Strategy said it may sell up to US$1.25 billion of Bitcoin to replenish cash reserves, reversing its years-long strategy of buying and never selling. The company also launched two US$1 billion buyback programs for its common and preferred shares, while its stock has fallen nearly 80% over the past year. The shift follows its market […]
Michael Saylor’s latest social media post has fuelled expectations Strategy will announce another Bitcoin purchase. Strategy’s Bitcoin holdings are valued well below their purchase cost, leaving the company with an estimated paper loss of US$13-14 billion. Falling share prices and pressure on Strategy’s financing model have prompted criticism despite its continued accumulation strategy. Michael Saylor […]
US spot-Bitcoin ETFs bled more than US$1.3 billion last week, the bulk of it from BlackRock’s IBIT, as outflows ran for seven straight trading days. IBIT shed about US$444.5 million on June 26 alone, its largest single-day withdrawal since launching in January 2024. Glassnode analysts said investors are now cutting exposure rather than buying the […]
Bitcoin dropped below US$60,000 for the third time this year, sliding to about US$59,000, its lowest level since October 2024. A second day of selling in chip and AI stocks dragged risk assets lower, while Bitcoin exchange-traded funds headed for a seventh straight week of net outflows. Steady institutional buying, including fresh purchases by Strategy […]
Bitcoin miner revenue has fallen to around US$30 million (AU$42.6 million) per day, while transaction fees now contribute only a small share of earnings. Bitcoin has traded below JPMorgan’s estimated US$78,000 (AU$110,760) production cost for five consecutive months, leaving roughly 20% of miners unprofitable. Mining difficulty has declined twice this year and public mining companies […]
Bitcoin tested a two-week low near US$62,000 (AU$89,280) on Tuesday, down about 4%, as investors retreated from risk assets across global markets. Ether, XRP and Solana each fell at least 5%, while the Nasdaq slid and semiconductor stocks led equity losses, with Micron and SanDisk down 12% and 13%. The retreat followed a hawkish signal […]
STRC fell to a record low and remains well below its US$100 (AU$142) liquidation preference, disrupting a key funding source for Strategy’s Bitcoin purchases. The weakness has revived criticism from figures including Peter Schiff, who argue the structure depends on ongoing capital raising to function. While Strategy’s Bitcoin buying has slowed markedly in recent months, […]
Bitcoin Microtransactions Surge to 80% of Network Activity as Ordinals and Runes Fuel Onchain Growth
Bitcoin transactions under 0.01 BTC now account for roughly 80% of daily network activity, up from 44% in 2023, according to CryptoQuant data. Ordinals inscriptions, Runes tokens, BRC-20 assets and data-stamping services have driven daily transaction counts above 800,000, near record highs. The surge comes even as Bitcoin prices stay under pressure near US$64,000, raising […]
Australia’s crypto Travel Rule becomes fully effective on 1 July, requiring exchanges to verify and retain sender and recipient information for all digital asset transfers. Some Bitcoin holders have reportedly withdrawn funds ahead of the deadline amid reports of additional verification requirements and transfer delays. Binance Australia has outlined new information requirements for deposits and […]
Jamie Lawrence Powrie has been granted strict bail conditions, including house arrest, while facing multiple criminal charges linked to alleged proceeds of crime. Prosecutors allege cryptocurrency connected to unlawful activity was used to purchase the Surfside home where he was arrested. The defence cited court delays and the technical nature of the case, with Powrie […]