GM Explorer,

Michael Saylor's MicroStrategy has been snapping up Bitcoin like kids grabbing candy on Halloween.

And despite the market's ups and downs, they seemed untouchable, but not anymore!

Here’s what we got for you today:

• 📉 Bitcoin crash sinks MicroStrategy’s value!

• 😱 How Japan’s rate hike shook global markets!

• 🧱 Around The Block: Solana price plunges 30% in a week—and its biggest meme coins are down worse.

📉 Bitcoin Crash Sinks MicroStrategy’s Value!

Over the weekend, MicroStrategy took a massive hit, losing more than a quarter of its value!

What happened? The Bitcoin dump happened!

Bitcoin’s price dropped by 20%, and that was enough to send MicroStrategy’s stock plummeting from $1,447.99 to $1,044.97 in just one weekend.

That, my friends, is a whopping 27.8% drop, equating to about $7.37 billion lost. Ouch!

But the drop in Bitcoin isn’t all to blame, though:

MicroStrategy also announced a $2 billion debt offering, which diluted shareholders' value massively.

Fortunately, the stock has bounced back a bit, recovering about half of those losses.

And what does Saylor have to say? Well, nothing beyond his usual praise for Bitcoin.

However he’s made a bold move:

MicroStrategy is planning a 10:1 stock split effective Wednesday in the hopes of attracting more investors with a cheaper stock price.

Will this strategy pay off? Guess we’ll have to wait and see.⏳

You can read the full report here. 

😱 How Japan’s Rate Hike Shook Global Markets!

The Bank of Japan surprised everyone by raising interest by 0.25% on July 31—its second shift from zero since 2007!

And that single decision sent shockwaves through crypto and global markets, with assets selling off faster than you can say, Jack Robinson.

Bitcoin briefly dropped below $50,000, the lowest it has been since February 2024, while ETH hit eight-month lows just above $2,100 yesterday.

However, as of this writing, Bitcoin is trading at $55,922.06, while ETH is at $2,524.74.

So, what do analysts make of this?

Greg Mandini, Director of Derivatives for Amberdata, who has followed Japan's economic situation for nearly two decades, believes that Japan should not bear all the blame alone.

According to him, Japan is the spark, but there are riots in the U.K., a potential war in the Middle East, and uncertainty in the elections in the U.S. that are kindling the fire.

Even the September rate cuts by the US Federal Reserve and Jump Crypto’s massive asset transfers are factors to consider!

He also says that this crisis should be short-lived and could even be a great buying opportunity for investors.

Buying opportunity? Perhaps yes, but could it be the start of a major crisis?

Michael Gayed, mutual fund portfolio manager, seems to think so. He warns of a possible major crisis akin to the 2008 Global Financial Crisis.

Dive into more intriguing details here.

🧱 Around The Block

• Solana price plunges 30% in a week—and its biggest meme coins are down worse.

• Dogecoin (DOGE) price plummets to become the worst-performing coin in the top 10.

• Bitcoin ETFs see almost $3b in volume in the first hour of trading after global market meltdown.

• SEC asks NY court to deny Coinbase’s ‘breathtakingly broad’ subpoena request.

• US legislators call for CFTC crackdown on election gambling as Polymarket betting hits ATHs.

• Crypto candidate in Arizona is winning (so far) despite Sen. Warren's headwinds.

That's all we've got for you today.

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Catch you soon.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions.