Some analysts claim Bitcoin and MSTR price are the primary drivers of STRC price. If that thesis is correct, last week’s price action deserves an explanation. Last week: $IBIT +4.40% $MSTR +17.56% $STRC -0.07% That is a striking divergence. More importantly, analysis needs to be falsifiable. If the thesis was that a ~30% rebound in Bitcoin from the lows would be sufficient to restore STRC to par, then we now have an observable test of that thesis. Bitcoin rebounded. MSTR rebounded even harder. STRC did not return to par. At that point, the analytical response should not be to move the goalposts. It should be to ask what variable the original model was missing, and why it was ignored or excluded.
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