News linked to both this project and an event.
At the Q1 2026 earnings call, Michael Saylor stated that the company may sell some of its Bitcoin in the future to fulfill dividend payment obligations. Currently, Strategy’s annual dividend and debt interest obligations total approximately $1.5 billion; based on its current U.S. dollar reserves, this amount is estimated to cover roughly the next 18 months. Saylor summarized this model as: “Buy Bitcoin using credit financing, wait for its appreciation, then sell a portion of the Bitcoin to pay dividends.”
According to GlobeNewswire, Applied Digital—a Bitcoin mining hosting and cloud services company—announced a $300 million senior secured bridge financing facility led by Goldman Sachs to advance the construction of its AI data center projects. The financing is secured against project assets, is repayable at any time without penalty, and the company plans to pursue additional long-term financing in the future to support the development and construction of its AI data centers.
: According to market sources, Strategy has paused its Bitcoin accumulation while raising approximately $82 million through stock issuance. Its total Bitcoin holdings remain at 818,334 BTC.Analysts believe that despite the short-term pause in accumulation, Strategy continues to secure funding through capital markets, providing financial support for its long-term Bitcoin reserve strategy. This fundraising primarily relies on equity sale arrangements rather than debt expansion. The market is widely watching Strategy's first phased halt after consecutive rounds of accumulation, which may reflect a more flexible capital allocation strategy within the current price range. However, its overarching "Bitcoin balance sheet" strategy remains unchanged.
Hut 8 announced its subsidiary has entered into a $200 million, 364-day bitcoin-backed credit agreement with FalconX to replace the previous financing arrangement from Coinbase Credit. The new financing carries an annualized fixed interest rate of 7.0%, a reduction of 200 basis points from the previous 9.0% rate on the Coinbase facility. During the period from December 2023 to March 2025, this financing cost had reached as high as 10.5%–11.5%, meaning cumulative reductions of up to 450 basis points, demonstrating continued progress in optimizing debt costs.Following this refinancing, approximately 3,300 BTC held by Hut 8 have been converted to an unencumbered state, valued at approximately $260 million based on market capitalization as of May 1, 2026. This significantly enhances the flexibility and liquidity capacity of its balance sheet. Additionally, the credit structure maintains key risk control provisions, including a limited recourse structure, a no-rehypothecation clause, and a fixed LTV threshold design to avoid triggering additional margin calls in the event of a decline in bitcoin prices.Hut 8 management stated that this financing not only reduces capital costs but also releases more unencumbered bitcoin assets, helping to enhance capital allocation flexibility across different market cycles. FalconX emphasized that this transaction reflects its growing capability in providing institutional-grade bitcoin credit solutions. (PRNewswire)
Bitcoin treasury company Capital B announced the completion of a €1.1 million financing through the issuance of warrants, with participation from Adam Back. Additionally, adjustments were made to the terms of its B-04 convertible bonds. It is reported that the conversion price of Adam Back's OCA B-04 convertible bonds has been reduced from €5.174 to €2.59 per share.
Odaily Strategy founder Michael Saylor posted on X yesterday stating that the company will suspend its routine weekly Bitcoin purchase plan this week, marking the second time this year it has paused weekly accumulation.To date, Strategy holds a total of 818,334 BTC, representing approximately 3.9% of Bitcoin's total supply. Data from Saylortracker shows that as Bitcoin staged a strong rebound today, breaking through the $80,000 mark, the total market value of BTC held by Strategy has returned to above $65 billion, currently standing at $65.74 billion. The average cost price is $75,537, with an unrealized profit of $3.926 billion.Strategy is expected to announce its Q1 earnings on Tuesday, with the market anticipating a loss per share of $18.98, higher than the loss of $16.38 per share in the same period last year. Its ongoing coin purchases are primarily financed through stock (MSTR) and perpetual preferred stock. Among these, the high-dividend product STRC (annualized yield approximately 11.5%) has raised concerns among some analysts regarding structural risks, though others argue that this model can convert yield demands into long-term Bitcoin exposure. (The Block)
: Yunfeng Financial has announced the completion of a strategic investment in cross-border payment service provider WooshPay, with the specific amount undisclosed. WooshPay is a financial infrastructure platform regulated by the UK Financial Conduct Authority and the Hong Kong Customs and Excise Department. Yunfeng Financial stated that this investment aims to expand the digital payment market and integrate its digital asset infrastructure platform AlphaToken, advancing "AI+Web3" asset tokenization and compliant settlement-related businesses. According to further disclosure, Yunfeng Financial has received approval from the Hong Kong Securities and Futures Commission to provide virtual asset trading services, supporting users in trading digital assets such as Bitcoin and Ethereum on its platform.
