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32 minutes ago
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Strategy (MSTR) Q2 Earnings Preview: What to Expect From Upcoming Report
July 30 - Strategy (NASDAQ:MSTR) plans to release Q2 2025 results after markets close on July 31, and investors follow closely given its large Bitcoin holdings. Analysts expect a per?share loss of $0.10, narrower than the $0.57 hit a year earlier. Revenue should edge up 1.9% to about $113.5 million, reflecting both its crypto treasury operations and enterprise analytics business. Warning! GuruFocus has detected 9 Warning Signs with MSTR. In a recent preferred?stock deal, the company raised $2.5 billion and used the funds to buy 21,021 BTC, bringing total reserves to 628,791 coins. Recently, Cantor Fitzgerald's Brett Knoblauch raised his price target to $680 and reaffirmed a Buy rating, pointing to the firm's unique market position. He estimates Strategy could reach 1 million BTC in just over three years if it keeps up current purchase levels. Based on the one year price targets offered by 13 analysts, the average target price for Strategy is $495.38 with a high estimate of $680.00 and a low estimate of $200.00. The average target implies a upside of +25.52% from the current price of $394.66. This article first appeared on GuruFocus.
Yahoo
an hour ago
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Asia Morning Briefing: SEC's In-Kind BTC, ETH ETF Redemption Shift Happened Years Ago in Hong Kong
Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Wednesday in the U.S., the Securities and Exchange Commission announced that investors are now allowed to do in-kind redemptions for bitcoin and ether exchange-traded funds (ETFs). The decision lets institutional traders create and redeem ETF shares directly in BTC or ETH, improving efficiency by avoiding fiat conversions. But in Hong Kong, this isn't anything new. In late 2023, during the early days of the regulatory process to bring crypto ETFs to the market (they launched in April 2024), the Securities and Futures Commission – the city's markets regulator – mentioned in a circular that in-kind redemptions would be allowed. Part of the reason why they were allowed was a technical one: ETF issuers were required to partner with licensed local crypto exchanges and use custody solutions. This wasn't the case in Ontario, Canada, which had crypto ETFs first, nor the U.S. In Hong Kong there wasn't the same debate about the status of Ether as a security as there was in the U.S. In contrast, U.S. regulators wrestled with concerns over custody, anti-money laundering risks, and potential market manipulation. While the SEC never explicitly banned in-kind redemptions, ETF sponsors were required to remove them from early filings. The Commission favored a cash-only approach as a cautious first step, citing untested operational processes and uncertainty over how to securely settle large crypto transfers. That stance wasn't without internal pushback. SEC Commissioner Mark Uyeda publicly criticized the agency's approach during the January 2024 approval of spot bitcoin ETFs. He pointed out that commodity-based ETFs, like those backed by gold, routinely use in-kind redemptions and questioned why crypto was being treated differently. Uyeda argued that the SEC failed to explain why it considered cash-only redemptions 'non-novel,' despite the clear deviation from standard ETF practice, and warned that the lack of reasoning set a troubling precedent. The episode highlights how Hong Kong's regulator moved with greater clarity and cohesion from the start as it brought these products to market. By enabling in-kind redemptions early on, and pairing them with strict licensing and custody requirements, the SFC avoided the internal contradictions and policy drift that defined the U.S. rollout. However, there's going to be one side effect from all of this: tracking flows. Crypto data aggregator SoSoValue, which provides daily flow updates for crypto ETFs, warns that "subscriptions of physical bitcoin do not generate cash inflows for the [ETFs], so they cannot be simply counted in daily net inflow statistics." They've tried to create methods and models to work around this, but say they have been unsuccessful so far. So unless ETF issuers in the U.S. publish daily flow in cash and crypto, tracking this metric is going to be an issue. And it's an important one to track, as it shows investor sentiment for the asset class. Market Movements BTC: Bitcoin is trading above $117,500 after a modest rebound, but momentum remains weak as ETF outflows persist, whales take profit near $118K, and macro headwinds, including a firm dollar and hawkish Fed expectations, continue to limit upside. ETH: ETH is trading above $3,700. "Ethereum has proven in parallel with BTC since its inception to be the second most battle-tested network, and very likely institutions now see Ether the token as a formidable asymmetric bet alongside bitcoin," said March Zheng, General Partner of Bizantine Capital, in a note to CoinDesk. Gold: Gold rebounded to $3,334 on Tuesday, snapping a four-day losing streak ahead of the Fed meeting, as traders priced in steady rates despite weak U.S. job data Nikkei 225: Asia-Pacific markets opened mixed as U.S. Commerce Secretary Howard Lutnick confirmed Trump's Friday tariff deadline will proceed as planned, with Japan's Nikkei 225 flat at the open. S&P 500: U.S. stocks closed lower Tuesday, with the S&P 500 ending a six-day record streak, as investors weighed earnings, economic data, and the upcoming Fed rate decision. Elsewhere in Crypto: Tornado Cash Developer Roman Storm Will Not Take the Stand, Lawyers Say (CoinDesk) Cornell Tech Professor Warns AI Agents And Crypto Spell Trouble (Bloomberg) Sen. Lummis introduces bill requiring Fannie Mae and Freddie Mac to consider crypto as an asset for mortgages (The Block) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
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'Turkey's Uber' Joins Strategy, Tesla As Bitcoin Treasury Company
Martı, Turkey's leading ride-hailing platform, has committed 20% of its cash reserves to crypto assets, starting with Bitcoin (CRYPTO: BTC), CEO Oğuz Alper Öktem announced on Wedjesday. The move positions Martı among a growing list of global companies incorporating digital assets into their treasury management strategies. "We view digital assets as a long-term store of value," Öktem said. "Our aim is to preserve the purchasing power of cash that is not allocated to operational spending." He also emphasized that Martı's core transportation operations and growth plans remain fully funded and unaffected by the crypto allocation. Martı becomes the first prominent Turkish mobility company to publicly announce Bitcoin holdings as part of its treasury policy. The decision reflects broader institutional interest in Bitcoin as a hedge against inflation and currency debasement. Martı's decision mirrors actions taken by several high-profile companies globally. Strategy (NASDAQ:MSTR) has been the most aggressive corporate Bitcoin buyer, holding over 628,000 BTC as of July 2025, acquired through a mix of equity and debt raises. Also Read: Tesla (NASDAQ:TSLA) also purchased $1.5 billion worth of Bitcoin in 2021 and held portions on its balance sheet through subsequent years. Other firms like Block Inc. (NYSE:XYZ) and Coinbase Inc. (NASDAQ:COIN) have included Bitcoin in their reserves, citing similar long-term value arguments. More recently, companies such as Sharplink Gaming (NASDAQ:SBET) and BTCS Inc. (NASDAQ:BTCS) have added Bitcoin to their treasuries and publicly reported these holdings in regulatory filings. The trend has gained momentum as Bitcoin ETF approvals, institutional custody solutions, and favorable accounting standards reduce perceived risks around crypto treasury exposure. Founded in 2018, Martı operates Turkey's largest app-based mobility platform, offering shared scooters, e-mopeds, and ride-hailing services in urban areas. As a publicly listed company on the New York Stock Exchange, Martı's Bitcoin allocation adds transparency and weight to its treasury policy shift. The firm has not disclosed the total value of its cash reserves or the exact volume of Bitcoin purchased, but the 20% figure signals a strategic pivot in how Martı manages idle liquidity under varied macroeconomic conditions. Read Next: Image: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article 'Turkey's Uber' Joins Strategy, Tesla As Bitcoin Treasury Company originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
