Could January See a Tactical Bounce for Crypto?
Dec 22, 2025
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Discussed in today's video:
Strategy dividend risk is effectively eliminated – Strategy’s $750M equity sale was used to build U.S. dollar reserves, now covering ~32 months of interest and dividend obligations. Concerns around forced Bitcoin sales to fund preferred dividends can likely be put to rest. Crypto continues to underperform into year-end – Bitcoin and broader crypto once again lagged equities and gold, consistent with typical Santa Rally dynamics in which investors sell losers and add to winners. Flows and activity remain extremely muted – Spot volumes are low, t...