Strategy sinks as bitcoin plunges — the announcement it’s buying more bitcoin is not helping matters

Monday morning, Michael Saylor’s Strategy — the largest corporate bitcoin holder — was down a whopping 9% at market open, and is down more than 11% as of 11:55 a.m. ET as bitcoin struggles as well. The company is down about 15% year to date. The overall crypto market is taking a beating after Friday’s Crypto Summit disappointed investors. CoinMarketCap’s “fear and greed” index is at 17, reflecting “extreme fear.”

This morning, Strategy announced it would issue up to $21 billion of “perpetual strike preferred stock” to buy more bitcoin and “for working capital,” according to a press release.

Strategy has long been on a bitcoin buying spree, now holding 499,096 bitcoin. This places the company way ahead of the second-largest bitcoin holder, Mara Holdings, which holds 45,659 bitcoin in its reserve.

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Crypto altcoin pain deepens as red monthly candles continue to stack up

XRP, solana, and dogecoin haven’t posted a positive monthly return since September, while ethereum is on track to have its fifth consecutive monthly red candle.

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Bitcoin down for fourth consecutive month, its longest losing streak since 2018

Bitcoin also suffered roughly $800 million in liquidations and ETF outflows in the past 24 hours.

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Solana has tanked since spot solana ETFs launched, despite the funds only recording positive flows to date

Solana’s ETF inflows are a supportive signal, but they aren’t the marginal price setter for the token, one expert explained.

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Bitcoin falls to lowest level since November as long-term holders accelerate selling

A majority of bitcoin investors are officially underwater and the asset’s continued fall “could intensify selling pressure as investors attempt to limit losses.”

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Ripple launches treasury platform to manage cash and cryptocurrencies

Ripple, the firm closely tied to the fifth-largest cryptocurrency, XRP, introduced a new treasury platform for digital asset and traditional cash management for users like financial officers, treasurers, and accountants.

Ripple’s move comes more than three months after it acquired treasury software provider GTreasury for $1 billion, one of several steps to grow the firm’s position in corporate finance.

Combining Ripple’s blockchain rails and GTreasury’s software, the new platform’s goal is to simplify treasury operations. It eliminates settlement delays with payment times of three to five seconds and optimizes yield from working capital 24/7 through tokenized money market funds such as BlackRock’s BUIDL and overnight secure repo markets with RLUSD, according to a Tuesday blog post.

Ripple Treasury also aims to provide “real-time cash positions, automated forecasting, and seamless reporting across traditional cash, digital assets, RLUSD, and XRP holdings,” the blog post stated.

Last year, Ripple filed its national banking license application with the US Office of the Comptroller of the Currency, while the firm’s subsidiary Standard Custody & Trust Company applied for a Federal Reserve master account, which would allow Ripple to hold RLUSD reserves directly with the Fed.

XRP has seen $2.4 billion in trading volume in the last 24 hours, increasing 1.8% in the period. The token’s all-time high was set in July 2025 at $3.65. Meanwhile, spot XRP ETFs had nearly $9.2 million worth of inflows on Tuesday, bringing cumulative inflows to $1.4 billion.

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