market分歧 has widened regarding Strategy's financing model of continuously accumulating Bitcoin through its preferred stock STRC. Benchmark analyst Mark Palmer stated in his latest report that the interpretation of the STRC model as a "circular financing or Ponzi structure" is a "serious misreading" and emphasized that the mechanism is an "intentionally designed and sustainable capital framework," with the core logic being to convert market demand for yield into long-term Bitcoin exposure.According to an SEC 8-K filing, Strategy raised approximately $3.5 billion in the first three weeks of April, with over 85% coming from STRC issuance. Subsequently, it made three consecutive purchases within the following three weeks, acquiring a total of 51,364 Bitcoins worth approximately $3.9 billion. Strategy's total Bitcoin holdings have now increased to 818,334 BTC, with a market value of around $62.5 billion, and it has recently returned to an unrealized profit of about $700 million.Benchmark believes that this structure does not rely on continuous issuance to sustain itself and could even sell a portion of its Bitcoin to pay preferred stock dividends if necessary. However, significant market skepticism remains, with some arguing that selling financed assets to pay dividends could be perceived as a risk signal, potentially triggering broader market pressure. (The Block)
during his trial testimony against OpenAI, Elon Musk stated, “Some cryptocurrency has value, but most of it is a scam.” The remarks came during cross-examination at the Oakland, California court, where the case involved OpenAI’s early consideration of raising funds through an ICO (Initial Coin Offering).According to reports, Musk’s response to relevant questions during the trial pointed to widespread speculation and fraudulent activities in the crypto asset space, drawing market attention.Notably, Musk’s stance on the crypto market has long shown significant volatility: during the 2021 bull market, he pushed Tesla to purchase approximately $1.5 billion worth of Bitcoin and publicly mentioned Dogecoin on multiple occasions, driving substantial price surges for related assets. However, Tesla reduced its Bitcoin holdings by 75% in 2022 and booked an impairment loss of approximately $222 million on its remaining holdings in the first quarter of 2026. According to the latest financial report, it still holds approximately 11,509 Bitcoins, with a book value of around $786 million. (Fortune)
According to Businesswire, Bitcoin treasury company TwentyOne Capital has updated its corporate strategy, aiming to integrate Bitcoin reserves, mining operations, financial services, and capital markets activities through mergers and acquisitions. Specific initiatives include: - Financial services and distribution, covering licenses, compliance, custody, technology, and institutional and retail client bases; - Bitcoin infrastructure, involving low-cost, high-hashrate Bitcoin mining to continuously expand Bitcoin reserves; - Capital markets strategy, securitizing loan portfolios and mining revenue and supporting non-dilutive leveraged financing of BTC reserves with operating cash flow; - Acquiring value-accretive Bitcoin companies, using ongoing cash flow to continuously accumulate Bitcoin.
