Bitcoin rebounded to above $97,500, and MicroStrategy (now renamed Strategy) increased its Bitcoin holdings by $742 million. Tesla's fourth-quarter Bitcoin profits highlight that the company can use its Bitcoin as collateral to unlock liquidity and hedge against market downturns. North Carolina has proposed Bitcoin reserve legislation, and Grayscale along with NYSE Arca plans to launch a U.S. Cardano spot ETF.
MicroStrategy buys more Bitcoin, STRK has risen by 12% since its listing
Strategy (previously called MicroStrategy) has made another move recently. This time they spent $742.4 million, purchasing 7,633 Bitcoins at a price of $97,255 per Bitcoin. This operation is quite impressive.
As of February 9, 2025, Strategy has accumulated 478,740 Bitcoins, spending a total of $31.1 billion, which averages to a cost of $65,033 per Bitcoin. Additionally, from the beginning of 2025 to now, they have achieved a 4.1% return on Bitcoin, which is not insignificant.
There's another piece of news: Strategy's perpetual preferred stock STRK has officially circulated in the secondary market. The stock price rose again yesterday, reaching $89.5, up 12% from the issue price of $80. This indicates that the market still has considerable confidence in them.
Sol and XRP are at a critical moment!
Did you know? The world's top derivatives exchange, CME, is on par with NASDAQ and has sparked market discussions due to a leak on their official website. It is said that the exchange plans to launch futures trading for Solana (SOL) and XRP on February 10. After this news broke, both SOL and XRP prices rose in January. Now, the market is welcoming a long-awaited 'sell the news' moment.
Short-term market outlook
If CME fails to launch as scheduled, investors may feel disappointed, leading to a price correction; however, if it launches on time, the market may experience a brief surge before entering a correction phase, and after realizing the benefits, potential risks will also increase. This trend aligns with the market adage of 'buy the rumor, sell the news.'
In addition, Solana is also facing the pressure of $2.3 billion in tokens unlocking in March, which may negatively impact short-term price trends. In the absence of new significant favorable support in the market, Sol may experience a temporary weakness, so caution is advised.
Position Adjustment Strategy
Although I still believe in the long-term potential of Solana, to avoid short-term risks, I am considering shifting some positions to Sui, ETH, Pepe, and AAVE to reduce the potential impact of corrections. Once Sol's price adjusts and market pressure eases, I will look for opportunities to reinvest at lower levels, seeking better entry points.
Finally, let's talk about TST. Can it still rise? Let's unveil its entire history together!
TST is a meme coin launched by Zhao Changpeng, aimed at enhancing the meme ecosystem on the BSC chain and promoting traffic for BNB. The pump for TST will start at 3 PM on February 8th, and this surge can be roughly divided into three stages:
1. Trial Market Increase (From February 8th 3 PM to midnight)
2. Sideways + Explosive Rise (From February 9th 2 AM to 4 PM)
3. Market Crash (From February 9th 5 PM to now)
