Search results for Mark Palmer
Crypto
STRC price drop spurs TerraUSD comparisons; Benchmark says approach is wrong
Strategy\'s preferred stock STRC has fallen below its $100 par value, prompting some social media comparisons to the TerraUSD-Luna collapse. Benchmark-StoneX analyst Mark Palmer said the comparison is fundamentally misguided because STRC is not a stablecoin and is not supported by algorithmic arbitrage or confidence in a token structure. He said STRC is indirectly based on Strategy\'s bitcoin holdings and its financing model, though weakness could slow fundraising.
Crypto
Wall Street sees low chance of Strategy forced bitcoin sale, keeps buy rating
Major Wall Street brokerages assessed market concerns about a forced bitcoin sale by Strategy as unlikely. Benchmark and TD Cowen said in reports they see a low chance the company would be compelled to sell bitcoin and maintained their existing buy ratings. Analysts pointed to cash-like assets set aside for preferred dividend payments and the lack of near-term redemption pressure for STRC perpetual preferred shares. TD Cowen also said Strategy’s bitcoin treasury strategy requires at least a mild upward price trend over the long term.
Crypto
U.S. Senate passes crypto market structure bill but long road to enactment
The U.S. Senate Banking Committee has approved the crypto market structure bill known as the Clarity Act, drawing a positive response from the digital asset industry, though analysts say final enactment remains uncertain. TD Cowen raised its estimated odds of passage to 40 percent, citing signs of Democratic backing. The bill passed 15-9 with two Democrats in support. Analysts say it must be merged with a parallel package and clear a 60-vote threshold.
