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![BLACK1W1 Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::375484773.png) Kiwi [@BLACK1W1](/creator/twitter/BLACK1W1) on x 2726 followers
Created: 2025-07-23 13:28:49 UTC

Agree with the duration aspect completely.  

Bear market in BTC? Not sure that will affect STRF and STRD much at all - mainly STRK would be affected by a prolonged bear and suppressed price, due to the conversion optionality being further away from the $1000 strike price - that's the only preferred tied to market action/value of the underlying MSTR common.  

The exact buyers that are ported into the preferred STRF/STRD/STRC are unaffected by BTC and MSTR action - their performance is not tied to the equity's performance - they're simply there for 9%-10% yield vs money market rate of ~3.95%.  

If SOFR drops as trump is pushing very hard for, STRK/STRD/STRK only going to get more popular as the rates decrease.  Those three preferred rates aren't tied to SOFR, whereas STRC yield will decrease.


XX engagements

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**Related Topics**
[mstr](/topic/mstr)
[strk](/topic/strk)
[strd](/topic/strd)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)
[coins pow](/topic/coins-pow)

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