Name: MSTR, STRC, and BTC: Vinny Lingham on What Just Broke
Uploaded: 2026-06-26T02:57:16+00:00
Duration: 2004 s

Speakers

Vinnie Lingham — Co-founder and Chairman of Praxos Capital Management

Summary

Vinnie Lingham argues that Strategy's (MSTR) levered Bitcoin play is unraveling, dragging down STRC and Bitcoin. He predicts MSTR will drop to $50-$80, STRC will never recover to $100, and Bitcoin could fall below $50k as the largest buyer disappears. The conversation examines broken financial engineering, S&P's zero-credit rating for Bitcoin, and broader market implications.

Strategy's complex preferred-stack and Bitcoin buying scheme are failing, hurting MSTR and STRC.
Vinnie Lingham predicts MSTR could fall to $50-$80, trading at a discount to net asset value.
He bets STRC will not return to $100, calling the yield unsafe and the structure permanently damaged.
MicroStrategy's removal as a major Bitcoin buyer and potential forced selling could push BTC below $50k.
He criticizes the heavy financial engineering as a 'Sailor scheme' that adds leverage risk to Bitcoin.
The conversation also touches on S&P's rating methodology, digital credit, and data-center cancellation risks.

Ideas

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 12:23

STRC broken, never returns to $100.

Strategy's preferred stock STRC is permanently broken; the effective yield is no longer safe, and he bets it never returns to $100 because the company cannot repurchase it without hurting MSTR and the yield would need to be prohibitive.

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 14:18

MSTR will drop to $50-80, avoid.

Strategy (MSTR) is in a death spiral: its financial engineering scheme is unraveling, it cannot raise more cash without diluting shareholders when MNAV drops to a discount, and he expects MSTR to drop to $50–$80, trading at a discount to net asset value.

Vinnie Lingham Co-founder and Chairman of Praxos Capital Management 15:05

Bitcoin to fall below $50k, avoid.

Bitcoin's price was artificially supported by MicroStrategy's aggressive buying; with that buyer now sidelined and possibly forced to sell, Bitcoin will decline further into a deeper bear market, potentially retracing 70–80% and falling below $50k.

This Unchained (Chopping Block) video, published June 26, 2026, features Vinnie Lingham discussing STRC, MSTR, BTC. 3 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Vinnie Lingham · Tickers: STRC, MSTR, BTC

MSTR, STRC, and BTC: Vinny Lingham on What Just Broke

Summary

Ideas

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