Strategy executive chairman Michael Saylor compared stock and bitcoin losses with the closing price of the company’s STRC preferred shares on Nov. 5. The Nasdaq Composite fell 5.52% to 24,315, while Saylor said the S&P 500 fell 4.4% and bitcoin fell about 5%. STRC closed at $99.56, below its $100 stated amount.
Saylor called it a “four-sigma” day for equities and said a decline of that size occurs roughly once every 19 months. The source notes that the frequency depends on the return distribution and historical period used. STRC had returned to $100 on Nov. 4, but its dividend payments are not guaranteed, and the shares are not backed by Strategy’s bitcoin holdings.
