Japan · Bitcoin · Strategy · CryptoSlate
Bitcoin’s $10 billion credit market keeps growing after its first major selloff
Compiled by KHAO Editorial — aggregated from 1 source + 1 reference discovered via search. See llms.txt for citation guidance.
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Bitcoin’s more than $10 billion corporate credit market is still attracting new entrants after a June selloff triggered margin calls and drove its leading preferred shares far below par.
Key facts
- STRC eventually fell to about $75, roughly 25% below its stated value, while SATA declined to around $88
- As of publication, STRC had recovered to about $87 from a low near $75, while SATA had climbed back to roughly $97
- Digital credit backed by Bitcoin could evolve into instruments traded and settled globally on a 24/7/365 basis, with interest and distributions accruing on a daily prorated basis according to the holding period
- Beginning June 18, STRC and SATA moved sharply below par
Summary
01 BitcoinTreasuries.net says the market’s first major stress test sent Strategy and Strive preferred shares sharply below par in June. 02 Despite the selloff, dividends kept flowing, record secondary trading absorbed liquidations, and corporate treasuries kept buying Bitcoin. 03 Metaplanet’s Japan study and other planned products show growth, but issuance terms and investor appetite after the slump remain unresolved. A new report from BitcoinTreasuries.net described the downturn as the sector’s first meaningful stress test, offering an early measure of whether companies can reliably build financing structures around their cryptocurrency reserves.