Bitcoin price action saw sharp moves within its local range as US Treasury Secretary Scott Bessent addressed US bond yields. Bitcoin (BTC) gyrated around $78,000 at Monday’s Wall Street open as US bond yields neared 20-year highs again. Key points: Read more
Strive’s latest Bitcoin purchase lifted its holdings to 23,156 BTC, making it the fifth-largest publicly traded corporate holder as crypto markets rebound. Strive, a publicly traded asset manager and Bitcoin treasury company, added 1,800 Bitcoin to its holdings last week, accelerating an accumulation strategy that has propelled it into the ranks of the world’s five biggest publicly traded corporate Bitcoin holders. The company purchased the Bitcoin (BTC) for approximately $143 million between Aug. 24 and Aug. 28, paying an average price of $79,431 per BTC, including fees and expenses. CEO Matt Cole confirmed the acquisition on Monday. The purchase brought Strive’s total holdings to 23,156 Bitcoin, up from 21,356 BTC a week earlier. As Cointelegraph reported, the company had purchased 1,110 BTC the previous week for roughly $81.5 million at an average price of $73,409 per coin. Read more
The million dollar question is what prompted a Bitcoin OG to send 20 BTC to a custodian, retrieve it back, and then deliberately burn it? In March, someone moved $1 million worth of Bitcoin through a large crypto custodian. Three weeks later, almost exactly the same amount came back. Incredibly, less than two months after that, the Bitcoin was deliberately destroyed. The wallet had been dormant for almost 12 years before it suddenly sprang back to life. Bitcoin educator Bennet noted it sent 20.00010537 BTC to “a custodian of some kind” before receiving it back again (minus $3 or so). The mystery BTC transaction is part of a wider enigma surrounding 107 BTC burned in May, worth roughly $8.5 million at the time. Read more
Strategy added to its BTC treasury for the first time in two months, while continuing to bolster its cash reserves and buy back its perpetual STRC preferred stock. Michael Saylor’s Strategy acquired 4,603 Bitcoin for $370 million, marking the first acquisition from the largest corporate Bitcoin holder in two months. Strategy acquired 4,603 Bitcoin (BTC) at an average purchase price of $80,318, pushing its holdings to 845,050 BTC, acquired for a total of $63.3 billion at an average price of $75,413, according to a Monday 8-k filing with the Securities and Exchange Commission. The Bitcoin purchase was funded by the net proceeds of a 602 million MSTR common stock sale. The company used $30 million of the net proceeds to increase its USD Cash reserve and $151.8 million to repurchase its preferred STRC stock. Read more
Bitcoin approached the August monthly close below key resistance with markets once again pricing in a Federal Reserve interest-rate hike in September. Bitcoin (BTC) heads into September still battling key resistance as markets flip hawkish on Federal Reserve policy. Key points: Read more
Bitcoin moves toward a post quantum future, Solana validators agree to curb rampant inflation and the bull case from Bernstein is for Bitcoin to peak at $500K this cycle. Despite considerable skepticism among Bitcoiners about how close the quantum threat to Bitcoin is, two stories this week highlighted the progress being made toward upgrading the blockchain and protecting outputs from attack. StarkWare researcher Avihu Levy tested an experimental quantum-resistant transaction on the Bitcoin mainnet that protects it during the brief period when public keys are exposed in the mempool. Onchain data shows that StarkWSare spent a 10,000-satoshi output protected by Levy’s Quantum Safe Bitcoin (QSB) scheme which combines hash-based one-time signatures with computational searches that bind an authorization to a specific transaction. It’s more of a last resort than a practical measure, as each transaction takes hours and costs $150 to $200. Read more
Michael Saylor’s “We’re Back” post hints Strategy may resume Bitcoin buying after a two-month pause to strengthen its balance sheet. Strategy’s Michael Saylor said “We’re Back” in his latest signal on X (formerly Twitter) of the company’s likely return to Bitcoin buying. For market watchers, the post could be a strong psychological signal as Saylor has a track record of dropping cryptic weekend teasers that precede official Monday morning treasury purchase announcements. Should that record, and community interpretation, hold true, his post points to the resumption of corporate Bitcoin accumulation following a notable summer hiatus. Read more