Bitcoin Magazine

Michael Saylor’s Bitcoin Treasury Strategy Now Accounts for 3.2% of BTC Supply

Over the last two months, the broader bitcoin market has bled to semi-surprising lows and it seems like fear has crept into the forefront of market sentiment. But Strategy’s Michael Saylor, in true Saylor fashion, just put his head down and bought more bitcoin. 

Over the past two weeks, Strategy has spent nearly $2 billion just on Bitcoin.

Strategy has steadily expanded their Bitcoin treasury over the years, now holding 671,268 BTC — equivalent to 3.2% of all Bitcoin ever expected to exist, the company says.

The firm’s average purchase price for its holdings sits at roughly $75,000 per BTC, with a total acquisition cost of $50 billion and a current Bitcoin net asset value of $60 billion. 

Strategy has added Bitcoin in every quarter since Q3 2020, totaling 90 separate acquisitions.

Per Bitcointreasuries.net, Strategy’s Bitcoin holdings tower over every other publicly traded treasury, owning 12 times the next largest holder, MARA Holdings. 

While most companies in the top 10 hold between 13,000 and 53,000 BTC, Strategy’s accumulation dwarfs them, underscoring its unprecedented scale of BTC holdings. 

Earlier this month, Strategy created a $1.44 billion cash reserve to safeguard future dividends and interest payments, in an effort to reassure investors it would not need to sell any of its roughly $56 billion in Bitcoin amid broader Bitcoin market weakness.

Funded by recent Class A stock sales, the reserve initially covered 21 months of obligations, with plans to extend to 24 months. CEO Phong Le said the move sharply reduced the likelihood of BTC liquidation, addressing fears from prior comments. 

JUST IN: Michael Saylor's Strategy now owns 3.2% of all Bitcoin ever to be in existence pic.twitter.com/R907KnHsee

— Bitcoin Magazine (@BitcoinMagazine) December 16, 2025

Strategy wants more bitcoin: ‘We are going to buy all of it’

At the Bitcoin MENA conference, Saylor discussed his bitcoin beliefs more, saying that Bitcoin was the foundation of a new digital capital and credit era. Addressing sovereign wealth funds, banks, and investors, Saylor framed Bitcoin as “digital capital,” contrasting it with traditional assets like gold, real estate, and equities, and emphasizing its potential as a core store of value in the digital economy. 

Saylor emphasized the growing institutional adoption of Bitcoin, with major U.S. banks—including Bank of America, Wells Fargo, JP Morgan, and Citi—now offering custody solutions and credit against Bitcoin. 

He also cited bipartisan government support from agencies like the Treasury, SEC, and CFTC.

Central to Strategy’s vision is converting volatile Bitcoin into predictable, yield-generating credit. Through over-collateralized instruments like STRK (8% dividend) and STRF (10% perpetual bond), Strategy delivers steady cash flows while enhancing long-term Bitcoin exposure.

Saylor claimed these mechanisms allow the company to double Bitcoin per share every seven years, creating liquidity and aligning corporate growth with investor returns. He likened Bitcoin-backed credit to gold-backed financial systems, envisioning a global shift toward digital gold-supported credit integrated into traditional banking.

Earlier this week, news came out that Strategy will retain its spot in the Nasdaq 100 index despite an annual reshuffle that removed six companies and added three.

This post Michael Saylor’s Bitcoin Treasury Strategy Now Accounts for 3.2% of BTC Supply first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Tether Leads $8 Million Investment in Lightning-Powered Payments Startup Speed

Tether, the issuer of the world’s largest stablecoin USDT, announced a strategic investment in Speed1, Inc. (“Speed”), a payments infrastructure company leveraging the Bitcoin Lightning Network and stablecoins to build instant, global settlement rails.

Tether led the company’s $8 million funding round alongside ego death capital, signaling a strong push to expand Bitcoin-aligned financial infrastructure and increase the real-world utility of USDT.

Speed provides payment solutions for a diverse range of users, including consumers, creators, platforms, and enterprise merchants. The company processes over $1.5 billion in annual payment volume and serves roughly 1.2 million users through its Speed Wallet and Speed Merchant products.

These tools enable near-instant settlement in both bitcoin and USDT while offering global routing capabilities optimized for enterprise-level integrations.

The company’s architecture combines Lightning-based transaction execution with stablecoin settlement, addressing key challenges in cross-border payments such as speed, cost, and price volatility. 

This combination allows users and merchants to transact efficiently while maintaining price stability when required, making it suitable for international transfers, creator payouts, merchant payments, and platform-level settlements.

Bitcoin networks are ready for mainstream commerce 

“Speed is showing what Lightning can achieve when paired with a stable, liquid digital dollar like USDT,” said Paolo Ardoino, CEO of Tether.

 “We support teams building practical infrastructure that reduces friction in payments and expands access to reliable settlement rails. Speed’s execution and adoption signal that Bitcoin-rooted networks are ready for mainstream commerce,” Ardoino said. 

Niraj Patel, CEO of Speed, added, “Crypto has lived in the world of speculation for too long. Speed is making it usable – instantly, globally, and at scale. Lightning gives us speed; stablecoins give us universal access; our infrastructure brings it all together for consumers, creators, and merchants.”

Tether likes to hold bitcoin 

This move aligns with Tether’s ongoing diversification strategy. Earlier this year, the company acquired nearly 8,889 BTC, bringing its primary treasury holdings to over 86,000 BTC, and expanded into physical assets such as gold and agribusiness through a 70 percent stake in Adecoagro. 

Per BitcoinTreasuries.net, Tether holds 87,475 bitcoin. 

Per the companies, the $8 million funding will support Speed’s infrastructure expansion and additional integrations with merchants and platforms, further solidifying its role in building the next generation of global financial rails anchored in Bitcoin and USDT.

This post Tether Leads $8 Million Investment in Lightning-Powered Payments Startup Speed first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

American Bitcoin ($ABTC) Enters Top 20 Public Bitcoin Treasury Companies, Holds 5,098 BTC

American Bitcoin Corp. (Nasdaq: ABTC) has entered the top 20 publicly traded bitcoin treasury companies by holdings after growing its strategic reserve to approximately 5,098 BTC as of December 14, according to company disclosures.

The Miami-based firm said its bitcoin was accumulated through a combination of in-house mining and strategic market purchases. The total includes bitcoin held in custody as well as BTC pledged as collateral for miner purchases under a supply agreement with hardware manufacturer Bitmain, per the company release. 

Based on rankings from BitcoinTreasuries.net, the milestone places American Bitcoin among the largest public bitcoin holders globally, just over three months after its Nasdaq listing.

As part of its treasury reporting, the company also highlighted growth in its proprietary Satoshis Per Share (SPS) metric, which measures the amount of bitcoin attributable to each outstanding common share. As of December 8, SPS stood at 507 satoshis per share, representing a more than 17% increase in just over one month.

American Bitcoin is also introducing a new disclosure metric, Bitcoin Yield, which tracks the percentage change in SPS over a defined period. The company said the combined metrics are intended to give investors clearer insight into both per-share bitcoin exposure and how that exposure evolves over time.

“I am incredibly proud of our tremendous growth,” said Eric Trump, co-founder and chief strategy officer of American Bitcoin. “In just over three months since our Nasdaq listing, we have surged past dozens of companies — propelling us into the top 20 publicly traded bitcoin treasury companies.”

