As BTC tops $80,000 for the first time since May, price analysis warns that the market still needs to sustain higher levels to challenge the bear-market thesis. Bitcoin (BTC) passed $80,000 after Monday’s Wall Street open as bulls built on last week’s snap BTC price rally. Key points: Data from TradingView showed BTC/USD passing the $80,000 for the first time since May 15, up another 3% on the day before pulling back following the European close. Read more
Strive’s Nasdaq-traded shares surged more than 11% as the Bitcoin treasury company said it paid an average of $73,409 per BTC, pushing its holdings to 21,356 Bitcoin. Strive purchased 1,110 Bitcoin for about $81.5 million last week, bringing its total holdings to 21,356 BTC. According to a Monday filing with the US Securities and Exchange Commission, the company paid an average of $73,409 per Bitcoin (BTC), including fees and expenses, for purchases made between Aug. 17 and Aug. 21. Strive’s cash and cash equivalents rose by $17.1 million to $171.9 million over the period, while its Class A shares outstanding increased by 3.65 million to 79.89 million. Bitcoin was trading near $79,000 on Monday, about 8% above the average price Strive paid for its latest purchase. The purchase lifted Strive to the seventh-largest publicly traded corporate BTC holder, behind Bullish and ahead of SpaceX, according to BitcoinTreasuries.NET data. Its Nasdaq-traded ASST shares were up more than 11% in Monday morning trading, poise...
Following a similar lawsuit filed by the Digital Chamber in July, two digital asset advocacy groups challenged Illinois’ 0.2% crypto tax on constitutional and due process grounds. The Crypto Council for Innovation (CCI) and Blockchain Association (BA) filed a lawsuit against Illinois officials regarding the state’s 0.2% tax on cryptocurrency, expected to be enforced starting in January 2027. In a lawsuit filed Friday in the Circuit Court of the Seventh Judicial Circuit for Sangamon County, lawyers for the two crypto advocacy groups challenged Illinois’ digital asset tax on the grounds it violated the US Constitution, the state’s constitution, federal and state due process laws and the federal Internet Tax Freedom Act. Illinois Governor JB Pritzker signed the measure into law as a “privilege tax” in June as part of the state’s fiscal year 2027 budget, requiring crypto users to be taxed as applied to transaction volume rather than income. On the due process claim, CCI and BA argued that the tax was “unconstitu...
Ether’s breakout above $2,500 has put the spotlight back on corporate ETH treasuries, with Bitmine now nearing its long-stated accumulation target. Tom Lee’s Bitmine Immersion Technologies continued its accumulation of Ether last week, adding to its holdings as the cryptocurrency staged a sharp breakout following a prolonged downturn. The company disclosed Monday that it purchased 32,447 Ether (ETH) last week, bringing its total holdings to 5,847,611 ETH, or roughly 4.8% of Ethereum’s circulating supply. Bitmine has acquired ETH every week since launching its Ethereum treasury strategy on June 30, 2025, extending its buying streak to roughly 14 months. The company’s NYSE-traded shares were up about 8.7% to open the week, poised to extend their almost 28% gains over the past six months. Bitmine is now 97% of the way toward its stated goal of owning 5% of the ETH supply. It has also staked 5.07 million ETH, representing about 87% of its holdings, and reported combined crypto, cash, securities and other investme...