Here’s what happened in crypto today

Today in crypto, Michael Saylor’s recently rebranded “Strategy” reported a $670 million net loss in Q4 amid an aggressive Bitcoin stacking spree. BlackRock is launching a European Bitcoin ETF and the Trump administration plans to regulate stablecoins — prioritizing USD-backed assets.

MicroStrategy, now ‘Strategy,’ records $670M net loss in Q4

Bitcoin stacking firm Strategy — which has just rebranded from MicroStrategy — reported a net loss of $670.8 million for the fourth quarter as the firm stacked an additional 218,887 Bitcoin.

On Feb. 5, Strategy reported $120.7 million in revenue in the fourth quarter, marking a 3% year-on-year fall that missed analyst estimates by about $2 million.

The firm’s expenses for Q4 rose nearly 700% year-on-year to $1.1 billion as it started executing its $42 billion “21/21 Plan” aimed at buying more Bitcoin BTCUSD. 

Strategy said it has already completed $20 billion of that $42 billion capital plan, fueling its Bitcoin buying spree largely through senior convertible notes and debt.

The company’s Bitcoin holdings now sit at 471,107 Bitcoin, worth over $45 billion, the largest of any corporation in the world.

BlackRock to launch Bitcoin ETP in Europe — Report

BlackRock, the world’s largest asset manager, is preparing to launch a Bitcoin (BTC) exchange-traded product (ETP) in Europe, according to a Feb. 5 report by Bloomberg.

The move comes after BlackRock’s US spot Bitcoin exchange-traded fund (ETF), iShares Bitcoin Trust (IBIT), drew upward of $57 billion in net assets after launching in January 2024. BlackRock’s IBIT fund is America’s most popular spot Bitcoin ETF.

BlackRock’s European Bitcoin ETP will reportedly be domiciled in Switzerland. The asset manager plans to start marketing the fund as soon as this month, Bloomberg said, citing people familiar with the matter.

BlackRock is a top ETF issuer, with $4.4 trillion in assets under management (AUM) across its suite of ETPs. This would be BlackRock’s first Bitcoin ETP outside of North America, Bloomberg said.

US wants to bring stablecoins onshore, Trump’s crypto czar says

US President Donald Trump’s administration has confirmed plans to regulate and bring stablecoin innovation onshore, according to Trump’s crypto czar, David Sacks.

Stablecoins are one of the key areas of focus for the Trump administration, alongside Bitcoin (BTC) adoption and blockchain development, Sacks said on CNBC’s Closing Bell Over Time on Feb. 4.

The stablecoin market “has already taken off but mostly offshore,” Sacks said, adding that the US now wants to “bring that innovation onshore.”

Stablecoins are a $227 billion industry, with 97% of its market comprising US-pegged stablecoins like Tether’s USDt (USDT). USDT alone accounts for more than 60% of the total stablecoin market capitalization, according to data from CoinGecko.

“I think the power of stablecoins is that it could extend the dollar’s dominance internationally and extend it online digitally,” Sacks said.

According to Trump’s crypto czar, stablecoins could create “potentially trillions of dollars” of new demand for US Treasurys, which could help support its debt and bring down long-term interest rates.