News
Strategy (MSTR) swung to an $8.6 billion net loss on bitcoin's quarter-end markdown, but still grew its hoard 11% to 846,000 BTC. Management is now leaning on a $1 billion buyback to push its STRC product back toward par.
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Nasdaq-listed miner Bitdeer sold all 244.3 BTC it mined in the week through July 17, sticking to its zero-holdings strategy. Plus: Polygon pivots to payments, Coinbase CEO pushes self-custody, and Stripe eyes a $53B PayPal takeover.
News
Strategy (MSTR) launched a Bitcoin Banking Index to track publicly traded bitcoin holders, sending shares up 5.95% after hours to $97.58. The move comes just a day after the company sold 3,588 bitcoin for ~$216 million, trimming its hoard to 843,775 coins.
News
Strategy (MSTR) has authorized the sale of up to $1.25 billion in bitcoin for the first time, breaking CEO Michael Saylor’s long-standing pledge. The stock rose 7.90% on the news.