Earlier this month, American Bitcoin reported adding roughly 416 BTC in a single week, lifting holdings from approximately 4,783 BTC as of December 8. 

The company said its accumulation strategy prioritizes long-term bitcoin exposure over short-term price movements, supported by an operating model designed to maximize BTC retention.

JUST IN: Trump family backed American #Bitcoin increases its BTC holdings to 5,098 BTC.

Nothing stops this train pic.twitter.com/I9ub8DuWBP

— Bitcoin Magazine (@BitcoinMagazine) December 16, 2025

American Bitcoin ($ABTC) stock struggles

In early December, the American Bitcoin stock (ABTC) plunged more than 50% shortly after markets opened, triggering multiple trading halts and erasing months of speculative gains. 

The stock fell to an intraday low of $1.75 before recovering slightly, though it remained down over 35% at the time of writing. 

The sell-off followed a broader downturn in crypto markets, with bitcoin sliding into the mid-$85,000 range. Nearly $1 billion in leveraged crypto positions were liquidated the day before, worsening already fragile market conditions.

Now, with Bitcoin trading above $87,000, $ABTC shares trade down at $1.61 per share. 

This post American Bitcoin ($ABTC) Enters Top 20 Public Bitcoin Treasury Companies, Holds 5,098 BTC first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Trump Says He Will Consider A Pardon for Samourai Bitcoin Wallet Co-Founder

President Donald Trump said he’ll review the case of Keonne Rodriguez, co-founder of Samourai Wallet, as questions mount over the federal conviction of the Bitcoin privacy software developer. 

When asked about Rodriguez’s upcoming prison sentence, Trump said, “I’ve heard about it. I’ll look at it.”

“I don’t know anything about it,” President Trump said. “But we’ll take a look.” 

Rodriguez publicly acknowledged Trump’s sentiment, tweeting “Your continued noise is working. Thank you to everyone pushing @realDonaldTrump to pardon Bill and me. Let’s get this over the line. #pardonsamourai”

Rodriguez, along with co-founder William “Bill” Hill, was convicted of conspiracy to operate an unlicensed money transmitting business, a charge stemming from Samourai Wallet, a Bitcoin privacy tool that allowed users to mix coins and maintain financial anonymity without giving up custody of their funds.

JUST IN: President Trump says he will consider a pardon for the CEO of privacy-focused Bitcoin wallet Samourai.

"I've heard about it, I'll look at it. Let's take a look at it." pic.twitter.com/WfpLPYOlfj

— Bitcoin Magazine (@BitcoinMagazine) December 15, 2025

Details of the Samourai Wallet case

The case, which began under the Biden administration and continued through the Trump Justice Department, culminated in Rodriguez receiving a five-year sentence and Hill four years, though Hill’s age and recent autism diagnosis led to a reduced sentence.

Critics of the prosecution argue the case represents a dangerous precedent for the cryptocurrency industry. The U.S. Department of Justice claimed that Samourai Wallet facilitated over $2 billion in unlawful transactions and laundered more than $100 million from criminal sources. However, only the “unlicensed money transmission” charge survived a high-profile trial, raising questions about the strength of the case. 

Samourai Wallet’s mixing services, Whirlpool and Ricochet, were designed to obscure the origin of criminal proceeds from activities including drug trafficking, darknet marketplaces, fraud, cybercrime, and murder-for-hire operations. 

Court documents reveal the developers actively encouraged criminal use, describing the service as “money laundering for bitcoin” and promoting its tools on darknet forums.

The Department of Justice framed the case as part of a broader crackdown on crypto mixing services. Rodriguez had requested a light sentence, but the court imposed the statutory five-year maximum.

Trump’s comments come amid his campaign promises to defend the right to self-custody and financial privacy. During the 2024 Bitcoin Conference in Nashville, he pledged to end what he described as the “anti-crypto crusade” of the prior administration.

A pardon for Rodriguez and Hill would signal a clear commitment to those promises, protecting developers from legal exposure for building tools that enhance privacy and security for everyday Americans.

With Rodriguez set to report to prison on December 18 and Hill already sentenced, the Trump administration faces a high-profile decision that could shape the future of financial privacy, software development, and cryptocurrency regulation in the United States.

This post Trump Says He Will Consider A Pardon for Samourai Bitcoin Wallet Co-Founder first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Fidelity Flags Short-Term Crypto Risks, Discusses Bitcoin’s Historic 4-Year Cycle 

Bitcoin and the broader crypto market is heading into 2026 with more questions than clear answers.

A new outlook from Fidelity urges caution for investors chasing short-term gains, while arguing that long-term holders may still have room to enter the market. 

The message reflects a broader shift: crypto is no longer just a high-beta trade for speculators. It is being treated as a strategic asset by governments, corporations, and institutional investors.

That shift accelerated this year.

This year, more governments and companies added digital assets to their treasuries, creating a new source of demand that didn’t exist in prior cycles. 

In March, President Donald Trump signed an executive order establishing a Strategic Bitcoin Reserve for the United States. The order formally designated BTC and select cryptocurrencies already held by the federal government as reserve assets.

The long-term impact of that decision remains unclear. But the symbolism matters. BTC is now officially recognized by the U.S. government as a store of value. That recognition is feeding debate over whether crypto’s familiar four-year market cycle still applies, the report argued. 

Is Bitcoin’s four-year cycle over? 

Bitcoin has historically moved in boom-and-bust patterns tied loosely to its halving schedule. Major tops formed in 2013, 2017, and 2021. Each was followed by deep drawdowns. Today, prices are again pulling back around the four-year mark, raising the question of whether the current bull market has already peaked.

JUST IN: Fidelity reports that Bitcoin's 4 year cycle may be over

Investors "believe we could be entering a supercycle…For reference, a supercycle in commodities in the 2000s spanned nearly a decade." pic.twitter.com/SVQs61lz7N

— Bitcoin Magazine (@BitcoinMagazine) December 15, 2025

Some investors think the cycle is breaking down. The argument is simple: structural demand is changing. Sovereign adoption and corporate balance sheet buying could dampen volatility and reduce the severity of future bear markets. 

Others go further, suggesting bitcoin may be entering a “supercycle” that extends higher for years, with only shallow corrections along the way.

Fidelity Digital Asset’s Chris Kuiper isn’t convinced cycles are dead. Human behavior hasn’t changed, he notes, and fear and greed still drive markets. If the four-year pattern holds, bitcoin would need to have already set its cycle high and be entering a sustained bear market. 

So far, it’s too early to say. The recent drawdown could mark the start of a downturn. Or it could be another mid-cycle shakeout.

Governments and corporations are buying Bitcoin

Also, government adoption adds another layer of complexity. A growing number of countries already hold crypto, but few have formally designated it as a reserve asset. 

That may change. Kyrgyzstan passed legislation establishing a crypto reserve in 2025. In Brazil, lawmakers advanced a proposal that would allow up to 5% of foreign reserves to be held in bitcoin.

Kuiper points to game theory. If one country adopts bitcoin as a reserve, others may feel pressure to follow. Any incremental demand, he says, could support prices, though the scale matters and selling pressure can offset buying.

Corporations are also playing a larger role. More than 100 publicly traded companies now hold crypto, with roughly 50 firms controlling over one million bitcoin combined, per Fidelity. Strategy remains the most visible buyer, but it’s no longer alone. For some firms, bitcoin offers a way to access capital markets and arbitrage investor demand for exposure.

