Strategy splits $603 million share sale between Bitcoin purchases and STRC support

Strategy raised $602.8 million by selling 4,531,421 MSTR common shares in one week, then split the proceeds among a renewed Bitcoin purchase, support for its STRC preferred stock, and additional cash. The company’s Aug. 31 filing attributed $369.7 million to buying Bitcoin, $151.8 million to repurchasing 1,557,177 STRC shares, $50.7 million to STRC dividends, and […]

Why Bitcoin’s $2B corporate treasuries are a ticking time bomb of hidden conditional supply

During the three months ending June 30, CleanSpark put 9,400 Bitcoin-equivalent call contracts through Spot+, its strategy for selling options around ongoing sales from its corporate Bitcoin treasury. Because the figure is expressed in Bitcoin equivalents, it can resemble a balance-sheet position even though it measures a quarter’s trading flow. In its Aug. 6 quarterly […]

Massive Bitcoin derivatives gap between CME and Coinbase threatens violent position shakeout

Leveraged funds held a 41,252 $BTC-equivalent net short across CME Bitcoin futures, including standard and Micro contracts on Aug. 25, while the CFTC snapshot showed the same category net long just 151 $BTC in Coinbase’s nano Bitcoin perpetual-style contract. For the next forced unwind, the important distinction is scale rather than an evenly matched directional […]