Welcome to Kaupr Today

Good morning! Kaupr doesn’t offer financial advice, but if you’re wondering whether markets are correcting or rebounding, this is a good moment to take a closer look.

In today’s edition, we cover:
♦ Corrections, rebounds and inflows
♦ Treasury companies – not dead after all?
♦ AI, vibe coding, Big Tech and rising workloads
♦ The future of investment platforms and accounting

There are also just 6 days to go until Crypto Adoption Week, with links to our 5 live events running 23–26 March.

Enjoy a focused 5‑minute read!

Morten

Corrections, rebound and inflows

Stock market correction may be in its later stages, says Morgan Stanley’s Wilson

Morgan Stanley strategist Michael Wilson says the latest equity pullback looks “closer to its ending stages in time and price,” noting that about half the Russell 3000 is already down at least 20% from 52-week highs and that the downturn appears mature even though some near-term downside and volatility remain.

Why it matters: He frames the move as a mid‑cycle correction rather than the start of a deep bear market, suggesting investors may be closer to the end of this drawdown than the beginning if earnings and growth hold up.

Source: “Stock market correction close to its ending stages, Morgan Stanley's Wilson says”, Investing.com

Crypto rebound continues as Bitcoin tops USD 72,500, Ethereum jumps past USD 2,170

Bitcoin has pushed above USD 72,500 in a continued rebound, while ether has climbed past USD 2,170, with broader crypto markets trading higher on improved risk sentiment and sustained demand from U.S. spot ETFs and other institutional products. Traders are watching whether BTC can convincingly hold above recent resistance levels and whether ETH can maintain its momentum amid expectations around network upgrades and growing on-chain activity.

Why it matters: The move reinforces the current bullish tone in crypto, with price action in both BTC and ETH suggesting that dip-buying and institutional flows remain strong even as markets test key technical resistance zones.

Source: “Crypto rebound continues as Bitcoin tops US$72,500, Ethereum jumps past US$2,170”, Business Today

US crypto funds lead $1 billion in weekly inflows as positive streak hits three weeks

Digital asset investment products saw around USD 1 billion in net inflows over the past week, marking a third straight week of gains, with U.S.-based crypto funds driving most of the new capital. Bitcoin products captured the bulk of inflows, while ether and a few altcoin funds also attracted fresh money as trading volumes in listed products stayed well above earlier-year levels.

Why it matters: A three-week run of U.S.-led inflows into regulated crypto products signals that institutional and professional investors are cautiously adding risk back into the market, reinforcing the current bullish tone despite ongoing macro and regulatory uncertainty.

Source: “US-based crypto funds lead $1 billion in weekly inflows as positive streak extends to three weeks: CoinShares”, The Block

Treasury companies - not dead after all?

MicroStrategy analysts see ‘central bank of Bitcoin’ role

Bernstein analysts say institutional inflows via ETFs and treasuries are reshaping Bitcoin’s ownership, with MicroStrategy increasingly seen as a “Bitcoin central bank of last resort” thanks to its aggressive accumulation and outsized holdings. They argue this institutional backbone has helped Bitcoin outperform assets like gold and equities during recent geopolitical shocks, even as MicroStrategy’s leveraged bet leaves its stock vulnerable to BTC volatility and index-rule changes.

Why it matters: The story underscores how a single corporate balance sheet has become systemically important to Bitcoin’s market structure, sharpening questions around decentralization, index inclusion and the risks of a quasi‑“central bank” role in a supposedly trustless system.

Source: “Leading analysts reveal new details on MicroStrategy’s ‘central bank’ role”, TheStreet

Metaplanet raises $255 million, targets bigger bitcoin bet

Tokyo-listed Metaplanet has raised around USD 255 million from institutional investors via a new share placement, with attached warrants that could boost total funding to roughly USD 531 million as it leans further into a bitcoin-focused treasury strategy.

Why it matters: Metaplanet is emerging as one of the most aggressive corporate bitcoin accumulators, using equity financing specifically to scale its BTC holdings and hardwire bitcoin into its balance sheet.

