Morning Minute: Saylor Sells Bitcoin Again

₿ Strategy Sells $105M in Bitcoin to Prop Up Its Own Preferred Stock

Of the proceeds, $52.4 million funded dividends on Strategy’s preferred stock, and $52.3 million went toward an $81 million buyback of its STRC preferred shares, the second such repurchase in two weeks under a $1 billion program. The rest of the funds went to cash reserves, now up to $4 billion and what the company calls 2.3 years of runway.

Additionally, Saylor’s messaging has shifted completely from the “never sell” era. In fact, he even came out and said yesterday that “When I say ‘Never Sell Your Bitcoin,’ I speak as one saver to another. I have never sold mine.” That, of course, is a pivot from earlier messaging where he went as far to say, “Sell a kidney if you must. But keep the Bitcoin.” Again, not great.

Macro Crypto and Markets Crypto majors are green; BTC +2% at $63.8k; ETH +2% at $1,870; SOL +2% at $73.90; HYPE +5% at $55.50 Top alt movers include ATOM (+8%), PUMP (+6%) and AVAX (+6%) Oil even at $79.50; Gold +0.6% at $4,115 Stock futures are green on new earnings beats; DOW +0.7%, Nasdaq +0.9% Solana's fee-burn and disinflation proposals entered an initial vote on Monday, a pair that would double annual disinflation to 30%, cut emissions by $1.36B over six years, and raise daily burns from 650 SOL (~$47K) to 9,000 SOL (~$646K) BlackRock launched tokenized money market funds on Solana and Ethereum, a new vehicle for stablecoin reserves that records ownership onchain via Securitize while investing entirely in cash and short-term Treasurys The Coinbase BTC Premium Index just set a record for longest negative streak at 78 days, indicating a long lack of buy pressure from U.S. retail Telegram was briefly removed from the Apple App store, causing the GRAM token to briefly sell off by 10% (now down 1%) A former FBI counterintelligence agent was charged with stealing ~$1 million in crypto from wallets tied to investigations, then asking ChatGPT how to invest it and move to Europe Corporate Treasuries & ETFs The Bitcoin ETFs saw $170M in net inflows on Monday; the ETH ETFs saw $12M in outflows Tom Lee's BitMine bought another 10,399 ETH, lifting its stash to nearly 5.8 million ETH, about 4.8% of supply, and repurchased 4.5 million of its own shares Meme Coin Tracker Meme leaders were green; DOGE +2%, SHIB +4%, PEPE +2%, PENGU +1%, TRUMP +2%, BONK even Robinhood chain was led by Cashcat (+43%), Tendies (+54%) and Frong (+25%); Stonkbroker rebounded 5% to $40M Solana leaders included DOOM (+130x), Tiktok (+115x) and OnlyMarms (+440%); CATE fell from $80M to $10M in a nasty sell off, ending the day down 30% at $30M Token, Airdrop & Protocol Tracker The Fomo app broke into the top 10 US finance apps on Apple's App Store, while also posting its biggest week with $378m in trading volume, $2M+ in fees and averaging 34k traders/day Robinhood Chain’s TVL passed $400M for the first time on Monday Pump Fun’s weekly revenue hit its highest level since March 2026, raking in $9.23M (PUMP +6%) POAP announced it’s winding down operations after 5 years, citing difficulties in maintaining profitability without “cannibalizing” its ethos What is happening in NFTs? NFT leaders were green; Punks even at 32.3 ETH, BAYC +3% at 8.41 ETH, Pudgy +1% at 3.88 ETH; Stonkbrokers -7% to 6.4 ETH Pitboys (+43%), Cashcats (+50%) and Zaibatsu (+540%) led top movers TokenWorks announced 80% buybacks for FWA using platform fees once the token goes live for trading today at 3 pm ET, using 10% of existing fees to build a team treasury, and lower fees to use the platform