐渐恢复到面值，但在 6 月 15 日，STRC 从未达到面值。
Several factors appear to be contributing to STRC's persistent weakness.
首先，该证券历来与比特币同步交易，而比特币仍然面临压力，徘徊在 65,000 美元左右，比 10 月份的历史高点低约 50%。