Morning Minute is a daily newsletter written by Tyler Warner.
The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt
And check out our new daily news show covering all of the top stories in 5 minutes, downloadable on Apple Pod or Spotify. GM! Today’s top news: – Crypto majors fall 1-2% as BTC goes sub-$60k before rebounding – Micron stock jumps 19% pre-market after massive earnings beat, lifts markets – MSTR and STRC fall to new 1-year lows as Saylor concerns grow – Kalshi seeks $40B valuation in latest raise, pacing to $25B+ in volume this month – Brian Armstrong hints at more acquisitions for Coinbase following Deribit deal 📉 Strategy’s MSTR and STRC Crash to 52-Week Lows Strategy’s common stock and its preferred shares both cratered to 52-week lows on Wednesday.
The treasury model Michael Saylor built is being stress-tested in real time. MSTR fell 9.35% to $94.13, touching a 52-week low of $92.28 intraday, a staggering fall from its 52-week high of $457.22. STRC, the dividend-paying preferred share Saylor has leaned on to fund Bitcoin purchases, dropped 7.41% to $80.84, also a 52-week low and now well below its $100 par value.