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Crypto

Strive CEO says bitcoin bear market is over after breakouts against gold and dollar

A forecast has emerged that bitcoin’s bear market is over after the cryptocurrency broke out higher against both gold and the dollar. Matt Cole (매트 콜), CEO of bitcoin-holding company Strive, said his conviction in a trend shift is growing based on recent price moves. He focused on bitcoin’s relative movement versus gold, arguing it has led dollar-based turning points. Cole also cited potential dollar-index weakness and AI as factors that could support demand for scarce assets such as bitcoin.

Crypto

Strive buys 17.76 bitcoin in sharp selloff, raising questions over dividend burden

Asset manager Strive bought an additional 17.76 bitcoin last week, lifting its total holdings to 19,882, according to an 8-K filing. The purchase was made from June 29 to July 2 at an average price of about $59,850. Strive said its second-quarter bitcoin yield was 24.0 percent, while noting the metric is not traditional and does not reflect debt or preferred claims. Cash holdings rose, but dividend obligations tied to its SATA preferred shares increased.

Crypto

Trump family-backed American Bitcoin buys 500 more bitcoins in first purchase after reverse stock split

American Bitcoin (ABTC), a bitcoin mining company backed by Eric Trump, bought an additional 500 bitcoins, lifting its holdings to about 8,000 BTC. BitcoinTreasuries data put the value of its stash at about $495.7 million, ranking it 16th among listed companies by bitcoin holdings. ABTC said its bitcoin reserve and satoshis per share have both grown about threefold since its Nasdaq debut. Other firms also adjusted holdings as Strive added bitcoin, while Strategy sold bitcoins to fund dividends and boost cash.