New framework gives common shareholders a clearer view of net bitcoin exposure after preferred stock and convertible debt obligations
- Strategy’s net reserve stands at $36.6 billion after subtracting $6.8 billion of out-of-the-money convertible debt and $15.5 billion of preferred stock from its bitcoin and cash reserves.
- The revised mNAV permanently sets the equity issuance threshold at 1.0x, while a 3.22% BTC breakeven ARR would allow bitcoin gains to cover interest and preferred dividend obligations indefinitely.
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Beyond the Risk-Free Rate: Diversified Real World Yield in Productive Stablecoins
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Why it matters :
Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%. GENIUS pushes yield off-chain; TAM grows to $4B in 3 years.
Crypto under weekend pressure, bitcoin slides below $80,000 on U.S. Middle East evacuations
Franklin Templeton adds $150 million in fund shares to XRP Ledger, all in one wallet
Robinhood sees surge in bitcoin, gold prediction markets as traders move beyond sports
Original sourceCoinDesk
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