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  • 🐳 Daily Edition: MicroStrategy Announces a New Stock?

🐳 Daily Edition: MicroStrategy Announces a New Stock?

Michael Saylor continues to buy more Bitcoin as Ethereum's leadership steers the ship in a new direction

After US trading hours today, Michael Saylor’s Strategy announced they will be launching a new ticker, STRD. This new investment vehicle is a ā€œperpetual preferred stock offeringā€ and promises to deliver 10% in dividends every year, open to institutional investors and a select few non-institutions. The proceeds from the sale of STRD will go to fund more BTC purchasing operations, a model which has become quite the trend among companies struggling to make it on their existing businesses. With all the copy cats popping up, it seems Saylor is looking to make a statement of Stategy’s ā€œbluechipā€ status among the imitators.

24 Hour Heatmap, Source: CoinMarketCap

It also seems the sentiment is flipping hard for Ethereum, which has shown relative strength through the dump on Bitcoin and the alt market over the last week. Last week, co-founder Vitalik Buterin said at ETHGlobal Prague that he aims to scale the Layer 1 by a factor of 10x over the next year. Simple messaging like this may not sound like much, but it’s a huge pivot from the complex (and frankly tone-deaf) public relations that the Ethereum Foundation conducted until now. You may not know it by looking at the price chart, but the Ethereum ecosystem has actually done quite well over the last two years. About 90% of all total-value-locked (TVL) is on Ethereum or its L2’s, massive TradFi institutions are actively building their own L2 networks, and Ethereum mainnet alone houses almost 60% of all tokenized Real World Assets (RWAs). All it takes is the right messaging, and it seems the Ethereum Foundation is finally headed in the right direction on that front.

Gwart is back with another banger after infamous trader James Wynn complains his liquidations on 40x leverage are due to the ā€œcabalā€ hunting him.

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Disclaimer

The content on this site is for informational purposes only and should not be construed as investment advice. While Beluga strives to ensure the accuracy and timeliness of information, there may be discrepancies when comparing our data to that of financial institutions, service providers, or specific product websites. Always consult with a professional before making any financial decisions. Will McKinnon is the Head of Content for Beluga and has spent every day for many years trading coins. For that reason there are too many to name, however his largest holdings by a significant margin are Ethereum and Bitcoin. NFA DYOR