On June 15, crypto market cap reached $2.32T as BTC broke $65K and ETH gained 1.48%. DeFi rose 2.9%, but Fear & Greed remained at 20 (Extreme Fear). Key news: MiCA transition deadline, Philippines bans privacy coins, India tax crackdown.
Strategy's Michael Saylor distinguishes between Bitcoin Per Share (BPS) and CEBE BPS, arguing the latter reveals true common equity exposure after senior claims, with liability duration determining risk weight.
Michael Saylor said on X that BPS measures the amount of Bitcoin per common share before senior claims, while CEBE BPS measures it after senior claims. He described CEBE as a conservative risk metric and BPS as a common equity growth metric.
Strategy Chairman Michael Saylor explained two core metrics used in the company’s capital structure analysis: BPS, or Bitcoin Per Share, and CEBE BPS. He described BPS as a growth-oriented measure, while CEBE BPS focuses on the actual per-share Bitcoin exposure remaining for common shareholders after senior claims are deducted.
Michael Saylor said on X that BPS measures the amount of Bitcoin per common share before senior claims, while CEBE BPS measures the amount of Bitcoin per common share after senior claims.
