Markets From a bond buyback and dwindling cash reserves to a bitcoin bear market, the sequence of events that turned STRC's par-value challenge into a marketwide debate. By James Van Straten|Edited by Sheldon Reback Jun 20, 2026, 1:00 p.m. 4 min read Make preferred on Share this article X (Twitter)LinkedInFacebookEmail Make preferred on Strategy Executive Chairman Michael Saylor.