That demand cuts both ways. Corporate buying can lift prices. Forced selling in a downturn could amplify losses.

So, is it too late to buy?

Fidelity’s Kuiper says it depends on the time horizon. Short-term investors may face poor odds if the cycle is near its end. Long-term holders face a different equation. On a multi-decade view, Kuiper argues bitcoin’s fixed supply remains its core appeal. If that holds, the question isn’t timing the cycle. It’s whether adoption continues. In 2026, that answer is still unfolding.

At the time of writing, Bitcoin’s price is rapidly dipping near $86,000.

This post Fidelity Flags Short-Term Crypto Risks, Discusses Bitcoin’s Historic 4-Year Cycle  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Atkins, Peirce Stress Balancing Crypto Transparency and Privacy at SEC Roundtable

SEC Chairman Paul S. Atkins just addressed the ongoing SEC Crypto Task Force Roundtable on Financial Surveillance and Privacy by touching on the dual nature of public blockchain technology and the need to balance government oversight with individual privacy rights.

Atkins underscored that public blockchains are “more transparent than any legacy financial system ever built,” with every transaction recorded on a ledger accessible to anyone.

Atkins also said that chain analytics firms are already adept at linking on-chain activity to off-chain identities, warning that, if misapplied, crypto could become “the most powerful financial surveillance architecture ever invented.”

The chairman cautioned against a regulatory approach that treats every wallet as a broker and every transaction as reportable, which he said could transform the ecosystem into a “financial panopticon.” 

JUST IN: SEC Chair Paul Atkins says "public blockchains are more transparent than any legacy financial system ever built." pic.twitter.com/NfvKhsDPJx

— Bitcoin Magazine (@BitcoinMagazine) December 15, 2025

Such transparency, Atkins explained, could also disrupt traditional market functions: real-time visibility of orders, hedges, and portfolio adjustments could incentivize front-running, copycat strategies, and other dynamics that make market-making and underwriting less attractive.

Privacy in crypto and blockchain 

At the same time, Atkins highlighted the privacy-preserving capabilities of blockchain technology. He pointed to blockchain that allow users to demonstrate compliance without revealing their entire financial history. 

Such tools, he said, could enable regulated platforms to screen users while avoiding permanent, detailed tracking of individual transactions.

“Shielding the lawful activity of our citizens from bulk surveillance while still ensuring that our government can perform essential functions is the best way to protect both national security and our basic civil liberties while also giving room for innovation to flourish,” Atkins said.

He concluded by stressing the importance of creating a regulatory framework that protects Americans’ privacy without stifling technological or financial innovation.

Although he could not remain for the entire roundtable, Atkins expressed confidence that the discussions would help shape policies that uphold both security and personal freedom.

In later opening comments, Commissioner Hester Peirce emphasized that tokenized securities and other crypto assets allow transactions to occur without traditional intermediaries like brokers, reducing the flow of information to government surveillance channels. 

She noted that while disintermediated transactions limit traditional oversight, public blockchains remain fully transparent, creating both opportunities and challenges for monitoring.

Peirce argued that the U.S. financial system’s longstanding erosion of privacy is overdue for reassessment, with crypto pushing the conversation forward.

As crypto adoption grows, Peirce called for thoughtful reevaluation of how and when financial transactions are surveilled, balancing the need to protect consumers from bad actors with preserving privacy rights. 

This post Atkins, Peirce Stress Balancing Crypto Transparency and Privacy at SEC Roundtable first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Crashes Below $87,000 as $200 Million in Crypto Longs Liquidated in an Hour

Bitcoin extended its weekend slide on Sunday, dropping below $87,000 as a fresh wave of liquidations swept through the crypto market, wiping out roughly $200 million in leveraged positions over the past 60 minutes, per Coinglass data. 

At the time of writing, the bitcoin price stood at $86,751, down about 2% over the past 24 hours, according to market data. 

Trading volume totaled roughly $38 billion, while BTC was down 4% from its seven-day high near $89,935 and hovering just above its weekly low around $87,152.

BTC’s circulating supply currently sits at 19.96 million BTC, with a fixed maximum of 21 million, giving the network a market capitalization of approximately $1.73 trillion, down 2% on the day, according to Bitcoin Magazine Pro data. 

The latest leg lower follows another grim weekend for price action. Bitcoin bled from the low-$92,000 range on Thursday to weekend lows near $87,000, as thin liquidity and persistent sell pressure weighed on risk appetite. 

The decisive move below $90,000 occurred during typically illiquid Sunday trading, amplifying downside volatility as traders positioned cautiously ahead of a dense slate of U.S. economic data and central bank events this week.

JUST IN: Bitcoin falls below $87,000

HODL! pic.twitter.com/VypwtmStns

— Bitcoin Magazine (@BitcoinMagazine) December 15, 2025

Strategy buys $1 billion in Bitcoin 

Strategy, the world’s largest publicly traded BTC holder, added nearly $1 billion in bitcoin last week, acquiring 10,645 BTC at an average price of $92,098 per coin. 

This marks the company’s second consecutive mega-purchase, bringing its total holdings to 671,268 BTC, purchased for $50.33 billion at an average cost of $74,972 each. 

The acquisition was primarily funded through equity issuance, with $888.2 million raised via common stock sales and the remainder through STRD preferred shares, despite ongoing shareholder concerns about dilution.

Historically, the company’s weekly purchases had been modest due to fundraising constraints, but Executive Chairman Michael Saylor has recently accelerated buying, signaling renewed conviction despite market volatility.

Separately, Strategy will also remain in the Nasdaq 100 and pushed back against MSCI’s proposed digital asset threshold, which could exclude BTC treasury firms from benchmarks. 

Critics note Strategy now operates more like a bitcoin investment vehicle than a software company, yet Saylor remains unapologetic.

The firm reports a year-to-date BTC yield of 24.9%, underscoring its commitment to accumulating BTC regardless of short-term market fluctuations.

At the time of writing, Bitcoin is trading at $86,770.

This post Bitcoin Crashes Below $87,000 as $200 Million in Crypto Longs Liquidated in an Hour first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Bleeds Below $89,000 After Grim Weekend 

Bitcoin price endured another grim weekend, bleeding from the low-$92,000 range on Thursday to weekend lows near $87,000 as thin liquidity and sell pressure weighed on risk appetite.

The move below $90,000 came during typically illiquid Sunday trading, amplifying downside volatility as traders positioned cautiously ahead of a dense slate of U.S. economic data and central bank events this week.

At the lows, the bitcoin price was down roughly 7% on the month, continuing a choppy consolidation that has defined price action since October’s all-time high, per Bitcoin Magazine Pro data.

Broader crypto markets showed little sign of strength. 

Major altcoins including Solana, XRP, Dogecoin and Cardano continued to slide, extending double-digit monthly losses and reinforcing bitcoin’s dominance near 57% of total crypto market capitalization. Volumes remained muted, reflecting a lack of conviction rather than outright capitulation.

Macro overhangs remain front and center. In the U.S., traders are bracing for employment data, inflation prints, PMI readings and Fed commentary that could reshape rate expectations. 

Globally, attention is turning to Japan, where the Bank of Japan is widely expected to raise rates later this week — an event that could pressure yen-funded carry trades that have helped support risk assets, including bitcoin, over the past year.

Technically, analysts are watching the mid-$80,000s closely. A sustained break below that zone could invite a deeper correction, while holding it would reinforce the idea that the bitcoin price remains range-bound rather than entering a new bear phase.

