Helene is a New York-based reporter covering Wall Street, the rise of the spot bitcoin ETFs and crypto exchanges. She is also the co-host of CoinDesk's Markets Daily show. Helene is a graduate of New York University's business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.
Michael Saylor's MicroStrategy, whose stock price has tripled this year, topped Coinbase as the biggest crypto stock.
"MicroStrategy shareholders are a unique cohort. Typically, when shareholders get diluted, this is a bad thing," said CoinDesk senior analyst James Van Straten.On Wednesday, his company announced it would issue and then sell $21 billion of its own stock — a move that, for most any other publicly traded company — would prove disastrous for current shareholders.
MicroStrategy's rally"is a testament to investor confidence in the firm's accretive dilution strategy for bitcoin — wherein MicroStrategy leverages capital markets to buy bitcoin, diluting shares by issuing more, but accreting shareholder value via its bitcoin purchases," said Joe Consorti, head of growth at Theya.
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