Arkham: Legally, there is no obligation to prioritize the payment of STRC dividends, so there is no risk of forced liquidation

In response to market concerns about whether it is the next LUNA, Arkham analysis indicates that STRC is a perpetual preferred stock with a dividend yield of 11.5%, requiring approximately $1.2 billion in payments annually. The strategy reserves $1.4 billion, but there is no legal obligation to prioritize dividend payments.

However, Arkham also pointed out that the decline in stock price reflects market worries about Saylor's ability to continue paying dividends and raising funds. This will not directly collapse the company but may have a long-term impact on investor confidence and financing.

According to market data, after the U.S. stock market opened tonight, STRC briefly fell to $73 and is currently reported at $76.2 (25% below the $100 par value).