# Capital İlgili Makaleler

HTX Haber Merkezi, kripto endüstrisindeki piyasa trendleri, proje güncellemeleri, teknoloji gelişmeleri ve düzenleyici politikaları kapsayan "Capital" hakkında en son makaleleri ve derinlemesine analizleri sunmaktadır.

The U.S. AI Capital Gamble Bets the Fate of the Dollar

The U.S. is making an unprecedented bet, mobilizing capital to deeply bind the AI race with dollar hegemony. This aggressive strategy involves fueling AI infrastructure through open capital markets, reshaping the global accessibility of dollar assets via blockchain technology, and using AI leadership to reinforce the dollar's status. However, this model carries inherent fragility—**the dollar is increasingly behaving like a high-risk stock rather than a traditional safe-haven asset.** Massive capital is flowing through three channels: private equity, public debt, and stock markets. AI venture funding has surpassed $400 billion this year, while major tech giants have raised debt at roughly ten times the 2020-2024 annual average. To finance soaring AI capital expenditures amid large twin deficits, the U.S. is attracting record foreign equity inflows, which have now surpassed traditional debt inflows. Concurrently, the U.S. is advancing asset tokenization—converting traditional assets into blockchain-based digital tokens—as a new technological pillar for dollar dominance. With regulatory backing, initiatives by DTCC and major exchanges aim to enable 24/7 trading and instant settlement, potentially lowering global investment barriers and expanding demand for dollar assets. This dual gamble is reshaping the dollar's risk profile. As funding shifts from official, long-term capital to private, short-term tech capital, the dollar's correlation with equities is rising, weakening its historical role as a risk hedge. **The dollar's fate is now tied to the outcome of the AI race.** If AI business models fail or U.S. leadership falters, large-scale private capital outflows could severely pressure the dollar. Furthermore, while tokenization eases capital inflow, it also simplifies rapid outflows. The report frames this as a stress test for the U.S. "shareholder capitalism" model itself. Its viability depends on a virtuous cycle: open markets attract global capital → massive investment drives AI innovation → technological lead ensures pricing power → high profits attract more capital. The sustainability of this cycle hinges on AI firms generating sufficient economic returns and maintaining pricing power internationally. The outcome will test the core belief that free, open capital markets yield optimal innovation and will significantly influence the dollar's future as the global capital hub.

marsbit2 gün önce 03:05

The U.S. AI Capital Gamble Bets the Fate of the Dollar

marsbit2 gün önce 03:05

The New MicroStrategy? How Does Strive Use Warrants to Create a Bitcoin-Buying Flywheel?

Strive (ASST) stock approached $27 in early September, a critical level tied to warrants expiring in mid-October. If ASST sustains above $27, warrant holders are expected to exercise, injecting ~$700 million into the company. Combined with ~$700 million in potential digital credit, this gives Strive $1.4 billion in potential Bitcoin purchasing power. Strive has rapidly grown its BTC holdings to 23,156, ranking it fifth among public companies. CEO Matt Cole, leveraging his capital markets background, has built a unique financial structure to fuel further growth. Unlike MicroStrategy, which uses convertible bonds, Strive's capital consists only of common stock (ASST) and perpetual preferred stock (SATA). SATA offers a 13% annual dividend paid daily from 2026, providing Strive with permanent capital without maturity dates. The core mechanism is a self-reinforcing "warrant flywheel": a rising ASST price triggers warrant exercises, generating cash to buy more BTC, which boosts the company's profile and stock price, potentially triggering more warrant exercises. Cole has stated Strive could become the world's second-largest public BTC holder by end-2026. A key test arrives in six weeks. With ~30% of ASST's float sold short, a battle is set between shorts and warrant holders. If ASST fails to hold above $27 by mid-October, the warrants expire worthless, stalling the flywheel. Strive's model highlights that in the BTC treasury arena, innovative capital structure is becoming as crucial as the asset itself.

marsbit2 gün önce 02:56

The New MicroStrategy? How Does Strive Use Warrants to Create a Bitcoin-Buying Flywheel?

marsbit2 gün önce 02:56

SEC Chair Paul Atkins Unveils New Rules to Bring Crypto Firms Back to the U.S.

