The three main crypto stocks that I watch are all a bit sluggish in the premarket trading hours of Thursday, as the crypto markets themselves seem unlikely to be positive in the short term.
Paul Singer is not afraid to play contrarian. The billionaire investor is known for his activist positions and even took on the Argentinian government for 15 years until it made debt payments on government bonds, resulting in billions for Singer's fund Elliott Investment Management.
Rennick Palley believes a Federally-backed crypto reserve will offer Bitcoin much more room to run. He says that upside won't come without cutbacks, including a fade in Bitcoin that can temporarily send it back to $70,000.
MSTR has declined due to Bitcoin's price drop and a contracting Bitcoin premium. Bitcoin's price is expected to rise, driven by improved liquidity and the creation of a crypto strategic reserve. MSTR's Bitcoin premium will likely expand as Bitcoin's price increases, potentially doubling MSTR's value from current levels.
We tracked five new preferred stock and exchange-traded debt offerings with yields ranging from 7.625% to 9.875%. New offerings include Redwood Trust, Triton International, MicroStrategy, PennyMac Mortgage Investment Trust, and Rithm Property Trust, each with unique terms and yields. Investors can buy newly introduced preferred stock shares at wholesale prices on the OTC, minimizing capital loss risk.
The company and bitcoin play saw its stock bounce off a key support area, with Trump's help, but then ran right into heavy technical resistance.
Bitcoin got a boost Sunday from President Donald Trump, who announced plans for a U.S. strategic crypto reserve.
The meme stock phenomenon is resurfacing in the stock market, with companies like Mara Holdings NASDAQ: MARA, MicroStrategy NASDAQ: MSTR, and AMC Entertainment NYSE: AMC experiencing significant price swings and trading volume. This volatility is driven by the collective online activity of retail investors rather than traditional financial metrics.
The California State Teachers' Retirement System bought more MicroStrategy and Nu Holdings stock, and slashed positions in Dollar General and Celsius Holdings in the fourth quarter.
Shares of Strategy (MSTR 6.59%) stock -- formerly MicroStrategy -- sank around 15% this week, according to data from S&P Global Market Intelligence. The Bitcoin investment company sank along with the price of Bitcoin this week as it ramps up its convertible notes and debt offerings to help fuel more Bitcoin purchases.
The US stock market continues to see a lot of noisy behavior, as the market will be looking at the recent earnings calls, and of course the overall global economic concerns.
As the largest corporate holder of Bitcoin, the stock's direction is largely tied to that of the cryptocurrency