BTCBitcoin Price

MicroStrategy's CEO Phong Le stated that since adopting its Bitcoin-focused strategy, the company's stock (MSTR) has outperformed Bitcoin's returns over every rolling four-year holding period. This analysis, comparing investment start dates from August 2020 to August 2022, offers a broader view than a single entry point. The company suggests its ability to raise capital effectively through equity and convertible note offerings—used to acquire more Bitcoin—creates value beyond its underlying assets, leading investors to value MSTR above its Bitcoin holdings' market value. Institutional investors, including major firms like Capital Group and BlackRock, increased their aggregate positions in MSTR by 27% in Q1. The company's Q2 report showed it held 843,775 Bitcoin as of July 27, with a year-to-date Bitcoin return of 4.5%, and raised $17.06 billion in capital programs in 2026. However, its financing model carries balance sheet and share dilution risks. The company recently completed its third Bitcoin sale of the year to meet obligations on preferred securities, reducing its holdings slightly, a move criticized by some, like economist Peter Schiff, as extracting value from shareholders. MicroStrategy maintains a significant Bitcoin reserve and has approved separate buyback programs.

**Summary: Cryptocurrency & Stock Market Update (August 4th)** Global stock markets remain under pressure, with Korean markets facing liquidity outflows and US tech stocks showing mixed results during earnings season. Major US cloud providers (Microsoft, Amazon, Google) saw gains, reinforcing their pivotal role amid computing, energy, and storage demands. In crypto-related stocks, Coinbase and Strategy traded lower post-earnings, while Robinhood demonstrated strong long-term potential despite short-term declines. Key BTC Treasury Corporate Activity: * Global publicly listed companies (excluding miners) were net sellers of Bitcoin, with a weekly net outflow reaching $101 million. * **Strategy** sold 1,638 BTC for approximately $105 million, reducing its holdings to 842,138 BTC. Concurrently, it repurchased $81.2 million of its preferred stock. * Michael Saylor clarified he has **never sold any of his personal Bitcoin holdings**, stressing that Strategy's corporate treasury management is separate from his personal long-term investment philosophy. * Several other companies, including Strive, OrangeBTC, and Capital B, reported new Bitcoin purchases last week. * Hyperscale Data sold 100 BTC to establish a Bitcoin-backed credit facility for AI infrastructure funding. ETH Treasury Corporate Activity: * **Bitmine** significantly increased its Ethereum position, adding 10,399 ETH last week for a total holding of ~5.79 million ETH. * The company continues active staking, recently staking 28.8k ETH via Coinbase Prime and an additional 150.1k ETH directly, with roughly 87% of its total ETH now staked. Other Developments: * Nasdaq-listed **Solmate** partnered with Kraken Institutional for SOL staking and validator infrastructure support. * The total BTC held by tracked public companies (excluding miners) stands at 1,138,643 BTC, valued at ~$72.42 billion (5.7% of circulating supply). *(Note: Content is for informational purposes only and not investment advice.)*

Non-custodial Bitcoin swap service Boltz has indefinitely suspended its swap operations due to a rise in automated attacks, likely utilizing AI. The service, which facilitates atomic swaps between Bitcoin's mainnet, Lightning Network, and Liquid Network, stated its small team has faced multiple attacks exploiting vulnerabilities in recent months. While each attack was contained, the attackers began finding new vectors faster than the team could patch them. Boltz emphasized that user funds were never at risk due to its non-custodial model, and its API remains available for processing refunds. However, the team warned that swaps should not be expected to resume soon, citing a "major paradigm shift" for Bitcoin services operating on open-source stacks that requires careful analysis. The announcement follows a report estimating crypto projects lost approximately $1.1 billion to hacks in the first half of 2026.

Bitcoin concluded July with a price below $63,000, falling 3.2% over the past week. According to the head of 10x Research, this indicates it's too early to declare the end of the bearish trend. Analysts point to several economic risks. A continued rise in the yield of US 10-year Treasury bonds could force the Federal Reserve to resume raising interest rates as early as September, which would negatively impact risk assets like cryptocurrencies. Another significant threat is increased selling pressure from miners. Mining companies that have pivoted to servicing artificial intelligence control approximately 100,000 BTC, and large investors holding substantial reserves of the cryptocurrency could also increase market supply. For Bitcoin to return to sustainable growth, a favorable macroeconomic environment is needed, along with the price firmly consolidating above the $60,000 level. Separately, the head of Grayscale Investments' research unit has previously outlined potential factors that could lead Bitcoin out of its prolonged bear market.

The Italian banking giant Intesa Sanpaolo has made a major strategic shift in its cryptocurrency investments. The bank has significantly reduced its holdings in Bitcoin and Solana Exchange-Traded Funds (ETFs) while dramatically increasing its exposure to Ethereum. Specifically, it reduced its stake in the BlackRock iShares Bitcoin Trust (IBIT) by 93.7%, cutting it down to 40,723 shares. It also nearly exited its position in a Solana ETF, reducing holdings from 2,817 shares to just 7. In contrast, Intesa Sanpaolo nearly tripled its investment in the iShares Staked Ethereum Trust, increasing its position from 116,200 shares to 349,600 shares. This move indicates a substantial reallocation of the bank's portfolio towards Ethereum-based crypto ETF products.