How low will the Bitcoin price go? 

Despite the uneasy backdrop, some of the loudest bearish calls are running far ahead of the data. Bloomberg Intelligence strategist Mike McGlone warned this week that the bitcoin price could collapse as much as 90% from its peak, potentially revisiting $10,000 in a future deflationary downturn. 

The forecast echoes prior bearish calls and comes as leveraged long positions continue to unwind, with roughly $230 million in bitcoin longs liquidated over the past 24 hours.

On-chain data, however, tells a far more nuanced story.

Bitcoin Magazine Pro’s Price Forecast Tools — built on network fundamentals rather than sentiment — suggest the market is trading below fair value, not on the brink of structural collapse. 

Aggregated indicators such as CVDD, Balanced Price and the Bitcoin Cycle Master currently point to a fair market value near $106,000, with long-term downside risk clustering closer to the $80,000 range rather than anywhere near five figures.

Historically, these metrics have aligned closely with cycle tops and bottoms, offering a framework that cuts through short-term noise. 

While macro conditions will continue to dictate volatility, on-chain signals suggest the current drawdown looks more like late-cycle consolidation than the start of a generational unwind.

At the time of writing, the bitcoin price is $89,317.

This post Bitcoin Price Bleeds Below $89,000 After Grim Weekend  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Michael Saylor’s Strategy ($MSTR) Makes Second Straight $1 Billion Bitcoin Buy

Strategy, the world’s largest publicly traded bitcoin holder, added nearly another $1 billion worth of BTC last week, marking its second consecutive mega-purchase as bitcoin prices pulled back toward the $90,000 level.

The company acquired 10,645 bitcoin for approximately $980.3 million, paying an average price of $92,098 per BTC, according to a filing released Monday. 

Strategy now holds 671,268 bitcoin, purchased for a total of $50.33 billion, giving it an average acquisition cost of $74,972 per coin.

As with recent purchases, the acquisition was funded primarily through equity issuance. The company raised $888.2 million through sales of common stock, with the remainder coming from sales of its STRD preferred shares.

Despite ongoing concerns around shareholder dilution, the company has aggressively leaned on equity markets to increase its bitcoin exposure.

The latest buy comes amid a broader pullback in bitcoin, which dipped below $90,000 over the weekend before stabilizing near $89,600. MSTR shares were flat in premarket trading Monday.

BREAKING: STRATEGY BUYS ANOTHER 10,645 #BITCOIN FOR $980.3 MILLION pic.twitter.com/lbsLi7n6te

— Bitcoin Magazine (@BitcoinMagazine) December 15, 2025

The purchase stands out not only for its size, but for its timing. While Strategy has been a steady buyer throughout 2025, most of its weekly acquisitions in recent months were relatively modest due to fundraising constraints. 

Over the past two weeks, however, Executive Chairman Michael Saylor has ramped up purchases, signaling renewed conviction despite volatility in both bitcoin and Strategy’s stock.

Strategy ($MSTR) stays on the Nasdaq 100

Separately, MSTR confirmed it will remain a constituent of the Nasdaq 100, maintaining its position in the index under the technology category. 

The company has also pushed back against proposals from index provider MSCI, which is reviewing whether to exclude bitcoin treasury companies from its benchmarks.

In the letter, Strategy argued that their proposed digital asset threshold is “misguided” and would have “profoundly harmful consequences.”

MSCI is expected to make a final decision in January.

The company, formerly known as MicroStrategy, pivoted from enterprise software to a bitcoin-focused treasury strategy in 2020. The model has since been replicated by dozens of firms, though critics argue these companies increasingly resemble bitcoin investment vehicles rather than operating businesses.

Still, Saylor has remains unapologetic and bold in his purchasing decisions. As of December 14, 2025, Strategy reports a year-to-date BTC yield of 24.9%, showing its commitment to accumulating bitcoin regardless of short-term market or equity price pressures.

At the time of writing, bitcoin is trading near $89,650. 

This post Michael Saylor’s Strategy ($MSTR) Makes Second Straight $1 Billion Bitcoin Buy first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Coinbase is About to Launch Prediction Markets and Tokenized Stocks: Report

Coinbase is reportedly preparing to launch its own prediction markets, powered by U.S.-based operator Kalshi, in a move that could expand the types of assets available on the exchange amid cooling investor interest in cryptocurrencies, according to reporting from Bloomberg and CNBC.

The announcement is expected to come next week, coinciding with Coinbase’s “Coinbase System Update” showcase on Dec. 17. While the exchange declined to confirm specifics, it encouraged users to tune into the livestream for updates.

Rumors of the new prediction markets have been circulating for nearly a month. In mid-November, tech researcher Jane Manchun Wong shared a screenshot of what appeared to be Coinbase’s prediction markets dashboard. 

The Information first reported the planned launch on Nov. 19, and Bloomberg later cited a source saying the event would also feature the rollout of tokenized stocks.

Coinbase as an ‘everything’ exchange

Coinbase’s moves align with CEO Brian Armstrong’s long-stated vision of building an “everything exchange” — a single platform offering access to crypto tokens, tokenized equities, and event-based contracts. 

Armstrong told investors in May that Coinbase aims to become a leading financial services app within the next decade.

The exchange is accelerating these initiatives amid rising competition from firms such as Robinhood, Gemini, and Kraken

Over the past year, these platforms have expanded tokenized stock offerings outside the U.S. and explored prediction markets, reflecting growing demand for alternative trading instruments.

The timing also comes as investor sentiment toward digital assets has cooled. A wave of liquidations in highly leveraged positions in mid-October triggered a crypto market pullback, prompting some investors to shift capital into safer assets. 

For Kalshi, the partnership marks another step in its strategy to integrate event contracts into mainstream trading platforms. 

Earlier this year, the company embedded its prediction markets into Robinhood, and it is reportedly in discussions with other brokers, including those in crypto, to expand its reach.

Prediction markets let users speculate on outcomes ranging from elections to sports games, and they have grown increasingly popular over the past year. Traditional exchanges and crypto platforms alike are now exploring them as a new way to engage traders. 

Gemini recently received approval to roll out its own prediction markets, while Crypto.com has partnered with the Trump Media & Technology Group on similar initiatives.

Coinbase’s planned in-house tokenized stock offerings would put it on par with competitors like Robinhood and Kraken, which currently offer similar products outside the U.S.

This post Coinbase is About to Launch Prediction Markets and Tokenized Stocks: Report first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Falls Below $90,000 As Vanguard Exec Struggles With Bitcoin Value 

The bitcoin price was trading in the $92,000 range earlier today but has now dropped back toward $90,000, reflecting continued volatility despite the U.S. Federal Reserve’s 25-basis-point rate cut. 

After briefly spiking above $93,000 yesterday, the crypto fell below $90,000 and stabilized around $90,600 at the time of writing.

The pullback comes amid mixed signals from the Fed. While the rate cut to 3.50%–3.75% was widely anticipated, Fed Chair Jerome Powell’s cautious remarks and a 9–3 split among FOMC members — one favoring a deeper 50-basis-point cut and two opposing any reduction — tempered enthusiasm for risk assets, including BTC.

Analysts described the decline as a “sell the fact” reaction, since markets had already priced in the move.

On top of this, Vanguard Group has begun allowing clients to trade spot Bitcoin exchange-traded funds (ETFs), marking a notable expansion in access to crypto products for the $12 trillion asset manager’s investors. 

