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Crypto

Bitcoin shifts from speculative asset to institutional treasury strategy, drawing Wall Street attention

Bitcoin is increasingly being treated less as a speculative target for retail investors and more as a financial asset used by institutional investors and companies, Bitcoin Magazine reported. Allen Helm (앨런 헬름), co-founder of Bitcoin for Corporations, said banks he speaks with no longer view bitcoin primarily as a speculative asset. He said institutions are using it as a base asset for designing digital credit products and securities, and are approaching it from a portfolio and capital-structure perspective.

Crypto

Metaplanet seeks to buy Super League with 2,100 bitcoin to target U.S. capital markets

Japanese bitcoin treasury firm Metaplanet is seeking to secure control of Nasdaq-listed Super League by contributing 2,100 bitcoin. Super League shareholders approved proposals that would allow Metaplanet to obtain a 93.7% stake. Metaplanet plans to raise funds for additional bitcoin purchases through dollar-denominated preferred stock issuance after establishing a listed-company structure. The deal includes common shares, governance-focused convertible perpetual preferred shares and warrants, with a five-year lock-up on the common stock.

Crypto

Strategy faces MSCI removal risk, selling pressure may rise

MSCI has finalised rules to exclude non-operating companies from its indexes, raising the possibility that bitcoin-heavy treasury firms could be removed. The rules take effect after the close on Nov. 30. Strategy and Metaplanet are cited as directly exposed because crypto makes up a large share of their balance sheets. Existing constituents must be deemed ineligible in two consecutive annual filings to be removed, while new candidates can be blocked after one ineligible result.