STRC has had a rough summer, trading more than 10% below par (below $90) since mid-June while investors panicked about what comes next. Will Saylor become a forced BTC seller to fund making dividend payments? Is this the start of a bigger collapse for the world’s largest corporate holder of BTC? Could this lead to BTC prices falling, forcing Strategy to sell even more BTC to fund dividend payments for STRC holders?
Few have the kind of deep expertise to fully understand the health of STRC like Parker White. Parker is a Founding Contributor of Apyx, the yield-focused protocol that distributes STRC yield exposure onchain via apyUSD. Apyx has been a leading DeFi protocol in bringing tokenized STRC exposure onchain thanks to their Dividend-Backed Dollar (DBD) protocol backed by STRC issued. Because apyUSD accrues yield for holders (mainly STRC’s dividend + T-bill yield) through a gradually increasing exchange rate, it makes STRC integral to the success and future growth of Apyx as a protocol.
In the latest episode of The Edge Podcast, Parker explains why STRC is still misunderstood by investors, given it was never meant to be a money market fund, and the structure hasn't fundamentally broken. The issue is with the wrong expectations colliding with a real drawdown this summer during a crypto bear market.
Parker offers a three-pronged approach for Strategy to restore investor confidence: move to daily dividends to make STRC more expensive to short, raise the company call level above $101 to remove the implicit price ceiling, and let time and marketing bring new buyers in to replace the sellers who top-blasted STRC.
He covers what happened with Apyx's own apyUSD and apxUSD during this summer’s drawdown, what's been improved since, and why he still believes DeFi makes STRC exponentially more powerful onchain than it is in a brokerage account.
Listen to the new Edge Podcast below for the full conversation!
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🔗 Guest Links 🔗
► Apyx website: apyx.fi
► Apyx on X: x.com/apyx_fi
► Parker White on X: x.com/theotherparker_
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DISCLAIMER: Nothing said on The Edge Podcast is a recommendation to buy or sell tokens or securities. This content is for educational and entertainment purposes only. Nothing shared here is financial advice. Any views expressed by hosts or guests on the show are solely their opinions. Always do your own research. DeFi Dad, Nomatic, and guests may have positions in the assets or other matters discussed in this podcast. Apyx has been a sponsor of The Edge Podcast. They have never paid for a guest slot, as we do not offer paid guest slots. We chose Parker for his unique expertise to assess the health of STRC.
