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Benchmark reiterates $570 target on Strategy after STRC selloff, says preferred stock is ‘not a stablecoin’

Benchmark said STRC's drop below $83 was a leverage flush, not a "depeg," and reiterated its $570 target on Strategy.

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Benchmark reiterates $570 target on Strategy after STRC selloff, says preferred stock is ‘not a stablecoin’

Benchmark said STRC's drop below $83 was a leverage flush, not a "depeg," and reiterated its $570 target on Strategy.

Why this matters

This maps to the Stablecoins hub, so it can help confirm whether that theme is gaining breadth across the crypto news cycle.

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