Everything web3, crypto, defi, degen
In brief Strategy purchased roughly 3,000 Bitcoin worth $357 million. The company issued common stock to fund the purchase. The move conflicted with a newly adopted equity issuance policy. Strategy, formerly MicroStrategy, purchased $357 million in Bitcoin last week, selling common stock to fund acquisitions for the first time in nearly a month, the company…
In brief SharpLink Gaming unveiled $1.5 billion in potential stock buybacks. The company traded at a slight premium to its Ethereum holdings. SharpLink’s stock price surged more than 15% on Friday to $20.83. SharpLink Gaming can repurchase up to $1.5 billion worth of common stock under a newly authorized repurchase program, the Ethereum treasury firm…
In brief Ethereum hit a new all-time high price, breaking a record set back in 2021. The second-biggest cryptocurrency had lagged behind Bitcoin in gains, and long lingered well short of its previous peak. Institutional adoption and a favorable regulatory landscape have helped the coin in recent months. Ethereum hit a new all-time high price…
In brief SkyBridge Capital boss Anthony Scaramucci predicted that Bitcoin will be “between $180,000 and $200,000” by the end of 2025. He pointed to supply-and-demand dynamics and institutional interest as major drivers. Scaramucci argued that large institutional investors will mainly opt for Bitcoin ETFs over corporate treasuries. Amid Bitcoin’s roughly 6% pullback this week, former…
In brief James Chanos warns that Strategy’s $51 million Bitcoin buy signals weak demand for its preferred stock offerings and criticizes the company for loosening shareholder protections. Strategy modified its equity issuance policy by adding “when otherwise deemed advantageous”, with Chanos alleging it gives CEO Michael Saylor more flexibility to dilute shares at lower valuations.…
For many years, the idea that publicly traded corporations might buy Bitcoin for their reserves was considered laughable. The top cryptocurrency was considered too volatile, too fringe to be embraced by any serious business.That taboo has been well and truly broken, with a number of major institutional investors buying up Bitcoin in recent years.The floodgates…
In brief Strategy compared its P/E ratio to S&P 500 firms last month. That “deceptively” implied that its revenue is recurring, Andy Constan said. Strategy faces class action lawsuits over allegedly false and misleading statements. Strategy, formerly MicroStrategy, misrepresented its business to investors when measuring itself against S&P 500 firms last month, according to Damped…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors mixed ahead of CPI; ETH leads +2% to $4,280 ETH ETFs post first $1B day; Tom Lee acquires 1.2M ETH…
In brief Healthy beverage company Safety Shot Inc. is pivoting to become a crypto treasury firm, receiving $25 million in BONK on Monday. Pseudonymous core contributor Nom is set to join the Safety Shot team in a strategic position, and says it is targeting up to 5% of the meme coin’s total supply. At current…
In brief Strategy—formerly MicroStrategy—first bought Bitcoin five years ago today. The company now holds 628,946 BTC worth over $75.5 billion. Strategy’s latest buy was relatively small: Last week it only spent $18 million on Bitcoin. Bitcoin treasury company Strategy announced another crypto buy on Monday, bringing the behemoth’s total holdings to 628,946 BTC—or over $75.5…
