Strategy Stock Crashes as Bitcoin Drops

CRYPTO
Strategy Stock Crashes as Bitcoin Drops

Shares of Strategy, the software company turned corporate crypto investor, have nearly erased all gains since Trump’s election, as investors pull back from risky assets amid economic concerns.

The stock dropped 9% Monday to $239, far from its mid-November peak of $474. Often seen as a Bitcoin proxy, Strategy has accumulated nearly 500,000 Bitcoins—worth over $40 billion—since 2020 by leveraging debt and stock sales. In October, it announced plans to raise $42 billion by 2027 to continue buying Bitcoin.

Bitcoin has fallen over 25% from its $109,000 peak in January, pressured by Trump’s new tariffs on Canada, Mexico, and China, which investors fear will drive inflation higher. He also declined to rule out a recession, fueling uncertainty.

Strategy’s decline was further triggered by Trump’s executive order limiting national crypto reserves to seized assets, dashing speculation that the government would buy Bitcoin. Analyst Mark Palmer attributes the slump to weak institutional adoption and a broader risk-off environment.

TECH
ChatGPT Surges Past 400M Users

OpenAI is experiencing skyrocketing demand, with ChatGPT recently surpassing 400 million weekly active users, according to Oliver Jay, the company’s managing director of international strategy. Speaking at CNBC’s CONVERGE LIVE in Singapore, he described the surge as a “rollercoaster,” emphasizing the rapid adoption of AI across industries.

Singapore leads globally in per-capita ChatGPT usage, reflecting the widespread embrace of AI. Unlike past tech shifts like SaaS or cloud computing, which had phased adoption, AI is being integrated “everywhere all at once,” Jay noted.

OpenAI, co-founded by Elon Musk and Sam Altman in 2015, is backed by major investors, including Microsoft. The company’s AI-powered chatbot, ChatGPT, uses deep learning to generate human-like responses and is already transforming businesses, education, and development.

“AI is not a mystery—it’s ready,” Jay said, underscoring its growing role in global markets and the accelerating pace of adoption.

TECH
Intel Names Lip-Bu Tan CEO

Three months after Intel ousted its previous CEO, the company has appointed Lip-Bu Tan as its new leader. Investors responded positively, pushing Intel’s stock up over 10% in after-hours trading.

Tan, a semiconductor veteran and former CEO of Cadence Design Systems, brings deep expertise in both chip design and manufacturing. However, his selection raises questions about Intel’s direction. The company has long struggled with tough decisions—whether to focus on chip design or manufacturing, and how to compete in AI.

While Tan is technically an outsider, he served on Intel’s board from 2022 to 2024, during a turbulent period. His leadership offers flexibility—avoiding a drastic split of Intel’s chip-making business while still hinting at AI ambitions.

His message to employees emphasized doubling down on strengths, taking calculated risks, and improving execution. Whether his balanced approach is enough to revive Intel’s fortunes will be a key storyline in 2025.

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