Kevin Hassett wants Jerome Powell off the Fed board, a move that would let Trump nominate someone to one of the FOMC's 12 votes. Powell voted for the September hike Hassett says he disagreed with, so the seat is worth one dissent until other voters move.
Reality
- Evidence55
- Adoption
- Insufficient
- Hype gap+20
- Incentives70
- Confidence50
Michael Saylor explained on September 29 that Strategy pays preferred dividends from a dedicated USD Reserve because its Bitcoin produces no cash. STRC's yield therefore depends on Strategy's continued ability to sell new shares.
Reality
- Evidence35
- Adoption
- Insufficient
- Hype gap+15
- Incentives75
- Confidence40
Armada Acquisition Corp. II shareholders approved the Evernorth merger, so a 473 million XRP treasury lists on Nasdaq as XRPN on Oct. 8. Only about $300 million of the $1 billion-plus raised is cash, and investors contributed XRP directly for much of the rest.
Perspective Coverage
5 publishers
- Builder
- Builder 6%
- Operator
- Operator 20%
- Investor
- Investor 74%
Reality
- Evidence65
- Adoption45
- Hype gap+25
- Incentives65
- Confidence70
MSCI's Aug. 3 proposal to drop "non-operating companies" from its indexes would remove Strategy and Metaplanet, according to MSCI's own simulation. JPMorgan analysts put Strategy's potential outflows from benchmark-tracking funds at about $2.8 billion in 2025.
Reality
- Evidence60
- Adoption
- Insufficient
- Hype gap+15
- Incentives65
- Confidence62
Strategy kept the annualized dividend on its STRC preferred stock at 12% for October, a fourth straight month at that rate after a 9% launch in July 2025. Each dollar it raises this way to buy bitcoin now costs 12 cents a year, a third more than at launch.
Reality
- Evidence45
- Adoption
- Insufficient
- Hype gap+10
- Incentives60
- Confidence50
Smarter Web Company plans to raise £15 million to £25 million with MORE, the first preferred share from a UK corporate Bitcoin holder, pending FCA approval. How much it raises, and at what dividend, is an early check on Michael Saylor's claim that Bitcoin-backed credit issuers enlarge each other's market.
Reality
- Evidence40
- Adoption15
- Hype gap+45
- Incentives70
- Confidence40
Spot Bitcoin ETFs took in about $3 billion over eight sessions as oil lifted Treasury yields to 2007 highs, holding Bitcoin near $84,000. Onchain profit-taking adds sellers as this week's inflation and jobs data decide which side gives first.
Reality
- Evidence72
- Adoption60
- Hype gap+15
- Incentives40
- Confidence65
Token Terminal data shows tokenized stocks deposited in DeFi protocols reached $262.4 million, nearly 18 times January's $14.66 million. About half of that total built up in September alone, which is too recent to show whether the deposits will stay.
Reality
- Evidence45
- Adoption30
- Hype gap+20
- Incentives
- Insufficient
- Confidence40
Bitmine added 17,362 ether last week to hold about 4.9% of supply, while Strategy bought 1,665 bitcoin to reach 847,666. Both kept buying as prices eased, with Bitmine now near a 5% target it set itself and Strategy adding about 0.2% to its holdings.
Reality
- Evidence50
- Adoption55
- Hype gap+20
- Incentives65
- Confidence55
Strategy sold $246.2 million of new common stock last week and put $103.5 million of it into buying back STRC preferred below its $100 par. Those same common holders decide on October 28 whether the four preferreds move to daily dividends.
Reality
- Evidence55
- Adoption
- Insufficient
- Hype gap+15
- Incentives60
- Confidence50
Strategy spent $151.7 million retiring STRC preferred in the week to September 27, more than the $142.7 million it paid for 1,665 bitcoin. MSTR stock sales paid for most of both, so common shareholders are now paying to shrink the company's preferred stock.
Perspective Coverage
3 publishers
- Builder
- Builder 5%
- Operator
- Operator 28%
- Investor
- Investor 67%
Reality
- Evidence80
- Adoption
- Insufficient
- Hype gap+5
- Incentives60
- Confidence78
Strategy will let only common shareholders vote on October 28 on moving STRC preferred to daily dividends from November 1. The rate and total payout stay the same, though STRC holders voted when Strategy last changed their payment schedule in May.
Reality
- Evidence70
- Adoption
- Insufficient
- Hype gap+20
- Incentives70
- Confidence65
The asset manager paid for the coins with fresh common and preferred stock. Back out the two disclosed percentages and the fully diluted share count grew about 4% in a single week.
Perspective Coverage
4 publishers
- Builder
- Builder 5%
- Operator
- Operator 18%
- Investor
- Investor 77%
Reality
- Evidence72
- Adoption45
- Hype gap+30
- Incentives60
- Confidence68
A ten-week gap in purchases produced a $1.59bn dollar reserve, and the roughly 3,588 coins sold in July to meet dividend obligations show where cash has to come from when the asset on the balance sheet pays none.
