The Daily: Strategy’s $12.75 billion balance sheet boost, Ethereum faces ‘intense competition’ and more
2025-02-07
Category: None

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! After MicroStrategy said let's drop the "Micro," just "Strategy," it's cleaner, in yesterday's rebrand and reported fourth-quarter losses, its financials could be poised for a turnaround.
In today's newsletter, Bernstein analysts outline why Strategy is about to get a $12.75 billion boost to its balance sheet, JPMorgan says Ethereum is likely to keep facing "intense competition" from other networks, Sygnum forecasts that a Strategic Bitcoin Reserve could trigger a $20 billion market cap surge and more.
Meanwhile, Trump's media company files trademarks for a Made in America ETF, a Bitcoin Plus ETF and more investment products.
Let's get started.
Strategy's $12.75 billion balance sheet boost
Strategy (formerly MicroStrategy) is set for a $12.75 billion boost to its balance sheet after adopting new FASB fair value accounting rules for its bitcoin holdings, analysts at research and brokerage firm Bernstein said.
Ethereum faces 'intense competition'
While the broader crypto market surged since the U.S. election, ether has lagged behind — not only underperforming bitcoin but also other altcoins.
Bitcoin reserve could trigger $20 billion market cap surge
Sygnum’s Head of Investment Research, Katalin Tischhauser, forecasts that in a scenario where the U.S. purchases bitcoin for a strategic reserve, each $1 billion buy could trigger a $20 billion market cap multiplier effect.
Satoshi may have still been active onchain as late as 2014
Coinbase director Conor Grogan claims to have identified wallets belonging to Satoshi Nakamoto, showing Bitcoin's pseudonymous creator was still active onchain as late as 2014.
BNB Chain's test memecoin surges to $52 million market cap after CZ post
A test memecoin on BNB Chain (TST) surged to a market cap of approximately $52 million after Binance founder and former CEO Changpeng "CZ" Zhao posted about it on X before dropping back to around $8 million.
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