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Michael Saylor: Strategy and Strive, as Bitcoin treasury companies, are not in zero-sum competition and can jointly expand the digital credit market

Founder of Strategy Michael Saylor posted that he hopes Strive and all well-managed "Bitcoin-driven digital credit" issuers achieve success.Strategy is built on the same foundation as Strive: BTC belongs to digital capital, STRC and SATA belong to digital credit, and MSTR and ASST belong to digital equity. The securities structures and decisions of both parties are independent, although they will compete for individual capital allocations, they can also jointly expand long-term market opportunities.Saylor cited SIFMA data stating that by the end of 2025, the global stock market value will reach $157.8 trillion, and the fixed income debt balance will reach $160.7 trillion, with 0.1% of either market being approximately $160 billion.He proposed a threefold amplification mechanism: corporate financing to purchase supply-constrained Bitcoin can increase demand and improve the asset coverage of related companies; more issuers launching digital credit products can accumulate research, trading, and liquidity foundations, reducing the premium investors demand due to unfamiliarity, and potentially narrowing credit spreads and financing costs; more companies proving that this model can operate in different market environments may enhance market recognition of digital equity.He also emphasized that a single purchase does not guarantee Bitcoin appreciation, Bitcoin itself does not pay interest, and the profit margin between long-term asset returns and financing costs must be obtained through disciplined management; more issuers will not automatically lead to higher valuations.This model depends on a robust capital structure, prudent liquidity, transparent disclosure, and useful products. Weak issuers may undermine confidence in the entire category, while more credible issuers can meet institutional diversification investment needs and attract funds that would not otherwise enter the category.

first_img DoubleZero launches a dedicated fiber optic market data source for Hyperliquid

The global fiber optic network project DoubleZero announced the launch of a dedicated market data source for the decentralized derivatives exchange Hyperliquid, allowing professional trading institutions to access its complete order book via fiber optics instead of public APIs. This data source covers the native perpetual contract market of Hyperliquid, as well as the markets operated by trade[XYZ] that run on its infrastructure, which offers perpetual contracts linked to assets such as crude oil, gold, and silver. This data source was co-developed by DoubleZero, validator node operators, and ecosystem partners Hyperion DeFi, MAVAN, and Kinetiq.DoubleZero stated that this service provides continuous and orderly market data streams for market makers, quantitative trading institutions, and proprietary trading firms, meeting their demand for faster and more stable order book updates. Previously, institutions wishing to obtain a complete view of Hyperliquid's order book had to integrate the data returned by public APIs themselves or run their own Hyperliquid nodes. DoubleZero noted that adjustments to Hyperliquid's public API have reduced the frequency and depth of available updates.Hyperliquid is the third trading venue to access the DoubleZero Edge market data service, following Solana and the prediction market Kalshi.

Gate event contracts comprehensively cover cryptocurrency and stock assets, managing short-term fluctuations with zero leverage

According to official news, Gate has launched the world's first stock event contract, expanding the underlying coverage from crypto assets to traditional stocks, supporting bullish or bearish trades in short cycles such as 5 minutes and 15 minutes.As a flexible and efficient short-term trading tool, the Gate event contract has four core advantages: in terms of risk control, the product features zero leverage and low risk, with no forced liquidation or margin call mechanism, and the maximum loss is limited to the initial invested principal; in terms of rules and mechanisms, the criteria for price rise and fall, settlement standards, and transaction fees are all open and transparent throughout the process; in terms of trading flexibility, it supports closing positions at any time, allowing users to control the pace, lock in profits, or stop losses in a timely manner; in terms of participation threshold, it only requires an investment of 5 USDT to start, helping investors quickly implement short-term strategies.Currently, the official incentive program has been launched simultaneously. The second phase of the Gate event contract limited-time trading competition officially started on September 21 at 16:00 (UTC+8) and will continue until October 1 at 08:00 (UTC+8). The event includes rewards for first trades and consecutive trades for new users, daily trading volume tiered rebates for all participants, and a grand prize for cumulative trading volume leaderboard, with participating users having the chance to win a prize pool of up to 12,500 USDT.

Evernorth plans to issue bonds worth 30 million USD to increase its holdings in XRP, while Bitdeer reported a weekly production of 287 BTC and maintains zero holdings

According to BBX data, last weekend, global publicly listed treasury and mining companies in the U.S. announced their latest accounts regarding digital asset allocation, note financing, and liquidity management. The core updates are as follows:Evernorth Holdings plans to issue $30 million in convertible senior notes, specifically for increasing its holdings in XRP and ecological expansion: The treasury company Evernorth Holdings submitted an 8-K filing to the U.S. SEC, disclosing that it has signed a subscription agreement with a trust under South Korea's NH Investment & Securities, planning to issue convertible senior payment-in-kind (PIK) notes with a scale of $30 million, an annual interest rate of 4%, and maturing in 2031. The formal effectiveness of the notes is contingent upon the completion of the business merger transaction between Evernorth and the SPAC company Armada Acquisition Corp. II (expected to close in the fourth quarter of 2026). The proceeds will be fully used to purchase XRP in the secondary market and participate in XRP-related ecological businesses. Noteholders can convert the notes into the company's Class A common stock one year after the effective date, with an initial conversion price of approximately $10.20 per share.Bitdeer (NASDAQ: $BTDR) disclosed weekly mining data, producing 287.2 BTC fully liquidated: The Nasdaq-listed Bitcoin mining company Bitdeer announced its latest Bitcoin holdings data. As of the week of September 18, its self-operated Bitcoin mining output was 287.2 BTC, and it sold 287.2 BTC in the open market during the same period, resulting in a net addition of 0 BTC for the week. The balance sheet continues to implement a liquidity strategy of immediate sale upon production, maintaining zero Bitcoin retention.
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