Yet, Vanguard’s senior leadership emphasized that its fundamental view of BTC and other cryptocurrencies remains skeptical.

John Ameriks, Vanguard’s global head of quantitative equity, said Thursday at Bloomberg’s ETFs in Depth conference that Bitcoin is better seen as a speculative collectible than a productive asset. 

Comparing it to a viral plush toy, Ameriks highlighted that BTC lacks income, compounding potential, and cash-flow generation — the core attributes Vanguard looks for in long-term investments. 

“Absent clear evidence that the underlying technology delivers durable economic value, it’s difficult for me to think about Bitcoin as anything more than a digital Labubu,” he said, according to Bloomberg.

Despite this caution, Vanguard’s decision to allow trading of BTC ETFs on its platform was influenced by the growing track record of such products since the first BTC ETF launched in January 2024. 

Ameriks said the firm wanted to ensure these ETFs accurately reflect their advertised holdings and perform as expected.

Banks engaging with bitcoin

Earlier this week, PNC Bank became the first major U.S. bank to offer direct spot bitcoin trading to eligible Private Bank clients through its digital platform, using Coinbase’s Crypto-as-a-Service infrastructure. 

The launch follows a strategic partnership announced in July and reflects a growing trend among U.S. banks to integrate bitcoin into wealth management services.

Also last week, the Bank of America urged its wealth management clients to allocate 1% to 4% of their portfolios to digital assets, signaling a major shift in its approach to Bitcoin exposure. 

As of today, Bitcoin is trading at approximately $90,115.85, with a circulating supply of nearly 19.96 million BTC and a market cap of $1.81 trillion. 

Prices have fluctuated modestly over the past week, reflecting the broader market’s volatility.

This post Bitcoin Falls Below $90,000 As Vanguard Exec Struggles With Bitcoin Value  first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Five Crypto Firms Win Conditional Approvals as National Trust Banks, Including Fidelity and BitGo

The U.S. Office of the Comptroller of the Currency (OCC) has granted conditional approvals for five digital asset firms — Ripple, Circle, Fidelity Digital Assets, BitGo, and Paxos — to become federally chartered national trust banks, marking a major milestone in the integration of cryptocurrency into traditional finance.

The approvals, announced Friday, allow the firms to convert from state-level trust charters to federal status, subject to meeting the OCC’s conditions. 

Once finalized, these institutions will join roughly 60 other national trust banks regulated by the OCC, gaining the ability to offer fiduciary and custody services nationwide. 

Unlike larger national banks, trust banks cannot accept cash deposits or make loans, but they can hold and manage customers’ digital assets.

‘Huge news’ for crypto

Circle, issuer of the $78 billion USDC stablecoin, said the charter would enhance the safety and regulatory oversight of its reserves while enabling fiduciary digital asset custody for institutional clients.

CEO Jeremy Allaire emphasized that the federal charter would provide “greater clarity and confidence” to institutions building on Circle’s platform as stablecoins gain mainstream adoption.

Paxos, known for PYUSD and the consortium-backed Global Dollar (USDG), said federal oversight would allow businesses to issue, custody, trade, and settle digital assets with clarity and confidence. 

The firm, which has operated under a New York Department of Financial Services (NYDFS) charter since 2015, first applied for a federal charter in 2020.

BitGo, a South Dakota–based crypto custodian, said the federal charter would allow it to expand services nationwide, including trading, staking, stablecoin, and treasury offerings for institutions. BitGo has also filed to go public, reporting $4.19 billion in revenue for the first half of 2025, up from $1.12 billion during the same period in 2024.

The approvals reflect a broader trend toward federal oversight of digital assets, coming after Anchorage Digital became the first federally chartered crypto bank in the U.S. Other firms, including Coinbase, Bridge (owned by Stripe), and Crypto.com, have also applied for federal charters.

OCC Comptroller Jonathan V. Gould emphasized that new entrants into the federal banking sector benefit consumers, foster competition, and promote innovation.

 “The OCC will continue to provide a path for both traditional and innovative approaches to financial services to ensure the federal banking system keeps pace with the evolution of finance and supports a modern economy,” Gould said.

This post Five Crypto Firms Win Conditional Approvals as National Trust Banks, Including Fidelity and BitGo first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Sangha Renewables Energizes 20 MW Bitcoin Mining Facility in West Texas

Sangha Renewables announced the energization of its 19.9-megawatt bitcoin mining facility in Ector County, West Texas today, in partnership with Links Genco and TotalEnergies.

The project operates behind-the-meter on a 150-megawatt solar farm, combining renewable energy generation with digital infrastructure to explore new revenue streams for the energy sector.

The facility, developed with support from Links Genco, uses bitcoin mining to provide dispatchable industrial demand that aligns with variable renewable output. 

Links Genco provided energy structuring and grid compliance services, helping Sangha configure a load profile that complements solar generation while mitigating exposure to transmission constraints and local curtailment, according to a note shared with Bitcoin Magazine.

Back in May, Sangha broke ground on the bitcoin mining facility. The project, developed with an independent power producer, now known as TotalEnergies, was built on an existing solar site in efforts to turn underutilized renewable assets into profitable bitcoin-generating operations.

The opening was marked by a ribbon-cutting ceremony that just wrapped up in West Texas. The event brought together company representatives, local officials, and industry partners, including Links Genco and TotalEnergies.

Under the project agreement, Sangha will own and operate the mining data center, deploy high-efficiency hardware, and manage the load to maximize utilization during periods of excess solar generation. 

TotalEnergies will supply comprehensive retail power solutions, including balancing services, supplemental grid power during non-solar hours, and structured energy products designed to address price volatility while maintaining operational reliability.

By situating the mining facility at the point of generation, Sangha is trying to capture value that may otherwise be lost in areas with transmission congestion.

Bitcoin mining as a means for new energy value streams

The approach also offers a framework for scalable, location-agnostic load, potentially providing additional revenue streams for renewable energy producers and supporting broader grid stability.

“This project highlights how bitcoin mining can become a tool to unlock new value streams for the energy sector,” said Spencer Marr, co-founder and president of Sangha Renewables. 

Marr emphasized that partnerships with energy providers like TotalEnergies demonstrate how digital infrastructure can be integrated into long-term energy planning.

Simon Binet, vice president of Trading U.S. Gas & Power at TotalEnergies, described the arrangement as aligned with the company’s goals to provide innovative energy solutions that support decarbonization efforts in energy-intensive industries.

The ribbon-cutting ceremony included opening remarks from Sangha Renewables, Links Genco, and Judge Dustin Fawcett of Ector County, followed by a guided tour of the mining facility, press interviews, and a photoshoot. 

This post Sangha Renewables Energizes 20 MW Bitcoin Mining Facility in West Texas first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Pakistan Begins Crypto Overhaul With Preliminary Exchange Approvals

Pakistan is moving to formalize its place in the global digital-asset economy, signing a memorandum of understanding with Binance to explore the tokenization of up to $2 billion in state-owned assets while granting early regulatory clearances to both Binance and HTX. 

Together, the initiatives reflect one of the country’s most ambitious pushes yet to merge sovereign finance with blockchain-based infrastructure.

According to Pakistan’s finance ministry, the MoU with Binance will allow the government to assess tokenising sovereign bonds, treasury bills, and commodity reserves — including oil, gas, and metals — as it seeks new tools to boost liquidity and expand market reach. 

