Michael Saylor Claims STRC Was Designed Using AI; the Product Recently Depegged

Huo Xing Cai Jing reports that on June 19, Michael Saylor of Strategy (MicroStrategy) told CoinDesk in an interview that the company’s variable-rate perpetual preferred stock, STRC, was designed using AI: “I designed all of this with AI—you know, I couldn’t have done it myself. I truly used artificial intelligence; I spent hours back and forth discussing it with AI, just like the rest of us, learning how to design these different things while debating with it—asking, ‘Can I do this?’ ‘Can I do that?’ At one point, I said, ‘I want a monthly dividend preferred product that stays stable at $100.’ It replied, ‘You can do it this way, this way, and this way.’ I asked, ‘Has anyone ever done this before?’ It scanned for ten minutes and told me, ‘No one in the history of the world has ever done this, but it’s completely legal and entirely feasible.’” Recently, the detachment of STRC has continued to draw community attention; the stock plunged to a low of $82.70 early this morning and closed at $88.80.