# Strategy Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Strategy", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Tiger Research: Three Strategies for Financial Institutions to Keep Up with the Tokenization Wave

Tiger Research's in-depth report analyzes the strategic choices for financial institutions entering the rapidly growing Real-World Asset (RWA) tokenization market. With the market projected to be worth $25-36 billion and a lack of complete regulatory frameworks in many jurisdictions, institutions face three options: waiting for domestic legislation, using regulatory sandboxes for limited experiments, or moving first into established overseas markets to gain a competitive edge. Tokenization is not magic; it requires meticulous preparation. Before entry, institutions must strategically plan across six core areas: choosing a jurisdiction, obtaining necessary licenses, defining the asset type, targeting the appropriate investor base, selecting settlement currencies, and designing operational requirements like custody and governance. The report outlines two main operational paths. The first is a direct jurisdictional path, establishing a legal presence in mature markets like Hong Kong, Singapore, or the U.S., often leveraging local licensed platforms to accelerate market entry. The second is a chain-native path, using platforms like Ondo or Plume that are built with regulatory compliance embedded, allowing for faster, more flexible market access without being tied to a specific jurisdiction. Ultimately, the report advises against waiting for perfect regulation. The preparation process can take 6-12 months and requires thorough legal review. Using the example of a mid-sized securities firm, it details steps from evaluating existing entities to final execution. The core message is that accumulating real-world operational experience is paramount, as the market is moving ahead and will not wait for latecomers.

Foresight News2 days ago 11:01

Tiger Research: Three Strategies for Financial Institutions to Keep Up with the Tokenization Wave

Foresight News2 days ago 11:01

Tiger Research: Take RWA Tokenization Overseas First

This article discusses the strategic choices facing financial institutions in jurisdictions lacking mature regulatory frameworks for Real-World Asset (RWA) tokenization. With the market growing rapidly, institutions must choose between waiting for local legislation, using regulatory sandboxes, or—the recommended priority—expanding into overseas markets to gain early experience. Successfully launching cross-border RWA tokenization requires meticulous preparation across six key areas: establishing an overseas base (e.g., Hong Kong, Singapore, the U.S.), securing necessary licenses, defining the tokenized asset (with bonds being simpler than non-standard assets), defining the target investor scope, deciding on settlement currencies/payment flows, and designing operational requirements like custody and on-chain governance. The article outlines two primary strategic paths: a direct "onshore" path and a "native on-chain" path. The direct path involves setting up a legal entity and obtaining licenses in a mature jurisdiction like Hong Kong, Singapore, or the U.S., leveraging existing platforms (e.g., DigiFT, Securitize) for efficiency. The alternative native on-chain path involves partnering with compliant, decentralized platforms (e.g., Ondo, Plume Nest) that use structures like offshore SPVs to facilitate tokenization and access DeFi liquidity, offering speed and broader reach but with greater structural complexity. The core argument is that institutions should not wait for perfect domestic regulation. A detailed hypothetical case study illustrates the multi-step, 6-12 month process of launching an overseas tokenized bond. The key takeaway is that the essence of a tokenization business lies not in the technology but in successfully executing the entire sales and operational process. The market is moving forward, and the time to act is now.

marsbit07/07 07:52

Tiger Research: Take RWA Tokenization Overseas First

marsbit07/07 07:52

Blood Loss of $55 Million Selling 3,588 BTC, Strategy Becomes a Literal Scumbag

On July 6th, Strategy (formerly MicroStrategy) disclosed in an SEC filing that it sold 3,588 Bitcoin (BTC) between June 29th and July 5th for approximately $216 million, at an average price of ~$60,200. This marked the company's largest net sale since initiating its Bitcoin strategy in 2020 and its first institutionalized reduction of its core holding. The sale resulted in a realized loss of about $54.8 million, as the selling price was below its average cost basis of ~$75,476 per BTC. The proceeds were used to pay preferred stock dividends and replenish USD reserves. This move follows a new "Digital Credit Capital Framework" approved on June 29th, authorizing the sale of up to $1.25 billion in Bitcoin. The sale consumes roughly 17% of this authorized amount in its first week. Strategy's foundational narrative, built by founder Michael Saylor, was a commitment to "never sell" Bitcoin. The recent institutionalized selling framework and these substantial sales represent a significant shift from that original promise. While the amount sold is only 0.4% of Strategy's total holdings of 843,775 BTC, the action challenges the premium at which its stock (MSTR) trades relative to its Bitcoin holdings. Investors had priced in the "never sell" narrative. The company now faces a contradiction: it sells Bitcoin at a loss to pay dividends on the preferred stock it issued to fund Bitcoin purchases. Saylor has framed selling as a tool for future strategic purchases, but each sale erodes the credibility of the original commitment, potentially threatening the premium valuation of MSTR shares.

