Something that seems to be flying under the radar today is the performance of STRC, @Strategy’s high-yield savings account product. While the S&P 500, Nasdaq, Russell 2000, bitcoin and bitcoin treasury companies are down, STRC is trading higher and just reached 100 per share for the first time ever. That is fairly remarkable given current market conditions. In periods of market stress, STRC (so far) appears to hold or even strengthen its bid. Its deep overcollateralization and stable target price may make it an attractive safe haven when risk assets sell off. If this continues, it could be huge. Bitcoin Treasury companies may be able to issue Digital Credit during sell offs, using those moments to buy bitcoin lower and add amplification at ideal points in the cycle. This is something I will be watching closely, both STRC’s performance and any new Digital Credit issuance from Strategy and other bitcoin treasury companies. Sustained trading around 100 would be a powerful confirmation of market confidence in bitcoin-backed fixed income.(Joe Burnett, MSBA)