Tokenization would create digital representations of real-world assets on blockchain networks, potentially widening investor access and supporting secondary-market efficiency. 

JUST IN: Binance founder CZ met with Pakistan’s Finance Minister and Minister of State.

Asia is coming pic.twitter.com/5ByeqEf7VL

— Bitcoin Magazine (@BitcoinMagazine) December 12, 2025

Finance Minister Muhammad Aurangzeb described the agreement as a signal of Pakistan’s reform trajectory and a step toward a “long-term partnership” aimed at drawing global participation into the country’s debt and commodity markets, according to Reuters. 

Binance founder Changpeng “CZ” Zhao called the MoU an important marker for both Pakistan and the broader blockchain sector, suggesting it clears the way for deeper experimentation with digital asset rails at the sovereign level.

Pakistan is embracing bitcoin and crypto

The tokenisation initiative comes in parallel with a regulatory milestone. Pakistan’s newly formed Virtual Assets Regulatory Authority (PVARA) has issued No Objection Certificates (NOCs) to Binance and HTX after a multi-agency review of each exchange’s governance, compliance, and risk-management systems.

The NOCs allow both firms to register with the Financial Monitoring Unit’s goAML platform, begin local incorporation, and prepare full license applications once the country finalizes its virtual-asset framework.

PVARA emphasized that the early clearances are not operating licenses but the first step in a phased, FATF-aligned path toward full authorization. 

“Strong governance, AML and CFT compliance remain central as Pakistan builds a trusted digital-asset ecosystem,” the regulator said. Chair Bilal bin Saqib added that compliance rigor—not size—will determine which exchanges advance through the licensing process.

The developments are part of a broader digital-finance overhaul that the country has compressed into a few months. 

That includes establishing PVARA, forming the Pakistan Crypto Council (PCC), drafting licensing and taxation rules, and laying groundwork for a central bank digital currency pilot in 2025. 

The country has also signed a letter of intent with U.S.-based World Liberty Financial to explore stablecoin infrastructure and tokenised financial rails.

Saqib’s thoughts at Bitcoin MENA 

Saqib, who serves as minister of state for digital assets, has repeatedly argued that Pakistan must treat Bitcoin, tokenization, and blockchain as foundational elements of future financial architecture. 

At the Bitcoin MENA conference, Saqib argued that bitcoin serves as a practical tool for millions of Pakistanis rather than a speculative bet.

His case was grounded in everyday economic realities. With the Pakistani rupee losing more than half its value in five years, he said people aren’t seeking lessons in monetary theory — they’re looking for protection. 

For many, “bitcoin is not theory, it’s a relief,” offering a hedge against inflation driven by political decisions and chronic currency mismanagement.

Access is the other major issue. Pakistan has a population of about 240 million, yet more than 100 million people remain unbanked. In that context, Bin Saqib said bitcoin provides a pathway to basic financial services that the traditional system has failed to deliver.

At a fireside chat, Saqib tied these grassroots use cases to a broader national strategy. Pakistan, he said, is not trying to “chase the future” but to build a new one. With roughly 70% of the population under the age of 30, the country cannot rely on outdated economic models. 

Saqib said Bitcoin and blockchain-based payment rails enable Pakistani workers to get paid globally without friction, delays or excessive fees. Digital assets, and bitcoin in particular, are being viewed as infrastructure rather than speculation — new financial rails for the Global South.

This post Pakistan Begins Crypto Overhaul With Preliminary Exchange Approvals first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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CFTC Scraps ‘Outdated and Overly Complex’ Crypto Guidance as U.S. Regulations Evolve

The Commodity Futures Trading Commission (CFTC) is rolling back legacy policy on digital assets, marking another step in its reorientation toward regulated crypto markets. 

Acting CFTC Chairman Caroline D. Pham said the agency is withdrawing its years-old guidance on the “actual delivery” of virtual currencies, a document that had shaped how firms could custody and settle digital asset transactions since 2020.

The decision clears a path for new guidance that reflects the rise of tokenized markets, recent legislation and the CFTC’s growing oversight of spot crypto trading.

“Eliminating outdated and overly complex guidance that penalizes the crypto industry and stifles innovation is exactly what the Administration has set out to do this year,” Pham said. 

Pham added that the move shows the agency can protect U.S. traders while supporting broader access to regulated markets.

The withdrawn advisory outlined the conditions under which virtual currency could be considered “delivered” in retail commodity transactions. The framework was drafted in an era when regulated digital asset infrastructure was limited and focused on Bitcoin custody and settlement. 

Since then, Congress passed the GENIUS Act, the CFTC opened the door to regulated spot trading, and tokenization has become a core focus across major financial institutions. Staff now views the 2020 advisory as out of step with current market realities.

The withdrawal also advances the CFTC’s effort to implement recommendations from the President’s Working Group on Digital Asset Markets. 

The CFTC’s broader crypto policy turn

The announcement builds on a series of steps taken in early December that signal an effort to bring crypto activity onshore and under federal supervision. 

Earlier this month, the agency launched a pilot program that permits Bitcoin and other crypto to serve as collateral in regulated derivatives markets. The program includes detailed reporting and risk-management requirements for futures commission merchants, along with updated guidance on how tokenized assets fit within existing CFTC rules.

Under the pilot, firms must submit weekly reports that itemize the digital assets held in customer accounts and notify regulators of any material incidents tied to tokenized collateral. 

The structure is meant to provide the CFTC with visibility into operational and custody risks while firms test the use of crypto in margin accounts.

The agency also issued a no-action position for FCMs that accept non-securities digital assets, including payment stablecoins, clarifying how capital and segregation requirements apply. At the same time, staff withdrew restrictions from 2020 that had limited the use of digital assets as collateral.

CFTC’s guidance with U.S. spot crypto markets 

The CFTC also approved federally regulated spot Bitcoin and crypto trading for the first time. Bitnomial, a U.S. derivatives platform, will begin offering spot, perpetuals, futures and options on a single exchange under full CFTC supervision next week. 

The exchange’s structure supports unified margin and net settlement across product types, reducing redundant collateral requirements for traders.

Pham said the expansion of spot trading under CFTC oversight offers U.S. traders a secure alternative to offshore venues and creates an environment where domestic firms can operate without state-by-state uncertainty.

The agency’s shift extends beyond trading. Polymarket, a crypto-based prediction market, secured approval to relaunch in the U.S. after upgrading its compliance systems and acquiring a registered platform. 

The CFTC has said its broader goal is to strengthen oversight of digital markets without blocking the adoption of new technology.

In other news, the CFTC has approved Gemini’s application for a Designated Contract Market license, clearing the way for the exchange to launch a prediction market and potentially expand into crypto futures, options, and perpetual swaps.

Gemini first applied for the license in 2020, well before the recent surge of interest in prediction markets and platforms.

This post CFTC Scraps ‘Outdated and Overly Complex’ Crypto Guidance as U.S. Regulations Evolve first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts

The bitcoin price fell on Wednesday night into Thursday, even after the U.S. Federal Reserve lowered interest rates, as Fed Chair Jerome Powell signaled a cautious approach heading into 2026.

On Wednesday, the Fed cut its benchmark rate by 25 basis points to 3.50%–3.75%, a move widely expected by markets. However, the 9–3 split among Federal Open Market Committee (FOMC) members and Powell’s hawkish remarks during the press conference tempered investor enthusiasm for risk assets, including cryptocurrencies. 

