August 3: Strategy Sells More Bitcoin
Strategy sold another 1,638 Bitcoin for roughly $105 million, while also raising about $290 million through common stock sales and maintaining billions in cash to cover preferred dividends. Matt questions whether the company’s Bitcoin treasury model can remain sustainable when its holdings do not generate operating cash flow and the business must keep raising money or selling Bitcoin to meet its obligations.
The episode also covers BitGo’s new institutional account-management platform, Ripple’s investment in tokenized finance infrastructure, Robinhood receiving UK crypto registration, Bitget…
The skinny
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