Galaxy研究主管：Coldcard安全事件冲击比特币社区，行业安全理念或迎转折
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Galaxy Research Head: Strategy Capital's strategy buys time, but structural pressures remain.
PANews reported on July 5th that Alex Thorn, Head of Research at Galaxy, stated that Strategy (MSTR)'s recent capital management reforms have effectively alleviated market concerns about liquidity and preferred stock system pressures in the short term, but are more about "buying time" than fundamentally solving structural problems. Thorn emphasized that the core issue is not whether Strategy has enough BTC (approximately 847,000 coins), but rather that insufficient dollar liquidity is needed to cover preferred stock and capital structure obligations without harming the interests of any party, leading to a squeeze on the interests of various shareholder groups.
The New York lawsuit continues to unfold, alleging that a dormant Bitcoin address transferred 30 BTC worth approximately $1.88 million.
According to a report by Cointelegraph, the Bitcoin address “1KV47” recently completed its first outflow in nearly 15 years, moving 30 BTC (approximately $1.88 million) out of its wallet. This address originally received the Bitcoin in August 2011. This address is one of 39,069 listed addresses in a New York lawsuit where plaintiff “Noah Doe” and two Wyoming companies are seeking ownership of these dormant Bitcoins under New York State lost and found laws. According to data from Alex Thorn, research director at Galaxy Digital, 31 related addresses transferred 17,527 BTC in June, a significant increase from 4,834 BTC in February. Legal experts point out that dormancy does not equate to relinquishing ownership, and the lawsuit's basis is “extremely weak” in the absence of proof of private keys.
Strategy, holding 847,363 BTC, was advised to generate income through lending or options rather than selling BTC.
According to a research report published on July 3rd by Alex Thorn, Head of Research at Odaily Digital, Strategy should explore generating revenue from its BTC holdings rather than directly selling physical BTC. Strategy previously launched a five-part Digital Credit Capital Framework, including a dollar reserve policy, a revised STRC dividend policy, a $1 billion preferred stock buyback mandate, a $1 billion MSTR stock buyback mandate, and a BTC monetization plan, increasing the STRC annual dividend yield from 11.5% to 12%. Strategy currently holds 847,363 BTC and has raised over $1 billion through common stock sales, extending its cash coverage period to approximately 17 months. Thorn stated that Strategy could use a small portion of its BTC for conservative lending or options strategies, generating revenue while retaining most of its upside exposure. Strategy still faces preferred stock obligations and $6.7 billion in outstanding convertible debt maturing in 2027 and 2028. (Bitcoin.com News)
Bitwise Europe Research Head: BTC is likely to bottom out before October, as widely expected by the market.
According to Odaily, André Dragosch, Head of Research for Europe at Bitwise, July appears to be a turning point for BTC, potentially shifting it from a bear market to a bull market. He believes the Federal Reserve might react dovishly if semiconductor stocks reverse sharply from current levels. His base case prediction is that Bitcoin is likely to bottom out before the widely expected October low.
Michael Saylor: If Bitcoin's long-term price increase exceeds 3.3%, BTC capital gains could fund STRC dividends indefinitely.
According to ChainCatcher, Bitcoin Treasuries.NET posted on the X platform that Strategy's Michael Saylor stated that if Bitcoin's long-term price increase exceeds 3.3%, BTC capital gains can fund STRC dividends indefinitely. Even if BTC's annual price increase is 0%, Strategy will still have dividend funds for 31 years.
DeFi researcher Ignas: He is bullish on ETH if the Ethereum Foundation delivers the "simplified roadmap" on time; however, delays coupled with a bear market could be bearish.
According to Foresight News , DeFi researcher Ignas commented on Vitalik Buterin's previously released "simplified Ethereum" roadmap, stating, "If the Ethereum Foundation can deliver on time, I'm bullish on ETH. The roadmap is very attractive because it addresses most of the key demands raised by the community, including L1 reclaiming execution control from L2, privacy protection, quantum resistance, and second-level finality, but the issue of tokenomics remains unaddressed." It also pointed out that the most anticipated part of the roadmap will be implemented after 2028, with the final goal set for 2029. If the Ethereum Foundation (EF) delivery schedule is delayed and the bear market continues, it may negatively impact the price of ETH, as competing projects such as Tempo and Canton are posing a challenge to Ethereum in the areas of real-world assets (RWA) and institutional adoption.