SEC Chair Paul Atkins has unveiled new rules, termed Regulation Crypto Assets, aiming to address years of regulatory ambiguity and bring cryptocurrency firms and innovation back to the United States. Atkins criticized the previous administration's aggressive enforcement, which he claims drove fundraising efforts overseas, and emphasized that founders need clear guidance rather than legal battles. The new framework seeks to regulate through tailored enforcement, acknowledging that old securities laws failed to consider the unique features of digital assets, thereby hindering capital formation. Key proposals include regulatory exemptions to lower barriers for crypto companies and a push for clear guidelines. Atkins stressed that current enforcement cannot be a permanent solution and that Congressional legislation, specifically the pending CLARITY Act, is crucial for establishing lasting rules and statutory boundaries for the SEC and CFTC. The initiative prioritizes capital formation within the U.S., aiming to boost investor confidence and provide domestic access to digital asset opportunities, thereby keeping investment and innovation onshore. Atkins views the new SEC rules and the CLARITY Act as complementary parts of a broader effort to create a clearer and more welcoming crypto market in America.

TheNewsCrypto09/03 12:45

SEC Chair Paul Atkins Unveils New Rules to Bring Crypto Firms Back to the U.S.

TheNewsCrypto09/03 12:45

Musk: The AI Tsunami Has Arrived, Drying Up the World's Lifesaving Money

Musk Warns: The AI Riptide Is Already Underway. Elon Musk has amplified a warning about an "AI riptide"—a powerful undercurrent that is already reshaping the global economy. The core issue is a massive capital shift driven by the explosive growth of artificial intelligence. Over the past year, global AI inference token usage has surged 25-fold, not 25%. Ark Invest's Cathie Wood notes that leading AI labs have seen revenues multiply 5-10x within 6-12 months, pulling even adjacent companies into high growth. This signals the rapid approach of Artificial General Intelligence (AGI) and a potential technological singularity. In anticipation, capital is being sucked into AI infrastructure at an unprecedented rate. Ark's Brett Winton argues that the incredibly short payback periods and high internal rates of return for AI investments are creating a "capital black hole." This capital is being redirected from virtually every other sector. AI companies, building data centers and buying GPUs, can tolerate higher financing costs and even use chips as collateral. This makes them attractive to both equity and debt markets, draining investment from traditional industries. The consequence is a severe capital and talent squeeze for non-AI businesses. Their financing costs soar, stock valuations plummet, and they struggle to refinance debt or retain talent, entering a death spiral. As Musk and Wood agree, the market is now starkly dividing companies into "Oh YES" (AI-aligned) and "Oh NO" (everyone else) categories. The final warning is stark: AI may eliminate many traditional businesses not through direct competition, but simply by starving them of the capital and resources—the "oxygen"—they need to survive. This transition, likened to a tidal force far greater than the industrial or internet revolutions, is already underway.

