STRC’s slide below par has revived Ponzi claims, slowed Strategy’s Bitcoin buys and sparked debate over whether Michael Saylor’s BTC flywheel is still fine.

Michael Saylor‘s (NASDAQ:STRC) dropped below $89.50 Wednesday as crypto analyst DonAlt called Strategy Inc.’s

Strategy’s flagship preferred stock is facing pressure, but analysts say that's not yet an existential threat for the Bitcoin treasury giant.