Strategy’s STRC preferred stock plunged below $74 as Bitcoin fell under $60,000, lifting its effective yield and increasing pressure on the company’s funding model.

The price of Bitcoin rapidly fell to nearly $58,000 after Strategy's STRC preferred shares notched a new low and MSTR fell alongside.

Strategy’s STRC preferred stock plunged below $74 as Bitcoin fell under $60,000, lifting its effective yield and increasing pressure on the company’s funding model.