The buys lift Strategy holdings to 717,131 BTC and Bitmine to 4.37 million ETH, expanding corporate crypto treasuries despite continued market weakness. The two largest publicly traded crypto treasury companies expanded their digital asset holdings this week, with Strategy adding 2,486 Bitcoin and Bitmine Immersion Technologies buying 45,759 Ether, deploying about $260 million combined. Strategy said it spent $168.4 million on Bitcoin (BTC) purchases Feb. 9-16, bringing total holdings to 717,131 BTC. The acquisitions were funded through share sales under its at-the-market program, including 785,354 shares of STRC preferred stock for $78.4 million in net proceeds and 660,000 shares of Class A common stock for $90.5 million. As of Monday, Strategy reported an aggregate purchase price of $54.52 billion for its Bitcoin holdings, implying an average acquisition cost of $76,027 per BTC. The latest purchases were made at an average price of $67,710 apiece. Read more
Bitcoin bulls’ attempt to break above $70,000 stalled after a key US macroeconomic “fear” metric broke a critical threshold. Is a revisit to BTC's yearly lows back in play? Bitcoin (BTC) price continues to compress under $70,000 on Tuesday, and data suggests that the risk of new year-to-date lows remains if bulls fail to turn the level into support. The whipsaw nature of Bitcoin’s price surged as US market volatility climbed back above a critical level, and Treasury yields saw their sharpest weekly drop in months. Analysts suggest this macro backdrop may hint at an extended slowdown phase for BTC price, while onchain data shows traders still waiting for a stronger bullish catalyst. Read more
Nakamoto will acquire BTC Inc and UTXO in an all-stock deal, consolidating Bitcoin media, events and asset management under one Nasdaq-listed company. Nakamoto, the Bitcoin treasury company formerly known as KindlyMD, has signed definitive agreements to acquire BTC Inc and UTXO Management GP, advancing its plan to build a Bitcoin-native operating company. The transaction will be financed entirely with Nakamoto’s common stock under a previously disclosed call option contained in a Marketing Services Agreement (MSA) with BTC Inc. The MSA granted Nakamoto the right to acquire BTC Inc, which in turn held a call option to acquire UTXO, the company disclosed Tuesday. Under the terms, BTC Inc and UTXO holders will receive 363,589,816 shares of Nakamoto common stock on a fully diluted basis. Read more
The exchange's chief legal officer, chief operating officer and chief financial officer are out and Cameron Winkelvoss will take on more responsibilities. Gemini Space Station, the parent company of cryptocurrency exchange Gemini, said that three of its C-suite executives would be leaving effective immediately, with co-founder Cameron Winklevoss assuming additional responsibilities. In a Tuesday filing with the US Securities and Exchange Commission, Gemini said it would be “parting ways” with chief operating officer Marshall Beard, chief financial officer Dan Chen and chief legal officer Tyler Meade. The company said it did not plan to replace Beard, who also resigned from Gemini’s board. Winklevoss is expected to take on revenue-generating responsibilities. Danijela Stojanovic, previously Gemini’s chief accounting officer, has been appointed as interim CFO. Read more
South Korea reopens crypto to corporations with strict caps and asset limits. This is part of a broader strategy that includes stablecoin legislation and potential spot crypto ETFs. South Korea is ending a nine-year ban on corporate crypto trading, allowing listed entities and professional investment companies to reenter the market under a regulated framework. Corporate participation will be tightly controlled, with investments capped at 5% of annual equity capital and limited to the top 20 cryptocurrencies traded on regulated domestic exchanges. Institutional entry may gradually improve liquidity and market structure, but strict limits mean large capital inflows from corporate treasuries are unlikely in the short term. Read more
BTC price fell below the key $70,000 level as tensions between the US and Iran ramped up and a broad risk-asset sell-off liquidated late BTC long positions. Bitcoin (BTC) dipped below $67,000 at Tuesday’s Wall Street open as risk assets responded to new geopolitical pressures. Key points: Bitcoin joins stocks in a geopolitics-driven sell-off to the start the US TradFi trading week. Read more