The third-quarter U.S. earnings season is kicking off today, with results from Goldman Sachs, JPMorgan, and UnitedHealthcare, among others. The key September CPI report comes tomorrow.
Formerly a bitcoin miner, but now in the data center business, Cipher Digital is selling $850 million of 2032 convertible debt, with a 0% coupon.
Led by Matt Cole, Strive added a whopping 3,311 bitcoin last week, bringing holdings to 32,773 coins.
The funds for the purchase — roughly $275 million — came from sales of the company’s preferred stock SATA as well as cash coming in from the exercise of warrants (for the common stock).
ASST has sold off nearly 10% in recent days, in part due to those warrant exercises. Shares are flat in pre-market trading on Tuesday.
“I transferred the stock that was sitting in DTCC, and now it's sitting on some blockchain, whatever it is, doesn't really matter,” said longtime crypto veteran Arthur Hayes.
Better bookkeeping? Wonderful, said Hayes, “but where are you actually going to make money in tokenization … I think that has been the issue with this narrative for a long time.”
Not averse to participating in a bull run, though, Hayes concluded, “if the standard bearer of contrarian thinking for Wall Street Muppets says it's time to buy some tokens, then you buy the fucking tokens.”
A burst of stop-loss selling knocked bitcoin to $81,000 early Tuesday, dragging it back to its 50-day moving average before buyers lifted it to about $83,700.
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