Strategy Grows Its Bitcoin Stack to 847,666 BTC With a $142.7M Buy
Good Morning Lions,
Strategy sold 1.47 million common shares for $246.2 million in net proceeds and put $142.7 million of that into 1,665 BTC. Average price was $85,681 per coin. Total holdings now sit at 847,666 BTC.
Run the numbers and roughly $103.5 million of the raise didn't go into this buy. The disclosure doesn't say where it goes next. On top of that, BTC is trading at $84,026 right now, so this batch is already a bit underwater.
The machine keeps running anyway. Shareholders get diluted, the stack gets bigger, and the company keeps showing up as a buyer while everyone else gets nervous about Iran, oil and Treasury yields. Monday's Asia session pushed BTC out of last week's range and $70 million in longs got liquidated on the way to weekly lows.
I think a steady equity-funded bid like this helps soften dips. BUT it can't stop a geopolitical flush on its own, frens. Leverage still matters more than any single buyer. As always, 50-50.
Strategy adds 1,665 BTC, stack hits 847,666. BTC dips on Iran jitters, $70M in longs wiped. SEC and CFTC go solo after Clarity Act blocked. Bitget reopens BTC withdrawals.
Strategy turns $246.2M of fresh shares into 1,665 more BTC
TL;DR: Strategy sold 1.47 million common shares for $246.2 million net and used $142.7 million to buy 1,665 BTC at an average $85,681. Holdings now total 847,666 BTC. With BTC at $84,026, this batch is slightly underwater, and the rest of the raise isn't spoken for in the disclosure.
Asia opens the week by knocking BTC out of its range
TL;DR: Bitcoin broke the lower edge of the range it built late last week during Monday's Asia session, with oil and Treasury yields both climbing. Higher yields make a non-yielding asset more expensive to hold. BTC now trades at $84,026, down 0.5% on the day.
$70M in longs flushed on the slide to weekly lows
TL;DR: Bitcoin hit weekly lows Monday after $70 million in long positions were liquidated, stalling the push back toward the yearly open. That is a modest flush, which tells me plenty of leverage is still sitting on the board if the Iran headlines get worse. Could be wrong.
Congress stalls, so the SEC and CFTC write their own crypto rules
TL;DR: After the Senate rejected the Digital Asset Market Clarity Act, the SEC and CFTC are advancing independent rules to clarify crypto regulation. Agency rules can move faster than Congress, but a future set of commissioners can rewrite them, which is why industry groups are still mobilizing for a real law.
BTC and Nasdaq futures take the same Iran hit
TL;DR: Bitcoin and Nasdaq futures both slid after Trump signaled more military strikes on Iran are possible. BTC keeps trading like a tech-adjacent risk asset during geopolitical scares, moving with futures instead of acting as a hedge. That correlation has to break before the safe-haven pitch convinces the suits.
Bitget reopens BTC withdrawals four days after a $387.5M breach
TL;DR: Bitget restarted Bitcoin withdrawals four days after a $387.5 million breach. CEO Gracy Chen said attackers exploited third-party vulnerabilities to steal internal credentials, while cold wallets and user balances stayed untouched. Exchange risk extends to every vendor an exchange plugs into.
Florida AG brings a public nuisance case against an AI chatbot maker
TL;DR: Florida Attorney General James Uthmeier filed a civil suit in state court against a major AI chatbot company and its CEO, alleging it concealed the product's risks and misled users including minors. He wants an emergency injunction. A state-level public nuisance theory aimed at software is a template other AGs could copy for crypto apps too.
Strategy paid $85,681 a coin and BTC sits at $84,026. If oil and yields keep climbing on Iran, the next share sale buys cheaper coins, and the open question is how much more dilution shareholders will put up with. 🦁 — Khal
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More crypto news, daily, at news.leodex.io. The Daily LEO · Written by the LEO Team, Edited by Khal.