Strategy's 11th Buy in 2025
Strategy bought 6556 more Bitcoin spending more than $555 million. With this purchase Strategy now holds 538,200 bitcoins worth around 47 billion. The average price for this buy was $84,752 per Bitcoin, with the funds coming from the selling of MSTR (common) and STRK (preferred) stock to investors last week. Michael Saylor continues to show no fear about Bitcoin's future and has stated several times that at $85K it's cheap. Earlier reports were that Saylor purchase would be closer to 2 Billion, seems like the market is fully expecting Saylor to continue to buy more even as the price moves up. Saylor stated that he would continue to buy even after the price moves over $100K and proved this in January.
Coinbase considering Banking License
Coinbase confirmed that its considering applying for a Federal Banking Charter as it continues to integrate with the the traditional financial system. Although it's not made a final decision a license could allow the firm to act like traditional lenders, take deposits, and offer crypto related services. This move comes as US regulators are more open to crypto assets and are taking a softer stance on crypto regulation. Assuming Coinbase moves forward with the license, this would make offering stable coins to the general consumer easier as collateralized stablecoins are currently a hot topic in the government.
Quick Hits
- Metaplanet commits to buying 5,000 more Bitcoin
- New Chairman of SEC Paul Atkins gave his 1st remarks after being sworn in and stated a top priority would provide for investors and "a firm regulatory foundation" for Bitcoin and Crypto.
- Bloomberg says "Bitcoin acts like a safe haven" related to its recent price surge.
