Leopold Aschenbrenner’s hedge fund Situational Awareness LP has scaled to $5.52 billion in equity exposure in less than a year by betting on power, data centers and Bitcoin miners. Leopold Aschenbrenner has built a US stock portfolio heavily concentrated in companies that supply the power and infrastructure behind the artificial intelligence boom. The former OpenAI researcher, who left the lab’s superalignment team to launch San Francisco-based hedge fund Situational Awareness LP, has expanded it from $383 million in assets in early 2025 to a reported $5.52 billion in equity positions in its latest 13F filing with the US Securities and Exchange Commission. The fund’s 13F filing for Q4 2025 shows a highly concentrated portfolio built around betting that the real winners of the AI boom won’t be chatbots, but the power plants and data centers that feed them. Situational Awareness reported $5.52 billion in US equity positions across 29 holdings, with a large share of that value clustered in a handful of AI infras...
BTC price upside returned during Wednesday's Asia trading session as Bitcoin attacked a long-term trend line and psychological levels. Bitcoin (BTC) passed $71,000 on Wednesday as geopolitical tensions fueled ongoing volatility. Key points: Bitcoin price action teases a fresh breakout after failing to hold $70,000 since January. Read more
Ray Dalio says that gold is a better safe-haven asset in times of conflict compared to Bitcoin, and raised concerns about the cryptocurrency’s lack of privacy. Billionaire investor Ray Dalio has warned against Bitcoin as a long-term store of value and safe-haven asset, arguing that it has little central bank support and has lingering concerns over its privacy limitations and quantum resistance. Dalio dismissed the idea that Bitcoin (BTC) can function as a digital gold, telling the All-In Podcast on Tuesday that “there is only one gold.” "Gold is not a precious metal that's speculated on,” Dalio said, adding it is the “most established money” that is the second-largest reserve currency held by central banks. Read more
MARA has "fact checked" claims it adopted a Bitcoin sell-off strategy, clarifying its filing allows flexible sales but does not signal a majority liquidation. MARA Holdings, one of the world’s largest Bitcoin mining companies, has rejected claims that it plans to unload the majority of its Bitcoin holdings following speculation about a shift in its treasury policy. The clarification came in a post on X from MARA vice president for investor relations Robert Samuels, who said the company has not altered its core Bitcoin (BTC) treasury approach. His remarks were a direct response to SwanDesk adviser Jacob King, who claimed Tuesday that MARA had shifted toward a sell-down strategy, citing filings with the US Securities and Exchange Commission. King’s post had received more than 325,000 views at the time of writing. Read more
US Dollar Index strength, fear that BTC miners may liquidate their reserves and Bitcoin’s performance compared to stocks raise concerns among investors. Key takeaways: Bitcoin shows resilience by decoupling from traditional equities and gold despite increasing US dollar strength. Institutional demand for Bitcoin remains robust, as evidenced by the $1.5 billion in recent ETF net inflows in seven days. Read more
In a Monday SEC filing, the US Bitcoin miner said it would consider selling some of the coins on its balance sheet, depending on market conditions. US-based cryptocurrency miner MARA Holdings made waves after a regulatory filing signaled that the company could change its HODL strategy. In a Monday filing with the US Securities and Exchange Commission (SEC), MARA said it was open to selling some of its Bitcoin (BTC) holdings “from time to time” depending on market conditions and its investment priorities. According to the miner, it adjusted its strategy to allow for BTC sales in 2026, while Bitcoin sales generated from mining at the company have been permitted since 2025. MARA’s strategy shift comes as many crypto mining companies are pivoting some of their infrastructure into artificial intelligence (AI) and high-performance computing (HPC) amid increasing BTC difficulty and associated costs. On Monday, Riot reported a net loss of $663 million for 2025 in part due to the value of its Bitcoin holdings, while ...
Bitcoin bulls gave up their latest mission to reclaim $70,000 as Iran escalation sparked oil supply fears that gripped stocks and gold. Bitcoin (BTC) erased its latest trip to $70,000 on Tuesday as Middle East tensions sparked a global asset sell-off. Key points: Bitcoin and major asset classes all fall after the closure of the Strait of Hormuz. Read more
Strive’s Joe Burnett argues AI-driven deflation may force looser policy, pushing Bitcoin toward $11 million a coin by 2036 and a $230 trillion market cap. Technological deflation driven by artificial intelligence could help push Bitcoin above $10 million within a decade by pressuring central banks to keep expanding the money supply, according to a report from Strive strategist Joe Burnett. Burnett, Strive’s vice president of Bitcoin strategy, said in a report published Monday that faster productivity gains from AI will push down prices across goods and services, squeezing margins and prompting policymakers to respond with sustained monetary expansion. His “base case” calls for Bitcoin (BTC) to reach $11 million in the first quarter of 2036, he wrote. The forecast rests on a set of aggressive assumptions, including that Bitcoin would grow to about 12% of the value of global financial assets and that global wealth would compound at 7% annually through 2036. With Bitcoin currently accounting for about 0.2% of al...
BTC price has slid about 35% on average over a month after similar trend line crossovers, keeping downside risk in focus for traders. Bitcoin (BTC) is flashing a fresh “death cross” on its three-day chart, marking the bearish signal’s first appearance since June 2022. Key takeaways: BTC’s death cross raises the odds of a 35% average downside in March. Read more
Riot Platforms posted record 2025 revenue of $647 million, driven by $576 million in Bitcoin mining revenue, while holding 18,005 BTC worth $1.6 billion. Riot Platforms posted record annual revenue of $647.4 million for 2025, up 72% from $376.7 million a year earlier. In a Monday announcement, the company said the increase was driven by a $255.3 million jump in Bitcoin (BTC) mining revenue, which reached $576.3 million in 2025 amid a rise in operational hashrate and higher average Bitcoin prices. During the year, Riot produced 5,686 Bitcoin, up from 4,828 BTC in 2024. The average cost to mine one Bitcoin, excluding depreciation, climbed to $49,645 from $32,216 in 2024. Riot attributed the higher cost largely to a 47% increase in the global network hashrate, which increased mining difficulty. That impact was partly offset by a 68% increase in power credits received during the year, the company said. Engineering revenue also rose, reaching $64.7 million compared with $38.5 million in 2024. Read more
Month over month Bitcoin open interest continues to decline, while BTC options markets highlight balanced demand. Does the data point to reduced institutional investor activity? Key takeaways: Bitcoin futures demand has hit its lowest level since 2024, signaling that many institutional traders are staying cautious. Despite lower confidence from bulls, high CME open interest suggests that major institutions have not left the market. Read more