Why buy STRIPS?

Could you please elaborate on the benefits of investing in STRIPS, or Separate Trading of Registered Interest and Principal of Securities? As an investor looking to diversify my portfolio, I'm curious about the unique advantages they offer compared to traditional bonds. Are STRIPS particularly suited for specific investment goals or risk appetites? Additionally, how do their tax implications compare to other investment options? Understanding these factors will help me decide if STRIPS are a suitable addition to my financial strategy.