|
GM. This is Milk Road, the crypto newsletter that connects the dots, so you can see the bigger picture. |
Here’s what we’ve got for you today: |
|
Nexo is back in the U.S. - and new clients get 30 days of Wealth Club Premier perks! Higher yields, lower borrowing rates, and crypto cashback - start here. |
|
|
SAYLOR'S BITCOIN VACUUM DOESN'T HAVE AN OFF SWITCH 📈 |
Q: What do these 3 statements have in common… |
|
A: They’re all universal truths. |
Which makes an article covering MSTR’s recent Bitcoin purchases feel like a waste of line space… |
But it's not what they're doing, it's how they're doing it that’s catching our attention. |
‘Cause even though we’re in a multi-month, market-wide downturn - Saylor is still buying at the same pace as he was during the bull run. |
Lemme put some numbers on it to really drive home just how insane his current pace is... |
During the last bear market's peak-to-trough (Nov 2021 to Nov 2022), MSTR accumulated about $450M worth of Bitcoin. |
Decent chunk. Respectable. |
From the most recent market peak on October 6, 2025, to where we are right now? |
This mf'er has scooped up roughly $11.67B worth of BTC! |
That's a 26x increase in capital deployed compared to the 2021/2022 bear market. |
|
So where's the money coming from? |
Throughout the recent bull run, Saylor was funding his Bitcoin shopping spree by issuing and selling shares of MSTR (Strategy's common stock). |
When Bitcoin was ripping and everyone wanted exposure, demand for MSTR was high, and it was easy to raise capital that way. |
But when the market turned? That demand cooled - and Saylor needed a new engine. |
So he built one… |
|
| Most people hold crypto and hope. | The smart money? They're earning interest on it, borrowing against it without selling, and trading it. | Where can you do the same all in one place? Nexo. | And right now, new U.S. clients get 30 days of Wealth Club Premier (benefits normally reserved for loyalty program members): | Enhanced interest rates on your digital assets Lower borrowing costs against your crypto Up to 0.5% cashback on trades
| No need to sell to access liquidity. No juggling 5 different platforms. | 👉 Get started here | *Disclaimer: Geographic restrictions and terms apply. |
|
|
|
SAYLOR'S BITCOIN VACUUM DOESN'T HAVE AN OFF SWITCH (P2) 📈 |
We've talked about STRC (aka "Stretch") before, but the full power of this thing is only really becoming clear now (while the market is down)… |
STRC is Strategy's perpetual preferred stock (a special class of stock that pays dividends forever), which is designed to sit at an even $100 per share. |
You buy in at $100 per share → Strategy pays you 11.5% annualized in cash dividends (up from 9% at launch). |
Every time the STRC stock price goes above $100, Strategy issues new shares (diluting the stock/lowering the price) and funnels the proceeds straight into Bitcoin purchases. |
If it dips below $100, they bump up yields to attract more buyers, and bring the price back up. |
(Shares sell, BTC gets bought. Rinse, repeat, forever.) |
|
And investors are LOVING it. |
Estimated STRC proceeds hit $1.8B as of yesterday - not even two full days into the week. |
|
Saylor has essentially engineered a financial product that accelerates his buying the worse sentiment gets. |
(The more people want safe, boring yield → the more fuel STRC has to vacuum up BTC.) |
So why should you care? |
Because the more financial instruments like this that exist and get adopted, the more robust Bitcoin becomes as an asset - it's hard to keep prices subdued when there's an absolute maniac buying $1B worth of BTC every week. |
And the more success Saylor finds, the more others will want to copy it. |
Hell, it’s already happening. BlackRock's BITA (a yield-focused Bitcoin ETF) could launch within weeks. |
Goldman Sachs filed for its own Bitcoin Premium Income ETF yesterday. |
Both of these have slightly different mechanisms - but they both lead to a similar result: |
More investor demand → more Bitcoin bought to fill the fund. |
Hell yeah! |
|
BITE-SIZED COOKIES FOR THE ROAD 🍪 |
The entire industry is headed to Miami. Get 20% off Consensus Miami passes with code MILKROAD.* |
Always watching Wazowski: The CFTC is now investigating oil trades worth nearly $950M that happened just hours before Trump announced a ceasefire deal with Iran. |
Ok, now do crypto! The S&P 500 just hit a new all-time high, right in the midst of the U.S.-Iran war. |
Wall Street didn’t see this coming: AI just became a systemic risk… |
Higher earnings rates. Lower borrowing costs. Up to 0.5% cashback. New U.S. clients get these benefits on Nexo for 30 days.** |
*this is sponsored content.
**this is partner content. |
|
|
👉 Get started here |
| RATE TODAY’S EDITION | What'd you think of today's edition? | |
|
|
|
MILKY MEMES 🤣 |
|
|
|
ROADIE REVIEW OF THE DAY 🥛 |
|
VITALIK PIC OF THE DAY |
|
|
