NiftyNoon: Is Strategy from Michael Saylor the Greatest Risk to Bitcoin? đ â ď¸â ď¸
(March 19, 2025)
Nifty Thought:
The launch of StrategyâsâStrikeâ $STRF by Michael Saylor has raised concerns about the firmâs potential outsized impact on the price of Bitcoin. Following the recent underperformance of Strategy $MSTR (formerly known as MicroStrategy), Saylor has announced a new perpetual preferred stock offering that pays a fixed 10% annual dividend which compounds 1% annually if unpaid (up to 18%). This differs from previous offerings such as $STRK in that it is not convertible into common stock at a premium price and is offered at-the-market. Furthermore, holders of $STRF has a fixed $100 per share liquidation preference. The aggressive structure of this new offering has sparked concerns that Saylor strongly needs new liquidity. A potential Strategy liquidation could compound and cascade into supremely negative price action for Bitcoin. At the same time, much of Bitcoinâs recent strength has come on the backs of Strategyâs consistent purchases alongside flows from ETFs such as IBIT. With this in mind, it is clear no single firm poses a greater risk to Bitcoin than Strategy does.
Highlighted News:
đ Strategy today announced the launch of $STRF ("Strife"), a new perpetual preferred stock offering:
https://x.com/saylor/status/1901969874441654434?s=46
𫧠-$53M operating cash flow, -$1.06B in levered free cash flow, and Strategy wants to issue a 10% perpetual interest on $500M - why:
https://x.com/adamscochran/status/1902049804462571754?s=46
đŚ Introducing Coinbase Verified Pools, a trusted way to seamlessly trade onchain:
https://x.com/coinbase/status/1902031823900647583
𼊠Justin Sun Staked $100M ETH Today:
https://x.com/arkham/status/1902057003226214832
Project and Community News:
President Trump's Executive Director on digital assets: "We talked about ways of acquiring more Bitcoin in budget neutral ways": https://x.com/BitcoinMagazine/status/1902046182173446627
The â50x ETHâ whale has closed its $BTC short position, earning a $4.06M profit in just 3 days: https://x.com/spotonchain/status/1901907274186235971
@udiWertheimer shares info on the upcoming WL as team is reviewing Quest 5 submissions: https://x.com/udiwertheimer/status/1901774033630224832?s=46
It appears as if @aixbt_agent was tricked by @0xhungusman (account now deleted) into sending 55.50 eth to them: https://x.com/supremeleadoor/status/1901869830267167026
Templar Protocol Has Raised $4M in Pre-Seed Funding: https://x.com/TemplarProtocol/status/1900215307991740455
@yeet announce the $7.75m raise completed last summer: https://x.com/yeet/status/1902031026752287151
@crossmint announce $23.6M fundraise, led by Ribbit Capital: https://x.com/crossmint/status/1902023453898609036
Introducing Vaulta â bridging traditional banking with the power of Web3: https://x.com/EOSNetworkFDN/status/1902083647454507329
@GoBlockProtocol shares future plans: https://x.com/goblockprotocol/status/1902028052458090996?s=46
Binance announces the Bubblemaps (BMT) HODLer Airdrop â @bubblemaps $BMT: https://x.com/binance/status/1901942276537901238
Raydium is releasing a memecoin launchpad that will "initially resemble a direct fork of pump fun", named LaunchLab: https://x.com/whosknave/status/1902087627936874599
Seekers have entered the testing phase. Shipping starts Summer 2025: https://x.com/solanamobile/status/1902027278126665734
Designed by acclaimed artist @deekaymotion, the Official Art Basel Hong Kong 2025 Poster brings his signature animation style to an exclusive, highly limited release: https://x.com/iconic__culture/status/1902009221962756184?s=19
Microsoft has identified a new security threat, StilachiRAT, which targets 20+ crypto wallets via Google Chrome browser extensions on PCs: https://x.com/phantom/status/1902144741929840768?s=46
@redactedcoin finally decided to do another raise instead of doing TGE: https://x.com/siomayikan69/status/1902016948013289536?s=46
Starting today, @NBATopShot on @flow_blockchain is tradable on OpenSea: https://x.com/opensea/status/1902057419347255590
Someone got access to both @RoundtableSpace and @Crypto_TownHall and posted a fake CA: https://x.com/RoundtableSpace/status/1902119459701322125
@pudgypenguins #6873 just originated a loan of 60 ETH for 45 days at 24% effective APR: https://x.com/gondixyz/status/1902010982769320158?s=46
Quick Stats:
đž Blur ETH Daily Volume: 558 ETH (âź 14.72%)
đ OpenSea ETH Daily Volume: 1,168 ETH (âź 29.53%)
đ BTC: $83,806.57 (Ⲡ1.76%)
đˇ ETH: $2,008.60 (Ⲡ5.95%)
đŁ Solana: $127.89 (Ⲡ3.62%)
đŞ Polygon: $0.22 (Ⲡ5.17%)
Top NFT Sales:
CryptoPunks #6634: 222.50 ETH
CryptoPunks #1750: 48.95 ETH
CryptoPunks #9381: 43.99 ETH
NFT Daily Winners:
đź Ordinal Maxi Biz: 0.03 BTC (Ⲡ4.54%)
đ§ Pudgy Penguins: 9.26 ETH (Ⲡ2.89%)
đŹ CryptoPunks: 38.40 ETH (Ⲡ1.05%)
đłâđ Chromie Squiggles: 3.98 ETH (âş 0.00%)
đ Mocaverse: 2.40 ETH (âş 0.00%)
NFT Daily Losers:
⊠Azuki: 2.40 ETH (⟠0.11%)
𦧠Bored Ape Yacht Club: 12.55 ETH (⼠0.24%)
𧌠Bitcoin Puppets: 0.04 BTC (⟠1.37%)
đŠđť Milady Maker: 3.38 ETH (âź 1.50%)
đľ NodeMonkes: 0.04 BTC (âź 1.97%)
đž Tensorians: 3.50 SOL (âź 2.40%)
đĄ Mad Lads: 49.67 SOL (âź 8.02%)
đ´ââ Captainz: 0.82 ETH (âź 10.77%)
đą Quantum Cats: 0.12 BTC (âź 11.36%)
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