Source: “Metaplanet Raises $255 Million, Eyes $531 Million Bitcoin Buying Spree”, Bitcoin Magazine

AI, vibe coding, Big Tech and increased work

Lovable exec says OpenAI and Big Tech are a bigger threat than rival ‘vibe coding’ startups

Lovable’s head of growth Elena Verna says she worries more about “big boys and girls” like OpenAI, Anthropic, Google, Apple and Microsoft than rival vibe coding tools such as Cursor, Replit and Emergent, because their distribution power is unmatched and product differences are narrowing. In a market where coding assistants look increasingly similar, she argues that defensible, predictable distribution will decide the winners.​

Why it matters: The piece casts AI coding tools as a distribution game where startups must not only outgrow each other but also compete with platform giants that can bundle assistants into existing ecosystems, raising the bar for sustainable, standalone growth.​

Source: “Lovable exec says ‘big boys and girls’ like OpenAI and Anthropic worry her more than other vibe coding startups”, Business Insider

AI productivity gains are real – but workers aren’t getting time back

Fortune shows how AI is cutting tasks from hours or weeks to minutes at firms like AES, Dun & Bradstreet, Google and KPMG, but leaders mostly use those gains to ramp up output instead of shortening the workday. Workers often report heavier workloads, mental fatigue and “AI brain fry” as they oversee multiple tools, while large-scale rollouts demand slow, expensive organizational change that keeps humans firmly in the loop.

Why it matters: The story highlights an “AI productivity paradox” where automation expands the volume and scope of work instead of freeing workers, making leadership, culture and upskilling crucial to whether AI feels like liberation or just a faster treadmill.

Source: “The AI productivity paradox: more work, not less”, Fortune

Future investment platforms and accounting

Here is why Nasdaq and the owner of NYSE are putting the $126T equity market on blockchain

Nasdaq and Intercontinental Exchange (ICE), the owner of the NYSE, are preparing to move parts of the USD 126 trillion equity market onto blockchain rails, using tokenization to modernize trading, settlement and ownership while preserving core shareholder rights. Their plans would let listed companies issue tokenized shares and tap crypto-native platforms for global distribution and closer-to-24/7 markets.​​

Why it matters: The piece casts stock tokenization as the next phase of market infrastructure, where traditional exchanges and crypto platforms converge to make securities more programmable, globally accessible and efficient instead of treating blockchain as a separate “crypto” silo.​

Source: “Here is why Nasdaq and owner of NYSE are putting the $126 trillion equity market on blockchain”, CoinDesk

Cryptio raises $45 million Series B for crypto accounting platform

Cryptio has reportedly raised about $45 million in a Series B led by BlackFin Capital Partners to scale its crypto accounting, reporting and compliance tools for enterprises and financial institutions.

Why it matters: Back‑office infrastructure for digital assets is attracting late‑stage capital as more firms need audit‑ready tooling to treat crypto as a regular part of their balance sheets.

Source: “Cryptio raises Series B led by BlackFin Capital Partners”, Fortune

Counting down to Crypto Adoption Week 2026 - 6 days to go

Join Live events for Denmark, Sweden, Finland, Norway and Nordics

In the week of 23–26 March, Crypto Adoption Week 2026 kicks off with five live events, covering Denmark, Sweden, Finland, Norway and a Nordic comparison session. Over 200 people have registered to attend as of now.

The Nordic Crypto Adoption Week is brought to you by K33, Nordic Blockchain Association, and Kaupr, in partnership with Firi, Blockpit, d-fine, and Kvarn X.

We reveal fresh data and findings from brand new surveys in all Nordic countries and discuss what this means for investors, platforms and policymakers.

To watch the live streams covering adoption numbers and findings, register and join the events you want to attend. Click Attend on the actual LinkedIn event to get a reminder when we go live, watch the stream directly on the event page, and access the full recordings afterwards.

Nordic Crypto Adoption - Denmark 2026 Live - Mon 23. March 11:00 - 13:00 CET

Nordic Crypto Adoption - Sweden 2026 Live - Tue 24. March 11:00 - 13:00 CET

Nordic Crypto Adoption - Finland 2026 Live - Wed 25. March 10:00 - 12:00 CET

Nordic Crypto Adoption - Norway 2026 Live - Thu 26. March 11:00 - 13:00 CET

Nordic Crypto Adoption - Nordics  2026 Live - Thu 26. March 13:00 - 14:00 CET

You can read more about the Nordic Crypto Adoption Week, access recordings, reports, and article summaries, on this event landing page

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Best regards
Morten Myrstad
Founder & Editor