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GM!
Today’s most important news:
- Most crypto companies are flat, HYPE leads; Bitcoin fell 1.3% to $58.9 thousand
- Strategic stock jumps 13% after Saylor rolls out digital credit capital framework
- The Supreme Court ruled that Trump can fire the heads of the SEC and CFTC at will
- JPMorgan pivotally supports Clarity Law, odds rise to 49%
- ANSEM shares soared 100% to $160 million, igniting the SOL meme market
₿The strategy fixes its model and gives itself permission to sell Bitcoin
The strategy has officially ended the “never sell” era.
Confronting a stock that has fallen below its value BitcoinMichael Saylor’s firm unveiled a new comprehensive capital framework that allows it to sell Bitcoin, buy back its affected shares, and support its preferred stocks.
📌 what happened?
strategy Adopting the “Digital Credit Capital Framework” Which is working to reform the financing model behind Bitcoin betting. The main change is a $1.25 billion Bitcoin monetization program, giving the company official permission to sell Bitcoin to build cash, fund dividends and cover interest. It also authorized $2 billion in buybacks, divided equally between common stock and preferred stock, to be deployed during market turmoil without touching its cash reserves.
Strategy also:
- The company raised the dividend on its STRC preferred stock to 12% effective July
- Establish a policy of holding at least 12 months of dividend and interest coverage in cash (now $2.55 billion or about 17 months) and
- It said it would stop issuing common stock to buy bitcoin when its shares trade near the value of its holdings.
MSTR stock jumped about 13% on the news, its biggest day in four months. STRC stock rose 12%, and Bitcoin briefly regained $60,000 before giving up its gains overnight.
🗣️ What are they saying?
CEO Phuong Lo framed it as a move from primarily issuing capital to “actively managing the capital structure through issuance and buybacks,” depending on circumstances.
Saylor said the framework aims to strengthen Strategy’s credit profile while maintaining Bitcoin as its primary reserve asset.
Critics have been pushing for exactly this, with Grayscale’s head of research arguing days ago that the strategy must sell at least $3 billion worth of Bitcoin to cover near-term liabilities.
🧠 Why it matters
This new frame is a real hub. Selling Bitcoin to fund the dividend, buying back discounted shares, and pausing the issuance when the premium expires is active management. It is a sharp shift from being a permanent accumulation.
The market rejoiced because 1) it raised another $1.2 billion in cash, now at $2.55 billion, and 2) it puts shareholders and the credit stack at the forefront of relentless Bitcoin buying. But the trade-off is real: Bitcoin’s largest buyer is now also a potential seller, removing a pillar of demand at a fragile moment.
So where does this leave us? Soon the odds of Saylor exploding at any time dropped to zero. It’s up to 17 months of dividend payments, and given the short-term rise in the MSTR price, Saylor will likely sell more MSTR this week. So expect a bigger cash cushion in July. This should be good for Bitcoin (or at least not bad) and remove the backlog.
In the long term, this is difficult to predict. Saylor still needs the price of Bitcoin to rise over time for his model to work. If BTC enters a multi-year downtrend, it could still be in trouble. But if the four-year cycle returns again as it has the past several cycles, he will likely weather the storm.
We’ll know a lot more over the next 6 to 12 months…
🌎 Total crypto and markets
- Cryptocurrency specializations are mixed with the leading HYPE; Bitcoin -1.3% at $58.9K; ETH even at $1,570; SOL +1% at $73; HYPE +4% at $65.20
- What (+11%) ADI (+9%) and SKY (+7%) led the top movers
- oil Even at $70; Gold is even at $4,040
- Stock futures They are a little green before the close of the quarter; Dow Jones +0.1%, Nasdaq +0.2%
- supreme court Ruled that Trump can fire the commissioners of the SEC and CFTC at willoverturning a 91-year-old precedent and giving the president direct control over the two agencies that regulate cryptocurrencies at a crucial moment for the legislation.
- The white house Speaks to law enforcement about concerns related to the CLARITY ActAccording to one report, concerns persist that developer protections in the bill could be exploited for illicit financing
- JP Morgan Support the law of clarity In a major focus, but he warned that the new rules must fill regulatory gaps
- Galaxy Digital Reduced the odds of passing the CLARITY Act In 2026 to 50%, due to the narrowing of the legislative window and growing opposition to the draft law on the structure of the cryptocurrency market.
- Bank of New York It added USDC to its custody platformand expanding the bank’s digital asset services to meet the growing institutional demand for stablecoin custody
- JPMorgan report It highlighted a decline in institutional interest in cryptocurrency futureswhich found that the big players remained largely on the fringes of the product at the heart of the CME-CFTC battle
- Vitalik Buterin Highlight the importance of obfuscation in cryptocurrenciesreferring to it as an essential tool that can unlock powerful new privacy and functionality for onchain applications
Corporate Treasuries and ETFs
Meme Coin Tracker
- Meme leaders He was Mostly red. Doge -2%, Shape Up%, Baby -1%, Bingo -2%, Trump -1%, Punk -1%
- TJR (+38x), ANSEM (+40%) The LUKE (+27x) led movers on Solana
- Prime movers Included FAI (+23%) and REI (+13%)
📈 Countless numbers in the market today
💰 Token tracking, airdrop and protocol
🚚 What happens in NFTs?
- NFT leaders She was a little red. BANK -3% at 31.5 ETH, BAYC -1% at 8.825 ETH, Pudgy -1% at 4.45 ETH; Hypurr’s -1% at 225 HYPE
- Normis (+13%) and R3order (+20%) Leading top movers
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