One official favored a deeper 50-basis-point cut, while two voted against any reduction.

The Bitcoin price briefly jumped over $94,000 but then dropped below $90,000 and stabilized  around $89,730 at the time of writing. 

Bitfinex analysts shared with Bitcoin Magazine that the Fed’s unexpectedly hawkish tone surprised markets, causing a price reversal and kept risk appetites in check. 

The Fed’s updated “dot plot” shows little consensus for more than a single 25-basis-point cut in 2026, with stronger growth forecasts and shifting tax policy limiting near-term easing.

Timot Lamarre, director of market research at Unchained, wrote to Bitcoin Magazine that “
There is so much to be bullish about in the bitcoin space – from Square facilitating bitcoin payments to large institutions like Vanguard now allowing their clients access to bitcoin ETFs to quantitative tightening coming to an end.”

Lamarre said that bitcoin’s recent price movements show a gap between growing adoption and the price increase that usually comes with higher demand.

Bitcoin price decline and broader market pullback 

Bitcoin price’s recent pullback also reflects broader market concerns. Technology stocks, including Oracle, suffered after disappointing earnings and warnings about slower-than-expected AI-related profits. 

Oracle shares fell 11% in after-hours trading following revenue and profit forecasts below analysts’ expectations.

The Fed’s outlook for 2026 suggests only one additional rate cut, fewer than markets had anticipated. Asian stock markets declined, and U.S. equity futures pointed lower, while European trading remained subdued. 

Standard Chartered recently revised its year-end Bitcoin forecast, lowering its target from $200,000 to $100,000, citing a slowdown in corporate treasury buying and reliance on ETF inflows to support future price gains.

Bernstein analysts recently said that they see a structural shift in Bitcoin’s market cycle, meaning that the traditional four-year pattern has broken. They forecast an elongated bull cycle driven by steady institutional buying, which offsets retail selling, and minimal ETF outflows. 

The bank raised its 2026 price target to $150,000 and expects the cycle to peak near $200,000 in 2027, maintaining a long-term 2033 target of roughly $1 million per BTC. 

Meanwhile, JPMorgan remains bullish over the next year, projecting a gold-linked, volatility-adjusted Bitcoin target of $170,000 within six to twelve months, factoring in market fluctuations and mining costs.

Analysts say Bitcoin’s decline after the Fed announcement reflects a “sell the fact” dynamic. “The market had fully priced in the cut ahead of time,” said Tim Sun, senior researcher at HashKey Group. “Concerns over political and economic developments in 2026, combined with potential inflation from AI-driven capital expenditure, are weighing on risk sentiment.”

Last week, Bitcoin price saw a volatile ride, dipping to $84,000 before bulls pushed it up to $94,000, then dropping slightly below $88,000, and closing the week at $90,429.

The market now faces key support at $87,200 and $84,000, with deeper support zones around $72,000–$68,000 and $57,700. 

Resistance levels stand at $94,000, $101,000, $104,000, and a thick zone between $107,000–$110,000, with momentum likely slowing above $96,000.

Typically, rate cuts lead to bullish momentum, but the market may have already priced in this month’s rate cut. The bitcoin price has fallen roughly 28% since its October all-time high. 

At the time of publishing, the bitcoin price is at $90,114.

This post Bitcoin Price Fights For $90,000 Despite Fed Rate Cuts first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Klarna Partners With Privy to Explore Use of Crypto Wallets

Just weeks after announcing a stablecoin, Swedish fintech giant Klarna is taking another step into crypto. The company has teamed up with Privy, a wallet infrastructure platform owned by Stripe, to explore digital asset solutions for its users.

The partnership will focus on research and development of crypto wallet features, the company said. The two aim to make it easier for everyday users to store, use, and send digital assets. The move builds on the company’s recent launch of KlarnaUSD, a U.S. dollar-backed stablecoin issued on the Tempo blockchain.

“Millions already trust Klarna to manage everyday spending, saving, and shopping,” said Sebastian Siemiatkowski, CEO and co-founder. “That puts us in a unique position to bring crypto into the financial lives of normal people, not just early adopters. With Privy, we plan to build products that feel as intuitive as any other Klarna feature.”

KlarnaUSD was launched with Tempo and Bridge, a Stripe-backed stablecoin infrastructure provider. 

The token is live on Tempo’s testnet and expected to launch on mainnet in 2026. The fintech giant said the stablecoin could reduce global cross-border payment costs, currently estimated at $120 billion annually.

JUST IN: Fintech giant Klarna to develop #Bitcoin and crypto wallet features within its financial products.

Bullish pic.twitter.com/UChKCUyOzZ

— Bitcoin Magazine (@BitcoinMagazine) December 11, 2025

100 million accounts coming to crypto via Klarna

Privy powers over 100 million accounts for more than 1,500 developers. The platform supports crypto-native applications like OpenSea and Hyperliquid. 

Henri Stern, CEO and co-founder of Privy, said the partnership will allow users to hold a wide variety of digital assets, trade safely, and transact with friends anywhere in the world.

“We’re proud to partner with world-class fintechs like Klarna, providing the secure, enterprise-ready infrastructure they need,” Stern said. “Privy aims to be the backbone for any business that wants to harness the exciting capabilities crypto and stablecoins offer.”

The initiative reflects a growing trend. Traditional fintechs are now testing ways to integrate crypto tools into everyday consumer finance. The company said any future wallet or crypto product would require the necessary regulatory approvals before launch.

Venture capital firm a16z estimates that 716 million people globally hold cryptocurrencies. Between 40 million and 70 million transact with crypto each month. That figure grows by roughly 10 million users a year.

Klarna’s push into crypto marks a sharp turn for the company. CEO Siemiatkowski was once a vocal skeptic of digital currencies. 

He said the market’s maturity and Klarna’s global reach now justify this entry. Klarna serves 114 million customers and processes $112 billion in annual gross merchandise volume.

The company plans to explore further crypto initiatives. A blog post on Thursday hinted at a new announcement “in a week or so,” suggesting more developments are coming soon.

This post Klarna Partners With Privy to Explore Use of Crypto Wallets first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Satsuma Technology Sells 579 Bitcoin Ahead of Planned LSE Uplisting

Satsuma Technology (LSE: SATS) sold nearly half its bitcoin treasury and announced major board changes as it prepares for a planned uplisting to the London Stock Exchange’s main market.

The U.K.-based company sold 579 BTC out of its 1,199 BTC holdings, raising about £40 million ($53 million) in net proceeds, according to a Thursday announcement. The move leaves Satsuma with 620 BTC and roughly £90 million in cash.

The sale is designed to ensure the company has enough liquidity to repay £78 million in convertible loan notes due on Dec. 31, 2025. 

Some noteholders have not yet committed to converting their debt into equity once Satsuma publishes its prospectus for the uplisting. The company said it wants to hold sufficient cash in case those conversions do not occur.

Alongside the treasury move, Satsuma proposed appointing Ranald McGregor-Smith as Chair and Clive Carver as Senior Independent Director. Both would join upon completion of the uplisting.

McGregor-Smith spent his career advising FTSE100 and FTSE250 firms and co-founded corporate broker Whitman Howard. He also sits on the board of Sabien Technology Group. Carver, a chartered accountant, has chaired and served as a non-executive director at several listed companies over the past decade and will also chair Satsuma’s Audit Committee.

Current Chair Matt Lodge will step down after the uplisting but remain on the board. Non-executive director Darcy Taylor resigned immediately as part of the restructuring.

