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Bitcoin-backed corporate credit has grown past $10 billion and continues attracting new issuers even after a June selloff triggered margin calls and pushed leading preferred shares well below par, according to BitcoinTreasuries.net. The episode functions as the sector's first real stress test of whether treasury companies like Strategy can sustainably finance BTC accumulation through preferreds and convertibles, a flow channel that has been a marginal buyer of spot bitcoin. Watch whether new issuance volumes and preferred-share prices recover toward par; renewed discounts or failed deals would signal shrinking leveraged demand for BTC, while continued growth supports the institutional bid.
As a Research signal, watch whether it changes price action, volatility, or flows around BTC, MSTR.
Original Source: CryptoSlate
This page is market information analysis, not investment advice.
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