Strategy Tops 815,000 BTC After $2.54 Billion Purchase

Michael Saylor’s Strategy aggressively acquired 34,164 Bitcoin for $2.54 billion to expand its dominant corporate treasury. This record breaking weekly purchase pushes their total holdings above 815,061 tokens worth approximately $61 billion using proceeds from massive stock and preferred share sales to execute the massive record breaking trade.

Executive Chairman Saylor urged investors to think even bigger as the company now controls 3.8% of the total supply. These diversified capital raises through Class A common stock and perpetual preferred programs allow the firm to maintain its relentless pace of digital asset accumulation for many future years.

The organization plans to raise $84 billion through equity and convertible notes to fund future purchases until late 2027. Investors recently pushed the stock up 27% while the firm’s net asset value recovered to par as this strategic focus targets the eventual 21 million fixed supply cap.

Shareholder meetings in June will decide whether to double the frequency of dividend payments for the popular STRC preferred shares. More frequent payouts could reduce price volatility and provide steadier capital for ongoing Bitcoin buys as the company remains the world’s largest public institutional holder of digital crypto.

BitMine Reaches 5 million ETH With New Buy

BitMine Immersion Technologies acquired 101,627 Ethereum recently to support its massive corporate treasury. This $235 million purchase represents the firm's largest accumulation since late last year. Chairman Tom Lee believes the crypto winter is ending despite ongoing market volatility and global macro uncertainty impacting current digital asset markets.

BitMine now holds 4,976,485 ETH worth approximately $11.5 billion in total digital assets. These holdings constitute over 4.1% of the entire circulating supply. BitMine executed the transaction to position itself for a market recovery while Ethereum leads as a wartime store of long term economic value.

LayerZero Links $292 Million Kelp Hack to Lazarus

LayerZero said preliminary findings point to North Korea’s Lazarus Group after Kelp DAO lost 116,500 rsETH worth about $292 million in the year’s largest DeFi exploit. The attacker allegedly poisoned two RPC nodes and jammed clean ones. That forged a message accepted by Kelp’s bridge setup.

LayerZero blamed Kelp DAO’s single 1-of-1 DVN configuration for creating a fatal single point of failure despite earlier warnings about redundancy. The breach spilled into Aave and triggered emergency freezes elsewhere. DeFi total value locked fell 7% to about $86 billion as users rushed for safety.

Polymarket Seeks $400 Million at $15 Billion

Polymarket is reportedly in talks to raise $400 million at a $15 billion valuation, with the round potentially swelling to $1 billion if more strategic investors join. The push follows heavy backing from Intercontinental Exchange. That support has helped push prediction markets closer to mainstream financial infrastructure.

The fundraising arrives as rivals and regulators circle the sector from opposite directions, with Kalshi recently reaching a $22 billion valuation after a separate raise. States and federal agencies still dispute whether these products are gambling. That legal uncertainty now shadows one of crypto’s hottest niches.

Data of the Day

Galaxy research head Alex Thorn said bitcoin’s current halving cycle is dramatically weaker than prior ones, with a peak gain of only 97% from the April 2024 halving level. Earlier cycles surged 761%, 2,950%, and 9,294%. He argued volatility has also been compressed to unusually subdued levels.

Critics counter that the comparison is distorted because bitcoin reached a record high before the halving, propelled by U.S. spot ETF approvals in January 2024. Fidelity has separately noted shallower drawdowns in recent years. That mix suggests bitcoin may be maturing beyond the classic four-year script.

More Breaking News

• ZachXBT challenged MemeCore’s $4.3 billion to $6 billion valuation, alleging insiders control more than 90% of supply as scrutiny spread beyond the RAVE collapse.
• Justin Sun presented proposals to President Sadyr Japarov backing Kyrgyzstan’s Web3 and AI ambitions, including KGST on TRON, digital banking, a local language LLM, and hydropower data centers.
• Reabold Resources is weighing a gas-powered bitcoin mining pilot in northern England, drawing criticism as the firm argues the site could later anchor a larger data-center buildout.
• Coinbase-incubated x402 launched AgentMarket, an app-store style hub for AI bots, as the protocol says 69,000 agents have already processed more than 165 million transactions.
• Coinbase and Bybit are exploring tokenized U.S. stocks, focusing on custody and global distribution rather than any ownership deal, as exchanges race to widen real-world asset access.
• Tether disclosed an 8.2% stake in Antalpha, betting on bitcoin mining finance as the stablecoin giant pushes profits into infrastructure, tokenization, banking, and other strategic sectors.
• Ripple said it aims to make XRP Ledger quantum-ready by 2028, arguing the computing threat is now credible and claiming XRPL is better positioned than Ethereum.
• Japan’s JSCC will test Japanese government bonds as digital collateral on Canton with Mizuho, Nomura, and Digital Asset, extending sovereign-debt blockchain experiments into another major market.

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