After months of deterioration, sentiment around $MSTR, $STRC, $ASST, & $SATA all moved higher last week.
We expect that trend to continue this week.
We cover the shift and lots more in our inaugural Digital Credit Weekly recap. 👇
I asked Parker White whether Strategy's $260M Bitcoin sale marks a real shift away from Bitcoin's ethos. His answer: it is 'a little bit of a tweak,' not a flip flop. 🪙
I pushed back, since selling Bitcoin at a loss to fund dividends puts the dollar ahead of Bitcoin, at least in that moment.
Full conversation on my latest episode with @TheOtherParker_.
Timestamps:
🏛️ 02:03 Parker on why Strategy's record Bitcoin sale to fund dividends is smart, not desperate
📋 06:24 How Strategy's new digital capital framework tries to calm the market's nerves
⚠️ 09:59 Laura and Parker spar over whether shorts or Strategy's own missteps sparked the selloff
💵 21:27 Whether prioritizing USD over Bitcoin marks a philosophical flip for Strategy
📣 26:28 Fidelity: Explore crypto careers at Fidelity today at https://t.co/8dua6AZj82
🔐 27:10 Cape: Get 33% off your first six months with code UNCHAINED at https://t.co/2ZtLziXsHV
⏳ 28:09 Why Parker isn't worried about Strategy's looming $6.7 billion convert cliff
🧩 34:56 Parker on how Apyx wraps STRC and SATA into a yield bearing onchain asset
📉 36:38 What caused apxUSD's drop to as low as 72 cents and the liquidity pull
🛡️ 41:10 Parker defends Apyx 2.0's redemption rules against the free put option critics
🔄 47:53 Parker on why comparing Strategy to Terra Luna or GBTC misreads the risk
New Morpho markets, curated by @Hyperithm! 🙌
Borrow $USDC against PT-apxUSD and PT-apyUSD. 86% LLTV.
Supply for 40x points multiplier toward the Oct 13 $APYX airdrop.
PT-apx Market 👇
https://t.co/SeuY16lkBz
PT-apy Market 👇
https://t.co/vaYZlGp5gS
Strategy sold 3,588 BTC ($216M) to fund its preferred dividends. Capitulation, or proof the dividend machine works?
@TheOtherParker_ of Apyx — whose apxUSD stablecoin is backed by Strategy's STRC — joins live at 3:30pm ET.
Join us live on our platforms: X - https://t.co/AohKSQ4sNg
Apyx has completed its 5th smart contract security audit, this time with @halbornsecurity. 🔐
Security and transparency are core to building the first Dividend-Backed Dollar (DBD) protocol.
All Apyx audits are available here. 👇
https://t.co/OoShiONrAu
All the ways you can earn yield with onchain digital credit. 👇
And don’t forget, you’ll also earn points toward the October 13 $APYX airdrop.
So, what're you waiting for?!
you are only overreacting if you think @Strategy is the next Luna.
@apyx_fi made a strong case for why this isn't another collapse.
a really good defense of STR, MSTR, and digital credit ngl.
Here's why:
> strategy isn't facing margin calls.
> STRC isn't losing its peg. It's simply repricing for a higher yield.
> the balance sheet is backed by over 847,000 BTC, not empty promises
the luna comparison misses the mechanics here.
Luna was built on reflexive algorithmic incentives that unraveled once confidence broke.
Strategy is sitting on real BTC collateral.
that alone changes the entire risk profile.
the risks are still there, of course.
it's just that they look more like funding pressure than a company going under.
what i liked about Apyx’s take is that it doesn’t pretend those risks don’t exist.
we all know the risks are there.
Apyx also acknowledged them.
and it also made sure to differentiate between financial issue and insolvency.
Apyx also does a good job framing strategy’s digital credit setup.
in simple terms, a BTC-backed credit will surely be affected in this market.
when it gets better, it can evolve into a legit asset class.
there is no point in asking if they survive this volatility.
what should be focused on is whether digital credit becomes a core of the market.
the same goes for everyone saying, "the peg is broken."
it isn't, STRC is simply trading below par because the market wants a higher yield.
if you know very well, you'll know that's repricing.
i am sure by now, every one of us can see the thesis.
right now, the market is pricing in a worst-case outcome.
don't get swayed by what you see on the TL.
do read this and see for yourself.
@apyx_fi Voting on the REPEG and Compensation Plan has officially begun.
If the proposal passes, eligible participants will receive compensation and priority recovery access.
Cast your vote TODAY
https://t.co/T43Oyudkih
@apyx_fi Your voice matters. The REPEG and Compensation Plan vote is now active.
Eligible members stand to receive compensation and priority recovery if this passes.
Voting window closes TODAY
Submit your vote: https://t.co/eFeOXh6TaD