marsbit09/03 05:51

Musk: The AI Tsunami Has Arrived, Drying Up the World's Lifesaving Money

marsbit09/03 05:51

Sell at $60K, Buy at $80K: Why This Paradox Works for MicroStrategy

MicroStrategy CEO Phong Le explained in a Bloomberg TV interview that the company does not base its decisions to buy or sell bitcoin on the asset's price, but rather on the cost of capital. This approach, according to Le, made selling coins in the $60,000-$65,000 range and later buying at $80,000 equally sound moves. The sale of roughly 7,000 BTC to fund part of a preferred stock dividend was "correct at the time." Over the past two months, the firm has reduced its net debt to zero and built substantial dollar reserves, strengthening its balance sheet. Le stated MicroStrategy now intends to sell MSTR shares at a premium to fund new bitcoin purchases, adhering to a "two-way strategy" that involves selling when financially prudent while remaining a net long-term buyer. He expressed willingness to buy at prices up to $130,000 per coin if the deal economics remain attractive. This comes as the company, led by Executive Chairman Michael Saylor, resumed large-scale bitcoin purchases last week after an almost two-month pause, acquiring 4,603 coins for $369.7 million at an average of $80,318 each. The purchase was funded by a $602.8 million common stock offering. MicroStrategy now holds 845,050 bitcoins acquired for a total of $63.73 billion, averaging $75,412 per coin. The pause was used to stabilize its balance sheet amid a difficult market period where its bitcoin reserve was underwater, a situation reversed when bitcoin's price rose above $80,000. An analysis notes that while Le's confidence is clear, MicroStrategy's model depends not on bitcoin's price but on investors' willingness to pay a premium for MSTR shares over the value of its bitcoin holdings—a historically volatile metric. The core cyclical risk of its financing mechanism remains: the company profits while the market values its stock above its reserve's value and may need to sell assets if that premium vanishes for an extended period.

cryptonews.ru09/02 08:21

Sell at $60K, Buy at $80K: Why This Paradox Works for MicroStrategy

cryptonews.ru09/02 08:21

Investor Interest in Ethereum-Based ETFs Persists, Net Inflows Continue for 11 Days! Here Are the Details

U.S.-listed spot Ethereum ETFs continue to attract investor interest, with a net inflow of $87.68 million recorded on August 31, extending the streak of daily net inflows to 11 consecutive days. BlackRock's iShares Ethereum Trust (ETHA) led with a daily inflow of $59.94 million, bringing its total net inflow since launch to $12.797 billion. Grayscale's Ethereum Mini Trust followed with a net inflow of $13.50 million, raising its cumulative historical net inflow to $1.924 billion. The total net asset value for U.S. spot Ethereum ETFs reached $15.614 billion, representing 5.23% of Ethereum's total market capitalization. Since their launch, these ETFs have seen a cumulative net inflow of $13.062 billion. The sustained 11-day inflow streak highlights continued demand from institutional and traditional finance investors for Ethereum exposure. While persistent ETF inflows are seen as a potential support factor for spot market demand, investors are monitoring fund flows closely for signals on price direction.

cryptonews.ru09/01 08:21

Investor Interest in Ethereum-Based ETFs Persists, Net Inflows Continue for 11 Days! Here Are the Details

cryptonews.ru09/01 08:21

Why Are Crypto Treasury Companies Buying Bitcoin and Ethereum Again?

Crypto treasury firms Strive, BitMine, and Strategy have all announced significant new cryptocurrency purchases. In one week alone, Strive and Strategy invested over $500 million in Bitcoin. Strive purchased an additional 1,800 BTC at an average cost of $79,431, bringing its total holdings to 23,156 BTC. The company funds its purchases by issuing new shares, a core part of its business model that performs well when crypto prices rise. Despite the large purchase, its cash reserves increased to $183.5 million. BitMine acquired 53,501 ETH, marking its 65th consecutive week of buying. The company stakes 86% of its 5,067,309 ETH holdings through its network, generating an estimated $335-390 million in annual yield. It now holds 4.9% of Ethereum's total supply. Strategy resumed buying after a 10-week pause, adding 4,603 BTC with an average cost basis of $75,412. This buying spree follows a major shift in ETF flows. After outflows in June, U.S. Bitcoin spot ETFs saw over $3.3 billion in net inflows in August. Ethereum ETFs also reversed course with approximately $1.75 billion in inflows, their strongest since last October. Rising crypto prices boost the share prices of these treasury firms, enabling them to raise more capital to buy more crypto, creating a feedback loop. Contrary to speculation about a rotation from AI stocks, data shows the AI sell-off peaked in July. August saw improved market sentiment, with the Nasdaq 100 gaining 4.2%. Other indicators, like surging trading volume on Korea's Upbit exchange, point to capital moving into crypto. Supportive U.S. regulatory developments, such as the upcoming vote on the CLARITY Act, also contributed to the positive environment. For these companies, the primary constraint to continued buying is not falling crypto prices, but the closure of their capital-raising channels.

