Strategy sold $2 billion of stock last week and bought no Bitcoin with it. Its holdings sat unchanged at 840,447 BTC while Bitcoin posted the largest weekly dollar gain in its history.
Scott Melker explains why that matters more than the rally: Michael Saylor was forced to sell near the lows, Bitcoin ran from the low 60s to nearly $80,000 without him, and $1.59 billion of that raise is now unrestricted cash he has not spent. Meanwhile Tom Lee’s BitMine bought another 32,447 ETH.
Plus $1.92 billion into Bitcoin ETFs, BitMart hiring restructuring counsel, Standard Chartered’s Hong Kong dollar stablecoin, and crypto card spending topping $1 billion.
Timestamps
00:00 Second-best week since 2021
00:46 The largest weekly dollar gain in Bitcoin history
01:37 Why this stopped being a short squeeze
02:24 $1.92 billion into Bitcoin ETFs, the biggest in ten months
03:04 The level that ends the bear market, and why a dip would help
04:36 Strategy raised $2 billion and didn’t buy Bitcoin
05:35 The $1.59 billion that isn’t spoken for
06:40 From sucking up Bitcoin to sucking up dollars, and Tom Lee’s opposite bet
08:00 The narrative that just broke, and what it feels like to sell the low
09:24 BitMart hires restructuring counsel
11:04 Standard Chartered’s Hong Kong dollar stablecoin
11:59 Crypto card spending tops $1 billion
12:54 Adoption hiding behind a Visa logo
13:44 How Not To Invest: Term Finance and Sandbox
#Bitcoin #MichaelSaylor #Strategy #MSTR #TomLee #Ethereum #Stablecoins #BitMart #DailyWolf #ScottMelker #YahooFinance
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