Latest news with #'sStrategy
Yahoo
4 days ago
- Business
- Yahoo
Trump Media Has $2.3B in Bitcoin Buying Power After Closing Capital Raise
Trump Media and Technology Group (DJT), the operator of Truth Social, said on Friday it has closed a $2.44 billion fundraising deal to establish a bitcoin BTC treasury. DJT shares erased early morning losses and were up 5.6% on the day following the news. The company sold nearly 56 million shares at $25.72 apiece and issued $1 billion in 0% convertible notes maturing in 2028, according to a press release. Some 50 institutional investors subscribed to the offering. The placement was led by Yorkville Securities and Clear Street, with Cantor Fitzgerald serving as financial advisor. The firm said it will direct the net proceeds of $2.32 billion to purchase BTC for its treasury, with and Anchorage Digital providing custody services. The move adds the company to a growing list of publicly-traded firms that have raised capital for adding crypto assets like bitcoin to their balance sheet, a playbook pioneered by Michael Saylor's Strategy (MSTR). The software firm has become the world's largest corporate holder of the leading crypto asset, accumulating over $60 billion in BTC by financing the purchases via a combination of equity and debt issuances. Trump Media shared plans earlier this year to launch a financial services platform focusing on crypto and customized exchange-traded funds. It also said it wants to partner with crypto exchange to launch the ETF products.
Yahoo
5 days ago
- Business
- Yahoo
Pantera Reveals Its Bets on Stocks That Adopted ‘Digital Asset Treasury' Strategy
Crypto investment firm Pantera Capital revealed a series of concentrated bets on a growing class of publicly-traded companies holding large digital asset reserves on Thursday. Among Pantera's portfolio is Twenty One Capital (CEP), a Bitcoin-focused treasury firm led by Jack Mallers and backed by Tether, Softbank and Cantor Fitzgerald, according to a note by general partner Cosmo Jiang. The firm also disclosed it is an early backer of DeFi Development Corp (DFDV), which applies the model to Solana SOL, and Sharplink Gaming (SBET), the Ethereum ETH treasury play supported by Ethereum software firm ConsenSys, per the note. This investment push signals Pantera's broader belief that traditional financial structures are increasingly viable pathways into digital assets, even as spot-based exchange-traded funds (ETF) and other regulated products expand. These firms —what Pantera calls Digital Asset Treasury companies, or DATs — seek to offer crypto exposure to equity market investors without requiring direct ownership of tokens, a play spearheaded by Michael Saylor's Strategy (MSTR). These stocks unlock crypto access for investors still wary of managing wallets or trading on crypto exchanges, Jiang argued. The companies function as closed-end funds on public markets, potentially limiting supply of the underlying assets — Bitcoin, Solana or Ethereum — and affecting price dynamics over time, he said. The note argued that under the right conditions — market volatility, financial engineering, and smart management — these companies can grow their token-per-share metrics faster than the tokens themselves appreciate, potentially offering more upside than direct crypto purchases. However, as the market is getting increasingly saturated with these offerings, a few analysts raised concerns about the long-term upside of these stocks: MSTR, for example, underperformed while bitcoin rose to fresh record highs this month, 10x Research in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
6 days ago
- Business
- Yahoo
GameStop makes heads turn with surprising treasury move
GameStop (NYSE: GME), the American gaming merchandise retailer, made a surprising move by acquiring 4,710 Bitcoin to add to its corporate balance sheet on May 28. It was exactly two months earlier that the gaming company announced on March 28 that it had realigned its investment policy to hold certain cryptocurrency assets, including Bitcoin and U.S. dollar–pegged stablecoins. The move was widely understood to be an imitation of the Bitcoin acquisition playbook of Michael Saylor's Strategy (Nasdaq: MSTR), formerly MicroStrategy. Following the announcement of its first Bitcoin acquisition, the GME stock immediately jumped 7% and was exchanging hands at $36.67 in pre-market hours. In fact, the stock is up more than 68% since its March 28 announcement. Since Bitcoin was trading at $108,897.86 at the time of writing as per Kraken's price feed, GameStop holds $512.9 million in BTC on its balance sheet. However, the company did not specify the price at which it made the purchase. This isn't the first time that the Texas-based gaming chain has explored the possibility of expanding into the crypto industry. It launched a non-fungible token (NFT) — a type of digital asset that represents proof of ownership of a unique item, such as art, collectibles, media, etc. — marketplace in July 2022 but wound down the operations in February 2024 due to turbulence in the digital asset market. Earlier, GameStop reported net income of $131.3 million for the fiscal year 2024, up from $6.7 million the previous year, even as net sales declined from $5.27 billion to $3.82 billion. GameStop makes heads turn with surprising treasury move first appeared on TheStreet on May 28, 2025
Bloomberg
18-02-2025
- Business
- Bloomberg
Saylor's Strategy to Raise Another $2 Billion for Bitcoin
Michael Saylor's Strategy plans to offer $2 billion of convertible debt in a private offering, extending the self-styled Bitcoin treasury company's unconventional fundraising strategy. The firm, which until recently was called MicroStrategy Inc., intends to sell the senior notes due 2030 with a 0% coupon, according to a statement on Tuesday. The offering's proceeds will be used for purposes including acquiring more Bitcoin.
