STRC is a CREDIT instrument. The question is "How much EXCESS Risk (price volatility), and EXCESS return (yield) does a holder take on compared to Cash, and other fixed income securities?" We did the math for you: $STRC and $SATA carry a similar "slope" of excess risk / return as $JNK, $PXG, and $HYG (other high yield alternatives); HOWEVER, with substantially higher income. Digital Credit is an entirely new ballpark of securities, and the instruments are less than a year old. The world is still learning how to interact, price, and quantify these instruments. There are ZERO historical examples to pull from. STRC is the fastest growing, most successful, most liquid preferred equity in history. There is no precedent, not a surprise the market is bewildered. Let the math a
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