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Grayscale’s research team says bitcoin is benefiting from the so-called debasement trade, which Bitcoin Magazine linked to government debt. The asset manager said the environment could support bitcoin.
Metaplanet CEO Simon Gerovich said at Bitcoin Asia that changing regulations and Asian demand for places to allocate cash could strengthen Bitcoin’s opportunity in the Far East, according to Bitcoin Magazine.
An AI firm plans to rebuild an $827 million treasury after selling all its Bitcoin to repay debt. CryptoSlate said a proposed preferred raise covers 1.51% of the target before AI allocations and an 18-month dividend reserve.
Bitcoin dropped below $77,000 after Fed Chair Kevin Warsh renewed higher-rate concerns at Jackson Hole. The move helped drive a $488 million crypto liquidation cascade, with Bitcoin down about 4% over 24 hours.
Capital B raised €21 million from Adam Back and TOBAM to fund further bitcoin purchases. The French treasury company currently holds 3,145 BTC, worth more than $245 million at current prices.
IBIT regained key weekly options expiries in Q3 after a Tier 2 rule overhaul lowered eligibility thresholds to $25 billion in AUM and 5 million monthly options sides, according to CryptoSlate.
Charles Schwab plans to expand Schwab Crypto beyond Bitcoin and Ethereum by adding Solana, Avalanche and Chainlink. Decrypt reports that the brokerage has not yet provided a launch date for the three tokens.
IREN shares fell as rising costs from its accelerated data-center conversion weighed on the Bitcoin miner. AI cloud revenue surpassed Bitcoin mining revenue for the first time, shifting the company’s revenue mix toward artificial intelligence.
Bitcoin dropped to $78,630 after Fed Chair Kevin Warsh said he had “more work to do” to fight inflation, then rebounded. The cryptocurrency was recently trading at $79,474, according to Bitcoin Magazine.
Bitcoin fell to $78,400 after failing to break decisively above $80,000. Traders assessed Fed Chair Kevin Warsh’s Jackson Hole speech, which remained cautious about US inflation despite softer recent readings.
Fed Chair Warsh’s first Jackson Hole keynote gave Bitcoin traders no indication of the Fed’s September rate decision. With inflation still running hot, markets remain without clear guidance on near-term monetary policy.
Cointelegraph reports that Bitcoin’s rebound to $80,000 is lifting crypto-related stocks. Circle, Strategy and Solana highlight the roles of capital markets, stablecoins and onchain growth in the sector’s recovery.
CoinDesk says Bitcoin is outperforming stocks while correlating more closely with gold. The Aug. 28 market note highlights BTC’s changing cross-asset behavior, with spot gold as the key comparison.
French Bitcoin treasury firm Capital B raised $24.5 million in a private placement backed by Adam Back and TOBAM. Warrant exercises could provide up to another $158 million amid cryptocurrency market uncertainty.
UK police seized 20.21 BTC worth about $1.4 million that was linked to darknet marketplaces active from 2016 to 2019. The Bitcoin’s holder died before the cryptocurrency was forfeited, Decrypt reported.
Bitcoin profitability data has generated a reversal signal previously seen at the start of its 2023 recovery. The CryptoQuant CEO says the pattern suggests Bitcoin’s bear market may be over.
