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Michael Saylor says he is revolutionizing crypto with his new STRC product. But is he? Because Strategy has now entered a new phase of its Bitcoin accumulation…

Charles Schwab has now officially joined the crypto trading game and is offering BTC and ETH spot trading. That has not stopped ETFs from selling the rally though.

Plus, pre-market movers. Earnings. FDA calendars. Analyst upgrades. Insider activity. Options flow. Why stocks are moving and whether the volume is real. Benzinga Pro members get all of it in one place. Try it free today.

TOP STORY

How Far Can Michael Saylor 'Stretch' It? Strategy’s Bitcoin Machine Enters A New Phase

Strategy has shifted its entire Bitcoin accumulation engine to STRC preferred stock — and the math is getting harder.

With MSTR's EV-based mNAV compressed to roughly 1.24x, the common stock premium that powered early purchases has narrowed, pushing the company toward yield-hungry investors willing to underwrite an 11.5% annual dividend instead.

The bull case is self-reinforcing: Bitcoin rises, MSTR holds its NAV premium, STRC issuance funds more BTC, repeat.

The risk case is a prolonged Bitcoin sideways chop…

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Pre-market movers. Earnings. FDA calendars. Analyst upgrades. Insider activity. Options flow. Why stocks are moving and whether the volume is real.

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QUICK N DIRTY

Bitcoin, Ethereum, XRP are hurting as the bear market rally seems to have ground to a halt: here’s what else is driving markets today.

Bitcoin in particular has one glaring problem: its rally beyond $80,000 is not build on a solid foundation.

XRP yesterday overtook Bitcoin and Ethereum in South Korea in trading volume: is that bullish or bearish?

FINTECH FOCUS

Charles Schwab Rolls Out Bitcoin, Ethereum Trading As ETF Outflows Hit $233 Million

Charles Schwab went live with spot Bitcoin $BTC and Ethereum $ETH trading for select retail clients — bringing $11.77 trillion in client assets and 39.1 million brokerage accounts into direct crypto exposure at 75 basis points per trade.

The timing is pointed: spot Bitcoin ETFs saw $233 million in net outflows the same day, led by BlackRock's IBIT at -$33 million and Fidelity's FBTC at -$86 million, while Ethereum ETFs bled $130 million with BlackRock's $ETHA alone shedding -$102 million.

The question the market is asking: is retail rotating out of ETF wrappers and into direct spot exposure through traditional brokerages?

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