Morning Minute: Saylor Gains Access to Another $44B to Buy Bitcoin

Morning Minute is simply a regular newsletter written by Tyler Warner. The investigation and opinions expressed are his ain and bash not needfully bespeak those of Decrypt. And check retired our caller regular quality amusement covering each of the apical stories successful 5 minutes oregon less, downloadable connected Apple Pod oregon Spotify.

GM!

Today’s apical news:

• Crypto majors grind higher, SOL leads; BTC +1% astatine $71k

• Saylor gets entree to different $42B+ successful MSTR and STRC ATM programs

• Congressmen present bipartisan measure banning sports betting successful pred markets

• Polymarket introduces referral programme and caller interest structure

• Elizabeth Warren comes aft Mr. Beast’s caller banking app and imaginable crypto necktie in

Strategy said it tin present contented $44 cardinal successful further equity to money aboriginal Bitcoin purchases, divided crossed $21 cardinal of communal banal (MSTR), $21 cardinal of STRC, and $2.1 cardinal of STRK.

The determination is designed to support feeding Strategy’s Bitcoin-buying machine, adjacent arsenic the gait of purchases concisely slowed.

Strategy Unveils $44 Billion Plan to Buy More Bitcoin, Driven By MSTR and STRC Shares

Notably, STRC accounts for astir fractional of the full authorization. The institution precocious boosted STRC’s monthly dividend to 11.5%, starring to a spike successful request that helped substance Saylor’s ample buys earlier this month.

Bitcoin did not respond to the news, holding astatine $70,500 connected the day.

Key Details

• Strategy tin contented $44B successful caller equity.
• The authorization includes $21B MSTR, $21B STRC, and $2.1B STRK.
• STRC has enabled Strategy to rise much than $1.5B this month.

The Wall Street Journal reported that lawmakers are preparing a bipartisan measure to prohibition sports betting connected prediction marketplace platforms.

That would straight people 1 of the fastest-growing usage cases for firms similar Kalshi and Polymarket, some of which person pushed aggressively into sports-related markets.

For discourse of however large this is, Kalshi's play sports measurement makes up 70-85% of its full grip and Polymarket's sports measurement is 35-40% of its total.

And the timing is notable, with Kalshi caller disconnected the quality of its latest $22B fundraise.

State gaming regulators reason these products are sports betting and should beryllium treated similar gambling. The platforms reason they are federally regulated lawsuit contracts and beryllium nether derivatives oversight instead.

Congress present appears acceptable to trial that question straight with legislation.

Key Details

• WSJ reported the measure would beryllium bipartisan and would people sports bets connected prediction markets, not the full category.
• Kalshi’s sports measurement makes up 70-85% of its full measurement crossed platforms.
• The timing is notable due to the fact that prediction markets person conscionable had a large momentum streak, with ample caller partnerships, rising volumes, and caller private-market funding.