$Strategy(MSTR)$ BTC.XOn MSTR's debt structure, when the price moves above the conversion price, that debt converts into stock. The debt effectively disappears. Above $240, all but $1.5b of the $6.71b converts into shares.
$Coinbase Global, Inc.(COIN)$ Up about 5.5% in premarket trading, and this is the second straight day of leading the crypto names. The SEC's tokenized stock exemption landed on Friday, and both Goldman and Citizens pointed to Coinbase as an early winner, citing its existing tokenized equity product and the institutional custody book. Bitcoin also reclaimed 81,000 over the weekend. At 205 in premarket, Coinbase is back above where it traded before the Clarity Act vote hit this group last Tuesday. The whole selloff has round-tripped in four sessions.
$Strategy(MSTR)$ Honestly, the fact that this is only down 6 percent is a good sign. Coinbase and Circle are both getting hit hard by Congress pushing the CA through.