Gm friends,
Move over Nvidia, MicroStrategy is Wall St.’s hottest stock split right now!
Here is your weekend crypto update…
Here’s what’s in today’s issue:
- Rebecca shares her thoughts on MicroStrategy’s stock split, 3 new crypto hacks, US CPI falling to 3%, Block partnering with Core Scientific & Ethereum staking rising ahead of the ETF launch.
- Altcoin alpha by David.
- This week’s airdrop by Jesse.
- Sam has an NFT report on Oasys, the gaming blockchain.
Get a FREE $500 Bitcoin trading position on Bybit! Just use this link and click register to claim
MicroStrategy’s 10:1 Stock Split
The German government is almost done selling its Bitcoin—less than 5,000 BTC to go. Phew!
So Michael Saylor being the Bitcoin bull he is, took it upon himself to get the bull market momentum going once again.
Saylor announced on Thursday that MicroStrategy is following in Nvidia’s footsteps and is offering a 10 for 1 stock split.
After the market closes on August 7, each MicroStrategy shareholder will receive 9 shares for every 1 owned. Then, the stock price will adjust at the opening bell on August 8.
To qualify for the stock split, you must hold MicroStrategy on August 1.
Whilst a stock split increases the number of shares, it doesn’t change a company’s value. Instead, it’s designed to lower the stock price, to lower the barrier to entry.
MicroStrategy is the largest publicly traded corporate holder of Bitcoin with 226,331 BTC on its balance sheet.
After DCA’ing into Bitcoin since August 2020, MicroStrategy’s stock price is:
- +98% in 2024 (BTC +29%)
- +228% in 12 months (BTC +87%)
- +1,000% in 4 years (BTC +383%)
With MicroStrategy acting as a leveraged Bitcoin ETF, its exponential gains were always going to lead to a stock split. It was only a matter of time.
Now, a cheaper stock price will make it more accessible and appealing to the everyday investor. The stock split will lower MicroStrategy’s price 10x to around $135. This makes MicroStrategy perfectly positioned for the next leg of the bull market.
Are you a MicroStrategy shareholder? Please reply to this email and let us know your thoughts on the stock split.
Compound, Celer And Pendle Hacked
The crypto market just had a security wake-up call after a trio of phishing attacks on Thursday. So here’s how everything went down…
First, Compound Finance’s website was compromised and was quickly turned into a phishing site.
Then, Celer’s website was turned into a draining service.
Then, Pendle Finance was redirected to a malicious site.
The further into the bull market we go, the greater lengths hackers will go to steal your funds—so be careful!
All three websites have now been secured and an investigation is underway.
No details have been released yet as to whether the hackers stole any funds and how much. But it has been confirmed that nothing was wrong with any of the protocols themselves.
Pendle has been the first to share its post-mortem to pinpoint the issue. Hackers exploited a vulnerability in its website domain provider Squarespace, following its migration from Google domains.
The hackers changed the DNS records allowing the website to be redirected. I’m sure more information will be released shortly as…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
