- ZachXBT joined the debate about the authenticity of Strategy’s new STRC Stock.
- The blockchain investigator blasted a Bitcoin Maximalist for going against an STRC critic.
- The Strategy’s STRC yield rate is an 11.5% annual dividend paid monthly.
The debate about Strategy’s STRC is taking new dimensions, with more cryptocurrency stakeholders speaking for or against the product. The latest crypto personality to join the argument is ZachXBT, the pseudonymous blockchain investigator.
Crypto Experts in a Back-and-Forth
In his latest post on X, ZachXBT criticized Adam Livingston, a renowned Bitcoin maximalist, for debunking an attack on STRC by another crypto community member identified as Coffeezilla.
In an uploaded video, Livingston debunked Coffeezilla’s criticism of STRC, citing instances where the latter missed his description of the stock. He highlighted Coffeezilla’s limited understanding of the product in a way that ZachXBT did not appreciate.
For instance, Livingston stated that Coffeezilla’s 18-minute video about STRC amounted to character assassination on Strategy. According to him, the STRC critic called the product a Ponzi scheme without providing any mechanism by which the structure is fraudulent. Livingston further stated that Coffeezilla provided zero proof that Strategy had not disclosed the stock’s proper risks, as he claimed.
Varying Opinions From Stakeholders
From Livingston’s perspective, Coffeezilla’s video presentation has misled thousands of people into thinking that Strategy is fraudulent, and he urged the STRC critic to improve on his product analysis.
In the meantime, ZachXBT didn’t see much wrong in Coffeezilla’s presentation, which Livingston criticized. Instead, he thinks the latter was overly hostile in his response, an attribute he associated with most Bitcoin maxis, particularly when they come across people with opinions contrary to their beliefs.
Despite Livingston’s argument that ZachXBT misinterpreted his response as a hostile attack, the blockchain investor insisted that using phrases such as “character assassination” was overboard and implied that Coffeezilla should be held legally accountable for defamation.
What is STRC?
For context, STRC is a high-yield, variable-rate preferred stock issued by Strategy Inc. to fund Bitcoin purchases. The product offers 11.5% annual dividend paid monthly, a yield rate that ZachXBT has criticized. According to him, he advises his followers to stay away from products advertising 11% to retail.
Notably, many analysts linked Bitcoin’s surge last Thursday to STRC-driven activity, after the stock saw a movement of over 3 million preferred shares, generating capital to purchase more than 2,000 BTC, worth approximately $144 million.
Related: Shkreli Calls for Saylor’s Arrest Over STRC Preferred Stock Ad
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