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MicroStrategy's Buying Signal, SBF Pardon Bid & Hut 8's $17B Bond Blowout
Audio is available on Spreaker — see link below.
Michael Saylor signals a Bitcoin accumulation comeback, but MicroStrategy's balance sheet tells a more complicated story. Plus: SBF files a pardon bid, the CLARITY Act lobby surges, and Hut 8's bond sale draws four times its target.
Audio is available on Spreaker — see link below.
Michael Saylor posted on social media over the weekend suggesting MicroStrategy is ready to resume buying Bitcoin. That's the lead, and here's why it matters: this is the same company that just broke a four-year accumulation-only strategy by selling thirty-two Bitcoin.
Shifting to a development that introduces a different kind of risk. Sam Bankman-Fried formally filed a pardon application with the Department of Justice on June first.
On the regulatory front, over two hundred companies including Coinbase and Ripple sent a formal letter to Senate leadership demanding an immediate floor vote on the CLARITY Act. This is the bipartisan digital asset market structure bill that cleared committee.
One of the cleaner data points this cycle came from Hut 8. The Bitcoin miner ran a bond sale targeting four point two five billion dollars and received seventeen billion in demand.
Two shorter items worth flagging. On token unlocks, the period of June ninth to tenth brings over forty-eight million dollars in supply hits.
The near-term signals to track are tight and specific. MicroStrategy's next filing will indicate whether the accumulation signal is backed by actual capacity.
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