marsbit09/01 02:31

Why Are Crypto Treasury Companies Buying Bitcoin and Ethereum Again?

marsbit09/01 02:31

Behind the Trillion-Dollar Capital Gamble: Time is Becoming the Counterparty to AI

Amidst unprecedented capital investment in AI, a trillion-dollar "gamble" is unfolding where time itself is becoming the opposing force. Recent events illustrate the volatility and profound uncertainty underlying this rush. In July 2026, hedge fund Situational Awareness, founded by Leopold Aschenbrenner and heavily leveraged on AI hardware stocks like Sandisk, lost $35 billion in a month as a market selloff triggered massive declines, highlighting the irrational human foundations of even AI-augmented markets. Simultaneously, the regulatory landscape is shifting dramatically. Social media addiction lawsuits in the US have exploded, with major platforms like Meta, Snap, TikTok, and Google now facing billions in liabilities. This signals a critical change: the "algorithm is neutral" defense is crumbling for AI, introducing massive legal and governance uncertainties that threaten AI's business models. Financially, the sector is fueled by unsustainable capital intensity. Google reported its first-ever negative free cash flow (-$5.9B) in Q2 2026, while its AI capex is projected to hit $200B. Industry-wide, debt issuance for AI infrastructure could reach $1.5 trillion. Companies like OpenAI and Anthropic project profitability only by 2030, betting on future revenues in the hundreds of billions. This mirrors a national dilemma: the U.S. faces a looming debt crisis, with interest costs projected to exceed $1 trillion annually, creating pressure to secure technological supremacy through AI. The core paradox is that this historic capital infusion aims to buy time for AI to mature and dominate. However, if the anticipated technological leap or market scale fails to materialize within the narrow window before profitability deadlines or a debt crisis, the simultaneous collapse of both corporate and national financial bets could be catastrophic. The race is not just for technological advantage, but against the clock.

marsbit08/27 09:01

Behind the Trillion-Dollar Capital Gamble: Time is Becoming the Counterparty to AI

marsbit08/27 09:01

Strategy’s $66B Bitcoin machine hinges on capital markets, not BTC price: Report

A recent analysis highlights that the main risk to Strategy's (MSTR) $66.7 billion Bitcoin treasury is not a crash in BTC's price, but a prolonged loss of access to capital markets. The firm holds 840,447 BTC behind $22 billion in debt and preferred claims, requiring it to continually raise fresh capital to service roughly $1.76 billion in annual obligations. A stress test found Bitcoin would need to fall 96% before its holdings couldn't cover its convertible notes. However, the company must still meet its fixed annual charges regardless of Bitcoin's price. If financing conditions worsen, Strategy's accumulation model could reverse, forcing greater reliance on reserves and Bitcoin sales. The company has sold BTC this year to meet obligations but has accumulated far more than it has sold.

cointelegraph08/25 16:56

Strategy’s $66B Bitcoin machine hinges on capital markets, not BTC price: Report

cointelegraph08/25 16:56

Trump-backed crypto project WLFI to obtain U.S. bank license. What’s the purpose

The Trump family-supported cryptocurrency project World Liberty Financial (WLFI) has received preliminary approval to establish a national trust bank in the United States, according to Bloomberg. This status, while limiting activities like lending, would allow the company to issue and service its USD1 stablecoin under federal oversight from the Office of the Comptroller of the Currency (OCC). Currently operating under state law, the move to a federal charter aims to mitigate legal risks from varying state regulations. To obtain the final charter, WLFI must still meet requirements for capital, corporate governance, and auditing. The USD1 stablecoin, launched in spring 2025 and backed by U.S. government bonds, saw its market capitalization exceed $5 billion in early 2026 but has since declined to approximately $3.98 billion. The project's revenue is generated from interest on the treasury bonds backing the stablecoin, meaning growth in the token's issuance increases demand for U.S. debt and potential income for the Trump family as co-founders.

cryptonews.ru08/24 13:16

Trump-backed crypto project WLFI to obtain U.S. bank license. What’s the purpose

cryptonews.ru08/24 13:16

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