Strive adds 6,182 BTC following SATS IPO
Vivek Ramaswamy’s Strive (ASST) remains one of the few BTC treasury companies adding sizable amounts of BTC to their balance sheets. The company has added 6,182 BTC at an average price of $82,732 per BTC and bringing the company’s total holdings to 43,000 BTC. The buys came after it’s $600 million IPO its 15% Perpetual Series A Preferred Stock, SATS. Read more →
Galaxy calls the Bitcoin bottom
Galaxy Research thinks Bitcoin’s bear market ended in June—and says now is an attractive time to buy and hold. Research chief Alex Thorn argues that selling pressure is fading, while Bitcoin’s recovery above its average price over the past 50 weeks suggests the worst is behind it. He also sees rising U.S. debt strengthening the case for owning an asset with a fixed supply, even as Bitcoin remains roughly 36% below last year’s peak. Thorn says he would reconsider his thesis if Bitcoin closes a week below its 50-week average ($76,540), and fails to recover that level within a month. Read more →
Netanyahu eyes crypto as a sanctions backup
Israeli Prime Minister Benjamin Netanyahu says he has asked for a blockchain plan to help the country bypass potential economic sanctions, including restrictions on its banks. Asked Friday whether blockchain could offer an alternative, he replied: “One of them, certainly. I have already asked for a plan to be prepared for that.” He didn’t name Bitcoin or explain how the plan would work, but the remarks put crypto firmly on the table as a contingency. The Bank of Israel has since pushed back, saying cryptocurrencies cannot provide a route around sanctions and urging the government to protect relationships with its trading partners. Read more →
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