Perspective Coverage
6 publishers
- Builder
- Builder 6%
- Operator
- Operator 22%
- Investor
- Investor 72%
Reality
- Evidence55
- Adoption50
- Hype gap+15
- Incentives55
- Confidence60
Adam Back's 7.6 million euro tranche took him to 17.64% of the ordinary shares, and the placement it sat in priced above Capital B's own at-the-market print, a premium more typical of ordinary financing than of discounted rescue money.
Reality
- Evidence68
- Adoption30
- Hype gap+40
- Incentives62
- Confidence64
Strategy's second straight week of buying its own preferreds cost $139.3 million and captured roughly $2.74 million of discount to the $100 stated value. The cash pool that funded it held $1.30 billion on September 13.
Perspective Coverage
3 publishers
- Builder
- Builder 3%
- Operator
- Operator 17%
- Investor
- Investor 80%
Reality
- Evidence72
- Adoption
- Insufficient
- Hype gap+15
- Incentives55
- Confidence70
Strive paid for last week's 469 bitcoin entirely with preferred stock. The coupon on its $1.04 billion of SATA is 13%, charged every business day, against a treasury of 25,000 coins. Warrants struck at $27 expire in mid-October.
Perspective Coverage
3 publishers
- Builder
- Builder 7%
- Operator
- Operator 22%
- Investor
- Investor 71%
Reality
- Evidence72
- Adoption55
- Hype gap+12
- Incentives65
- Confidence70
Bitmine holds 5,983,940 ETH, 4.9% of supply, and the 121,060 tokens still missing cost about $325m at its own reference price, a bill its cash balance covers twice over. Tom Lee expects institutions in the fourth quarter.
Perspective Coverage
3 publishers
- Builder
- Builder 7%
- Operator
- Operator 17%
- Investor
- Investor 76%
Reality
- Evidence62
- Adoption45
- Hype gap+22
- Incentives80
- Confidence65
Forced closures of bearish bets, counted at $648 million by Crypto Briefing and above $600 million by CoinGlass, carried bitcoin to its highest price since January. Glassnode puts the US spot ETF cohort's average entry at $85,638.
Perspective Coverage
8 publishers
- Builder
- Builder 6%
- Operator
- Operator 14%
- Investor
- Investor 80%
Reality
- Evidence62
- Adoption40
- Hype gap+30
- Incentives55
- Confidence60
Strive outbought Strategy again on Monday, 1,355 coins against 950, and its stack ranks fifth among public holders. The weekly checks come out of a perpetual preferred that pays 13% and crossed $1 billion of notional this month.
Reality
- Evidence36
- Adoption58
- Hype gap+38
- Incentives78
- Confidence52
Earlier coverage
- Democrats price the CLARITY Act's missing seven votes at a divestment trigger
Invest · September 15, 2026 · 1 publisher
- The Clarity Act's 11-vote shortfall hands crypto's rulebook to the SEC and CFTC until 2027
Invest · September 15, 2026 · 1 publisher
- Circle and Coinbase fell more than twice as far as bitcoin after the Senate stalled CLARITY
Invest · September 15, 2026 · 1 publisher
- A 54% bitcoin drawdown cost the top 50 treasury companies $83bn of market value
Invest · September 10, 2026 · 1 publisher
- Bitcoin's climb past $81,000 ran on $415 million of forced short covering
Invest · September 3, 2026 · 3 publishers
- Strive's 13% preferred funds a ninth straight day of buying at 29% of last week's pace
Invest · September 1, 2026 · 1 publisher
- A quantum-resistant bitcoin spend clears mainnet under today's consensus rules
Product · August 30, 2026 · 1 publisher
- Strategy sells 6,948 bitcoin at about $62,000 each to keep its preferred dividends paid
Invest · August 29, 2026 · 1 publisher
- Bernstein's $300K Bitcoin call is really a bet that mining gets 2.7 times dearer
Invest · August 26, 2026 · 1 publisher
- Strategy's bitcoin stack is 3.8% above cost, and that gap is the whole green headline
Invest · August 24, 2026 · 1 publisher
- A $12m Shanghai insurer sold most of itself for 2,380 Bitcoin
Invest · August 19, 2026 · 2 publishers
- Metaplanet buys a Nasdaq listing with 2,100 of its own bitcoin, and writes a template
Invest · August 18, 2026 · 4 publishers
- One $400M round held up crypto's July: 41 rounds and 140 investors, both at lows
Invest · August 18, 2026 · 1 publisher
- Strategy sold $333.7M of stock to pay its preferred holders, not to buy bitcoin
Invest · August 17, 2026 · 1 publisher
- Crypto's signature swap now has a date, a price tag, and no owner
Invest · August 15, 2026 · 1 publisher
- Metaplanet's 200 million yen bond debut is a plumbing test, not a raise
Invest · August 14, 2026 · 3 publishers