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Strategy Bitcoin Stack Just Shy of 500K Tokens After Latest $2B Purchase
The Michael Saylor-led company used funds from last week's $2 billion 0% convertible note offering.
Updated Feb 24, 2025, 7:05 p.m. Published Feb 24, 2025, 1:13 p.m.
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What to know:
Strategy (MSTR) brought its bitcoin (BTC) holdings up to just a hair shy of half of million with its latest acquisition.
The company, led by Executive Chairman Michael Saylor, on Monday morning announced the purchase of 20,356 BTC for $1.99B, or an average price of $97,514 per token.
This comes after the last week's $2 billion 0% convertible note offering, which raised $1.99 billion after expenses.
MSTR's bitcoin stack now sits at 499,096 tokens acquired for $33.1 billion, or an average price of $66,357 each. At bitcoin's current price of $95,500, the holdings are worth about $47.7 billion.
MSTR shares are up marginally in premarket action after a Friday tumble that took the stock price below $300.
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Silver nears $1 billion in volume on Hyperliquid as bitcoin remains frozen: Asia Morning Briefing
Silver perps have more volume on Hyperliquid than SOL or XRP.
What to know:
- Silver futures on the Hyperliquid crypto derivatives exchange have surged to become one of its most active markets, ranking just behind bitcoin and ether in trading volume.
- The SILVER-USDC contract’s high volume, sizable open interest and slightly negative funding suggest traders are using crypto infrastructure for volatility and hedging in macro commodities rather than for directional crypto bets.
- Bitcoin is holding near $88,000 in a "defensive equilibrium" with cooling ETF inflows, uneven derivatives positioning and rising demand for downside protection, while ether lags and capital rotates toward hard assets like gold and silver.
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