Bloomberg's Eric Balchunas publicly called for Strategy to retire STRC after the preferred stock hit a record low of $82.53. The real story is what happens to the BTC accumulation engine while the ATM tap is shut off.
CME Group sued the CFTC on June 18, 2026, arguing the agency's approval of Bitcoin perpetual futures for KalshiEX and Coinbase violated Dodd-Frank. TD Cowen expects CME to seek a preliminary injunction that would shut down U.S. perps before they gain any trading history.
Deputy Defense Secretary Stephen Feinberg told lawmakers the Pentagon needs $80B covering Iran war costs and non-defense spending. With U.S. debt approaching $39T, every supplemental is a monetary event.
JPMorgan puts Bitcoin's all-in production cost at $78,000. BTC has traded ~19% below that for five straight months. Public miners sold a record 32,000 BTC in Q1 2026. The network's self-correction mechanism is working. Here's what survives it.