According to Forbes, Eric Trump, the second son of Donald Trump, promoted his Bitcoin company American Bitcoin as a “money-printing machine,” but it is in fact an arbitrage tool exploiting MAGA investors’ sentiment. The company attracted investors through exaggerated marketing, leveraged the premium associated with the Trump brand to issue shares at inflated valuations, raised cash, and then used the proceeds to purchase Bitcoin—while ordinary investors suffered heavy losses. Since its listing in September, the company has sold approximately 158 million shares, raising roughly $351 million, and used those funds to buy approximately $390 million worth of Bitcoin. The company claims its mining cost is around $58,000 per Bitcoin, but when equipment depreciation and other expenses are included, its total cost per Bitcoin reaches approximately $90,000—higher than Bitcoin’s current market price. The company faces risks from its mining-rig financing agreements: if Bitcoin’s price does not rebound, all the Bitcoin it mines may be used to repay equipment vendors. The company employs only two full-time staff members; its stock price has plunged 92% from its peak, and investor losses are estimated at around $500 million. Eric Trump’s personal wealth increased from approximately $190 million to $280 million. In response, Eric Trump posted on X, calling Forbes “a political weapon and a disgrace to journalism.” He stated that American Bitcoin was founded just over a year ago and has been publicly listed for 7 months and 25 days. It currently holds over 7,000 Bitcoins, ranks as the world’s 16th-largest publicly traded Bitcoin company, and operates nearly 90,000 mining rigs.
Odaily Odaily News According to the latest weekly report from Gate Ventures, there are signs of a staged recovery at the macro level. While major stock indices showed divergent performance, the overall trend was upward, and market risk appetite has somewhat improved. Against this backdrop, the crypto market rebounded in tandem, with BTC rising by 6.6% and ETH by 4.7%. They also recorded net spot ETF inflows of approximately $823.7 million and $155 million respectively, indicating a strengthening return of capital. The total market capitalization increased by 5.2%, while the market cap excluding BTC and ETH grew by 2.6%, suggesting that upward momentum is beginning to spread to a broader range of assets, albeit at a relatively moderate pace.In terms of asset and sector dynamics, structural opportunities continue to emerge. The top 30 assets averaged a 4.2% increase. Meanwhile, advancements at the on-chain and industry levels are persisting, including ongoing developments in digital currency infrastructure and asset tokenization. Regarding investment and financing, 12 transactions were completed last week, with a total disclosed financing amount of approximately $54.89 million, representing a month-over-month increase of about 31%. Capital primarily flowed into DeFi and infrastructure sectors. Notably, JPYC secured $17.62 million in funding to advance the infrastructure development of its yen-backed stablecoin. 3F completed a $4 million seed funding round, with participants including Gate Ventures. Against the backdrop of a marginally improving macro environment, investment and financing activity has picked up, with capital still focusing on long-term application scenarios and foundational capability building amidst volatile conditions.
BIT has released a chart stating that the cumulative acquisition cost of Bitcoin currently held by Strategy (formerly MicroStrategy) is approximately $62 billion. Even though Bitcoin has been in a consolidation phase over the past two quarters, the company has continued to raise funds through capital markets and used the proceeds to increase its BTC holdings.Historically, the correlation between Strategy's stock price and Bitcoin's price has been relatively tight. During bull markets, Strategy's stock price is more sensitive to changes in Bitcoin's price, showing greater upward elasticity and often delivering more prominent relative performance. However, when market momentum weakens, the stock price can sometimes weaken earlier than Bitcoin.Currently, there is a certain divergence in the performance of Strategy and Bitcoin. If historical patterns still apply, such divergence is worth continuous attention. Should the two converge again in the future, it could imply an improvement in Strategy's relative performance compared to Bitcoin, but this change remains dependent on the overall market environment.
According to Decrypt, Bitcoin treasury company Strategy purchased only 3,273 BTC last week—down approximately 91% from the previous week’s acquisition of 34,164 BTC for $2.54 billion. Analysts attribute this slowdown in buying pace to cooling market sentiment surrounding Strategy’s perpetual preferred shares (STRC). STRC had previously driven Strategy to execute its largest BTC purchase in nearly 16 months, fueled by an 11.5% monthly dividend. However, since the ex-dividend date on April 14, STRC’s price has persistently traded below its $100 target range, prompting Strategy to issue 1.4 million common shares for fundraising last week. Notably, Michael Saylor has announced plans to adjust STRC’s dividend distribution frequency to biweekly, aiming to mitigate cyclical fluctuations in the company’s BTC acquisition rhythm.
