Strategy Crisis Escape: Preferred Stock Breaks $100, Plus Bitcoin and Ethereum ETF Inflows

Summary

Park Sang-hyuk, Digital Asset Editor-in-Chief, discusses the crypto market recovery with Bitcoin and Ethereum rising while semiconductors struggle. He analyzes Strategy’s (MSTR) flywheel revival, Bitcoin’s cycle bottom likely by October, Ethereum’s institutional inflows, and Robinhood’s mainnet expansion. Host Seo Dong-ju adds that Bitcoin is benefiting from internal liquidity rotation out of risk assets.

• Strategy (MSTR) and preferred shares (STRC) rally as mNAV improves and flywheel revives; STRC still needs to break above $90.
• Cantor Fitzgerald research and cycle patterns suggest Bitcoin bottom may end around October, with August–December as the likely low zone.
• Ethereum ETF posts $14.8M net inflows and a new nonprofit Ethereum Institutional launches with Standard Chartered support.
• Robinhood launches its own mainnet, integrates DeFi, and expands stock token trading to 140 countries, resembling Coinbase’s strategy.
• Smaller Bitcoin treasury firms (Metaplanet, Strive) continue accumulating BTC, supporting underlying demand.
• Standard Chartered’s USDC custody service is positive for Circle, though Circle is not publicly traded.
• Bitcoin’s recent strength stems partly from internal liquidity rotation out of semiconductors amid Nasdaq weakness.