Foresight News07/07 06:05

Blood Loss of $55 Million Selling 3,588 BTC, Strategy Becomes a Literal Scumbag

Foresight News07/07 06:05

Ripple RLUSD Beta Tests Put XRP Ledger Stablecoin Strategy Back In Focus

Ripple is preparing beta tests for its dollar-backed stablecoin, RLUSD, which is planned for launch on both the XRP Ledger and Ethereum. This move brings the company's enterprise payments strategy back into focus. RLUSD is designed to complement Ripple's existing settlement products, not replace XRP, which will continue to serve as a bridge asset. The stablecoin aims to provide institutions with a dollar-denominated instrument for settlement and liquidity management within Ripple's network. For the XRP Ledger, RLUSD represents a significant utility test, potentially supporting trading pairs, payments, and DeFi activity. Its success will depend on factors like exchange support, issuer trust, and regulatory acceptance. Ripple is entering a competitive stablecoin market but leverages its existing enterprise relationships and distribution channels. The beta phase is a critical step to watch as Ripple seeks to establish a more direct role for XRPL in regulated dollar liquidity.

bitcoinist07/07 03:07

Ripple RLUSD Beta Tests Put XRP Ledger Stablecoin Strategy Back In Focus

bitcoinist07/07 03:07

Strategy executes first Bitcoin sale under new treasury framework to fund dividends

Strategy has sold 3,588 Bitcoin for approximately $216 million, executing its newly adopted Digital Credit Capital Framework for the first time. The sale was conducted to fund dividends on the company's Digital Credit securities. This transaction reduced Strategy's Bitcoin holdings to 843,775 BTC. The recently introduced framework authorizes limited Bitcoin sales to support corporate purposes like building U.S. dollar reserves, paying dividends, and funding share repurchases, while aiming to preserve the company's long-term Bitcoin exposure. This move represents a strategic shift, integrating Bitcoin as a source of liquidity within its treasury management, rather than a departure from its accumulation strategy.

ambcrypto07/06 14:54

Strategy executes first Bitcoin sale under new treasury framework to fund dividends

ambcrypto07/06 14:54

Losing $55 Million to Sell Bitcoin, MicroStrategy's Faith Reaches Its Interest Payment Day

On July 6th, Michael Saylor's MicroStrategy announced the sale of 3,588 BTC for approximately $216 million, incurring a realized loss of around $55.45 million compared to its average cost basis. This move, contradicting Saylor's long-standing "never sell" Bitcoin philosophy, was executed to pay dividends on its digital credit securities. The article traces this shift from a small "desensitization test" sale of 32 BTC in late May to the board's authorization on June 30th to sell up to $1.25 billion in Bitcoin for corporate purposes like dividends and buybacks. Analysis reveals that MicroStrategy's previous growth "flywheel"—using stock premiums to fund more Bitcoin purchases—has stalled. With its stock trading near a critical threshold (1.22x its Bitcoin NAV), issuing new shares would dilute value. Simultaneously, its financing channels (preferred stock, common stock ATM, convertible notes) are constrained while facing rigid annual dividend/interest obligations of roughly $1.76 billion. Consequently, selling Bitcoin became the calculated "optimal solution" under its own financial model. This transforms MicroStrategy from crypto's most prominent steady buyer into a predictable seller, creating a potential overhead of ~2,400 BTC in monthly selling pressure if obligations are fully covered by sales. This shift challenges the valuation models of the entire Digital Asset Treasury (DAT) sector that emulated MicroStrategy. The company's path forward now hinges on Bitcoin's price recovery, which would allow its preferred stock to trade at par and reopen its financing flywheel, creating a cyclical dependency between the firm's financial model and the asset it holds.