Fu Peng, Chief Economist of Xinhuo Group, posted on X stating that commodity ETFs are essentially regulatory-compliant products packaging the business model of “holding commodities long-term and generating rental income continuously.” Fund companies focus not on the commodity market’s outlook but rather on the asset’s ability to generate “rent” consistently. Since BitMEX launched the world’s first BTC perpetual contract and introduced the funding rate mechanism on May 13, 2016, long-term BTC holders have been able to earn rental income through hedging operations—transforming BTC from a pure faith-based speculative asset into a “rental asset” with stable positive cash flow logic. The costs paid by retail participants when trading derivatives constitute the foundation for large-position holders’ risk-free hedging rental income. This income is then packaged into ETF-like products sold to liquidity providers (LPs), whose raised capital is subsequently used to purchase Bitcoin—creating a virtuous cycle that reduces volatility and reinforces BTC’s income-generating attributes.
According to CoinDesk, SpaceX is expected to go public in June and could surpass Saudi Aramco’s $29 billion IPO in 2019 to become the largest IPO in history. Meanwhile, OpenAI and Anthropic are also planning to go public in the second half of this year. Collectively, these three companies are projected to raise over $240 billion—potentially marking a pivotal turning point for liquidity in the crypto market. Market analysts believe these mega-IPOs could significantly drain liquidity from risk assets, with the crypto market sitting in the same funding pool. As mainstream crypto assets such as Bitcoin and Ethereum have closely tracked the Nasdaq and U.S. equity risk sentiment in recent years, a large-scale shift of capital toward subscribing to tech giants’ IPOs may weaken buying support for BTC, ETH, and altcoins.
Odaily Odaily Planet Daily reports that investors including Pantera Capital Management are pushing UK Bitcoin reserve company Satsuma to sell its $50 million Bitcoin reserve. In August 2025, Satsuma shifted to an "AI-driven" Bitcoin reserve strategy, successfully raising £164 million (approximately $221 million) through convertible loan notes. The round was led by ParaFi Capital, with participation from Pantera, Digital Currency Group (DCG), Kraken, Arrington Capital, and others.It is reported that Satsuma confirmed that some shareholders have "demanded a return of capital," but did not disclose the specific identities of those shareholders. In an email statement, Satsuma's Executive Chairman Ranald McGregor-Smith said the company is exploring options to facilitate these requests while protecting the interests of all shareholders. (The Block)
Odaily News New Fire Technology (1611.HK) announced on April 22 that it will acquire the investment team and trading system of Li Lin's family office, Avenir Group, for $1.6 million. Following the acquisition, New Fire Technology plans to launch a Bitcoin-denominated asset management service named Alpha BTC, aiming to attract investments exceeding 10,000 Bitcoins within a year, valued at approximately $760 million. The strategy will generate returns through derivative trading such as options, using Bitcoin or the IBIT ETF as underlying assets. Target clients include crypto-native investors and local Hong Kong enterprises. As of the end of 2025, Avenir Group held 18.3 million shares of BlackRock iShares Bitcoin Trust, valued at $908 million.
Odaily News Keel Infrastructure and Hive Digital Technologies saw their stock prices rise on April 22. Keel completed the sale of its Paso Pe mining facility in Paraguay, securing $13 million in funds, with the aim of fully exiting the Bitcoin mining business and shifting its focus to high-performance computing and AI development in North America. Hive Digital Technologies completed a $115 million private placement, with the funds to be used for purchasing GPUs and developing data centers. The stock prices of the two companies have risen by over 40% and 31% respectively in the past month. Additionally, Core Scientific announced plans to issue $3.3 billion in high-yield bonds to fund its transition to AI infrastructure.
Yi Lihua, founder of Liquid Capital (formerly LD Capital), stated that the current cryptocurrency market rally is still ongoing. However, compared to the U.S. stock market’s S&P 500 hitting new highs and MicroStrategy’s continued aggressive Bitcoin purchases, this Bitcoin rally is relatively weak overall and exhibits clear characteristics of a bear-market rebound. He noted that his team has recently focused on analyzing MicroStrategy’s risks, concluding that its strategy of aggressively raising funds to continuously buy Bitcoin may be effective in the short term but poses medium-term risks—especially amid broader macro-financial risks. JackYi also said the team is preparing for potentially major opportunities, adding that such opportunities in the crypto space often emerge during bear markets.