Strategy's CEO Floats 'Bitcoin Winter' Risk in Reset Memo
Phong Le acknowledged on a podcast that a multi-quarter price freeze remains a real possibility — a notable change of tone from the firm's usual unalloyed bullishness.
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Phong Le acknowledged on a podcast that a multi-quarter price freeze remains a real possibility — a notable change of tone from the firm's usual unalloyed bullishness.
More than a dozen smaller listed companies have rebranded around large Bitcoin holdings, hoping to capture the equity premium MicroStrategy turned into a category.
Delegates discovered an integration that quietly diverted swap fees away from the DAO treasury, igniting one of the most contentious governance fights in DeFi.
Issuers are competing for stablecoin TVL by passing more of the underlying treasury yield through to holders, reshaping the long-static stablecoin landscape.
USDT issuer Tether published its latest reserves report, with U.S. Treasury holdings now larger than those of several sovereign nations.
More than two dozen non-U.S. listed companies have announced material Bitcoin treasury positions, with Japanese and Brazilian issuers leading the trend.
Treasury formally established a working group to study a U.S. Strategic Bitcoin Reserve, with seized-asset BTC as the proposed initial source.
The MicroStrategy playbook works beautifully in a bull market and brutally in a sustained drawdown. The next twelve months will be the test.
Even crypto-friendly observers should be skeptical of putting a volatile speculative asset on the federal balance sheet, regardless of which side benefits politically.
MicroStrategy made the playbook look easy. The next downturn will reveal which copies were genuinely operational and which were leveraged caricatures.