Morning Minute: Saylor Gains Access to Another $44B to Buy Bitcoin
Strategy gained approval to issue $44 billion in new equity—$21B in MSTR, $21B in STRC, and $2.1B in STRK—to fund future Bitcoin purchases, maintaining its Bitcoin accumulation despite a recent slowdown. STRC, now offering an 11.5% monthly dividend, contributed to over $1.5B raised this month and boosted demand. Bitcoin price remained stable at $70,500 following the news. Lawmakers are preparing a bipartisan bill to ban sports betting on prediction market platforms, targeting major players like Kalshi and Polymarket, where sports bets constitute a significant portion of trading volume (70-85% for Kalshi, 35-40% for Polymarket). This comes as prediction markets report growth, raise new funds, and implement tighter regulations: Polymarket launched a referral program and new variable fee structure, while both Kalshi and Polymarket introduced stricter controls to prevent insider trading. Coinbase faced user backlash for repeated March Madness betting notifications and prominent sports ads, prompting CEO Brian Armstrong to promise added customization options for notifications. Meanwhile, Senator Elizabeth Warren questioned Beast Industries about teen exposure to crypto through the Step banking app, highlighting concerns over Step’s history of allowing minors to buy crypto with parental consent.