链捕手07/06 14:30

Losing $55 Million to Sell Bitcoin, MicroStrategy's Faith Reaches Its Interest Payment Day

链捕手07/06 14:30

‘May not resolve structural issues’ – Galaxy opposes JPMorgan’s dilution plan for Strategy

Galaxy Research responded to Strategy's new $1.25 billion Bitcoin monetization plan, acknowledging it as a smart move that boosted market sentiment, as seen in rising stock prices. However, Galaxy's Head of Research, Alex Thorn, cautioned that the plan does not resolve the firm's underlying structural risks, including large recurring obligations and upcoming convertible debt maturities. Thorn proposed a "middle ground" alternative: instead of selling BTC or diluting equity (MSTR), Strategy could generate income from its 847,363 BTC treasury through methods like BTC lending or options strategies on a limited portion of its holdings. This approach, tested by firms like Metaplanet, aims to address cash-flow concerns without selling assets or affecting shareholders. This contrasts with JPMorgan's recommendation to build a longer 2-3 year cash reserve buffer by selling more MSTR shares. Galaxy argues its proposal would raise necessary cash flow while better managing risks and preserving the Bitcoin treasury.

ambcrypto07/04 15:02

‘May not resolve structural issues’ – Galaxy opposes JPMorgan’s dilution plan for Strategy

ambcrypto07/04 15:02

JP Morgan thinks Strategy’s Bitcoin sales policy is a ‘two-way risk’ – Details!

JPMorgan has raised concerns about MicroStrategy's revised Bitcoin strategy, labeling it a 'two-way risk'. The company, long known for aggressively buying and holding Bitcoin using raised capital, has now formally authorized limited Bitcoin sales to cover financial obligations like preferred stock dividends. While its current cash reserves cover about 17 months of costs, JPMorgan analysts argue a 24-36 month buffer is needed to reassure investors that future Bitcoin sales are unlikely. This shift introduces uncertainty, as MicroStrategy is no longer a guaranteed net buyer and could become a source of Bitcoin supply. The psychological impact of this policy change is significant, occurring amid net outflows from U.S. Spot Bitcoin ETFs and price struggles. The article suggests hope may lie in the potential approval of the CLARITY Act to restore market stability.

ambcrypto07/04 06:01

JP Morgan thinks Strategy’s Bitcoin sales policy is a ‘two-way risk’ – Details!

ambcrypto07/04 06:01

Trump's Financial Disclosure Teaches You the Most Underrated Tax Optimization Strategy

Forbes article analyzes tax optimization strategies based on Trump's recent financial disclosures, highlighting his crypto holdings. Key insights reveal that holding appreciated assets like his $50M+ Bitcoin and multi-million dollar Ethereum allows indefinite deferral of capital gains taxes under U.S. law. Taxable events only occur upon disposal (sale, trade, spend). Conversely, certain activities create immediate tax liability. Trump reported ~$510,808 in staking rewards and ~$45,932 in USDC interest, both treated as ordinary income taxed in the year received. The IRS views staking rewards as income at fair market value upon receipt. Other reported income includes $635M in memecoin royalties, NFT licensing fees (ordinary income), and $236.25M from token/equity sales (capital gains). Long-term holdings qualify for lower capital gains rates. The article concludes that the simplest, most overlooked tax strategy is straightforward: hold assets without selling to defer taxes on unrealized gains indefinitely. This principle applies to all crypto investors regardless of portfolio size.

Foresight News07/03 07:50

Trump's Financial Disclosure Teaches You the Most Underrated Tax Optimization Strategy

Foresight News07/03 07:50

Metaplanet flips MARA with 43K BTC, but can it still reach 100K?

Japanese firm Metaplanet has become the world's third-largest corporate Bitcoin treasury, surpassing Marathon Digital (MARA) with holdings of 43,000 BTC. While receiving praise from MicroStrategy's Michael Saylor, the article questions whether Metaplanet can achieve its ambitious target of 100,000 BTC by the end of 2026. Its accumulation pace has slowed, with only about half the purchases in Q2 compared to previous quarters. The broader Bitcoin treasury sector showed mixed demand in the first half of 2026, with a peak in April followed by a significant slowdown by June as BTC's price struggled. Some firms, like Riot Platforms and K Wave Media, have reduced or exited their Bitcoin holdings to fund other ventures like AI infrastructure or debt repayment.

ambcrypto07/03 05:33

Metaplanet flips MARA with 43K BTC, but can it still reach 100K?