Bitcoin upside. Real yield. No depeg risk.
Here's why it matters.
The Problem with STRC
It's preferred stock in a company that holds Bitcoin — not a direct claim on Bitcoin itself. Your yield is real. Your upside isn't.
Par Value
Actual Low
STRC fell to $85.32 — a 15% loss from par — while Strategy tried to maintain a $100 anchor through dynamic dividend adjustments. Sound familiar?
STRC Mechanism
Strategy adjusts the dividend rate to keep STRC near $100. If market confidence breaks, the mechanism can't hold — and the market has already tested this.
KuCoin Note
"Does this give you a sense of an algorithmic stablecoin?" — KuCoin analysts flagged the structural similarity when STRC broke from par.
2718.fund is priced by Bitcoin — not by a dividend-adjustment mechanism. When BTC goes up, your principal goes up. The yield is generated on top of that position, not instead of it.
| Feature | 2718.fund | STRC |
|---|---|---|
| Bitcoin price upside | ✓ Yes — principal tracks BTC | ✗ No — preferred stock only |
| Price pegged to $100 | ✓ No peg — no peg risk | ✗ Targets $100, has broken to $85 |
| Yield mechanism | Options / strategy on BTC | Dynamic dividend (adjustable) |
| Yield target | 10% APR, monthly | 11.5% — but yield implied 12–13% when price falls |
| Independent pricing | ✓ BTC-priced | ✗ Strategy equity — can diverge from BTC |
| Depeg risk | ✓ None — no target price | ✗ Real — already happened twice |
What this means
STRC trades based on Strategy's credit, the dividend rate, and market confidence — not the price of Bitcoin. Bitcoin can rally and STRC can still fall.
What happened
STRC has hit a yearly low while Bitcoin was in a bull market phase. The two assets decouple — and not in your favor.
Strategy's preferred stock carries preferred equity risk, dividend risk, and company-specific risk — on top of crypto market risk. That's three ways to lose when you signed up for one.
Every payout delivered. Principal long Bitcoin. No peg. No anchor. No depeg.
✓ BTC Upside
Principal tracks Bitcoin price — not a preferred equity price
✓ No Depeg
No $100 target to defend, no mechanism that can break
✓ Real Yield
10% APR paid monthly — six months of live proof
2718.fund — Oct 1 · Shore Hotel · Santa Monica