CEO Henry K. Elder said the board changes bring stronger PLC governance at a key transition point. He also said the bitcoin sale positions the company for “stability and growth” as it advances its broader strategy.

Satsuma shares edged up to 1.05 pence following the announcement. The stock remains down nearly 30% over the past month.After the sale, Satsuma ranks as the 61st largest publicly traded bitcoin holder.

65% of Bitcoin treasuries in the red 

In November, roughly 65% of corporate Bitcoin treasuries were in unrealized losses after Bitcoin briefly fell below $90,000, per the Bitcoin Treasuries Corporate Adoption Report. 

The report, covering 100+ companies, shows large treasuries like Strategy and Strive dominated net purchases, while early signs of selling emerged, led by Sequans. 

Quarterly accumulation slowed but remains steady, with Q4 2025 on track for ~40,000 BTC added. Mining companies now hold 12% of corporate BTC. 

Public and private treasuries bought over 12,644 BTC in November, bringing total holdings past 4 million BTC. Global diversification and disciplined buying continue despite volatility.

This post Satsuma Technology Sells 579 Bitcoin Ahead of Planned LSE Uplisting first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

65% of Corporate Bitcoin Treasuries Are Underwater: Report

Corporate Bitcoin treasuries faced mark-to-market losses in November, according to an exclusive Corporate Adoption Report from Bitcoin Treasuries. 

The report, covering more than 100 companies, offers a systematic look at how last month’s price drop affected public company holdings.

Bitcoin briefly fell below $90,000 in late November. The decline pushed many 2025 buyers into the red. Of the 100 companies for which cost basis is measurable, about two-thirds now sit on unrealized losses at current prices, per the report.

Despite the volatility, large balance sheets continued to dominate net Bitcoin buying. Strategy, Strive, and a small cohort of high-conviction buyers accounted for most net additions. 

Strategy alone represented roughly 75% of net new buying after sales.

Public Bitcoin treasury equities remain weak versus BTC and broad indices. Still, a minority of companies delivered at least 10% gains over the past 6–12 months. 

Early signs of corporate Bitcoin selling also emerged. At least five companies reduced BTC exposure in November. Sequans led the group, selling roughly one-third of its holdings. While small in aggregate, these moves suggest some management teams are willing to crystallize losses or de-risk when volatility spikes.

Quarterly Bitcoin accumulation is slowing, but not collapsing. Q4 2025 is on track for roughly 40,000 BTC in net additions to public company balance sheets. This is below the last four quarters but broadly in line with Q3 2024, as companies normalize to a slower, more selective accumulation pace.

In November, public and private treasuries purchased, added, or disclosed over 12,644 BTC in November and the total BTC held across all tracked entities surpassed 4 million by month’s end. 

Bitcoin purchases

Big treasuries know for their bitcoin buying continue to dominate purchases. Strategy added 9,062 BTC across three transactions in November, per the report.

Its largest buy, 8,178 BTC, came on Nov. 17. Strategy ended the month with 649,870 BTC, worth about $59 billion. Currently, the company has 660,624 after some December purchases. 

Strive added 1,567 BTC at an average price of $103,315 per BTC in November. The purchase brought its month-end holdings to 7,525 BTC, or $684 million. The company funds its Bitcoin strategy primarily through perpetual preferred equity.

Mining companies remain significant players. Cango and Riot added 508 BTC and 37 BTC, respectively, from mining operations. American Bitcoin added 139 BTC through combined purchase and mining strategies. 

Per the report, mining companies now account for 12% of public company BTC holdings.

Bitcoin selling and rebalancing

Sales were limited but notable. As mentioned earlier, Sequans sold nearly one-third of its holdings, to reduce convertible debt. Hut 8 reduced holdings by 389 BTC. KindlyMD and Genius Group also trimmed exposure.

Some companies added small amounts even amid the downturn. DDC Enterprise Limited picked up 100 BTC during the pullback. 

Metaplanet continued “additional purchase” filings on the Tokyo exchange. ETF flows returned to net inflows after a month of redemptions.

The data suggests a barbell pattern: small distressed sellers versus programmatic buyers and disciplined treasuries. Investors see BTC increasingly used as collateral or for cash flow, rather than just as a speculative asset.

Global trends and future outlook

Corporate Bitcoin holdings are increasingly global. U.S. companies dominate the top 20, but Japan, China, Europe, and other regions are growing. 

Non-U.S. public company holdings rose 3,180 BTC from two months prior, now representing about 9% of all public company BTC. Analysts say this geographic diversification reduces regulatory risk.

Despite November’s volatility, corporate adoption of Bitcoin continues. Large treasuries are still buying aggressively. The quarterly pace of accumulation is slower than earlier in 2025, the report noted, but steady growth persists. 

Those interested in reading the full report can do so below:

This post 65% of Corporate Bitcoin Treasuries Are Underwater: Report first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Bitcoin Price Briefly Pumps Above $94,000 As Fed Cuts Rates

Bitcoin price surged above $94,000 today following a 25-basis-point rate cut by the Federal Reserve.

The Fed lowered its benchmark interest rate to 3.50%–3.75% to support maximum employment and contain somewhat elevated inflation amid moderate economic growth and slowing job gains.

This is the Fed’s third rate cut this year and the first since October. Most officials backed the move, while three dissented — one favoring a larger cut, two preferring no change.

Fed forecasts for 2026 and 2027 remain modest, with expectations for small rate reductions, 4.4% unemployment, and 2.4% PCE inflation.

The rate decision pushed the Bitcoin price higher, although markets had largely priced in the cut. BTC briefly hit $94,500, reaching a seven-day high. 

Trading volume over the last 24 hours totaled roughly $46 billion. The cryptocurrency’s market cap stands near $1.86 trillion, with a circulating supply of just under 20 million BTC, according to Bitcoin Magazine Pro data.

Bitcoin’s recent rally reflects broader adoption trends and institutional interest. PNC Bank became the first major U.S. bank to offer direct spot bitcoin trading to eligible Private Bank clients using Coinbase’s infrastructure.

Last week, Bank of America advised its wealth management clients to allocate 1%–4% of portfolios to digital assets.

Coinbase Institutional highlighted that speculative leverage has fallen from 10% to 4%–5% of total market capitalization, signaling a potential end to extreme volatility. Ark Invest CEO Cathie Wood suggested the market may have already seen its four-year cycle lows.

The Fed’s decision came amid mixed signals from broader financial markets. The 10-year Treasury yield has risen, reflecting investor concern that easing policy now could spur inflation later. 

At the time of writing, Bitcoin trades around $92,505, up roughly 3% in the last 24 hours.

Bitcoin price analysis

Last week, Bitcoin price saw a volatile ride, dipping to $84,000 before bulls pushed it up to $94,000, then dropping slightly below $88,000, and closing the week at $90,429.

 The market now faces key support at $87,200 and $84,000, with deeper support zones around $72,000–$68,000 and $57,700. 

Resistance levels stand at $94,000, $101,000, $104,000, and a thick zone between $107,000–$110,000, with momentum likely slowing above $96,000.

Typically, rate cuts lead to bullish momentum, but the market may have already priced in this month’s rate cut.

Bitcoin is down close to 25% from its all-time highs.

This post Bitcoin Price Briefly Pumps Above $94,000 As Fed Cuts Rates first appeared on Bitcoin Magazine and is written by Micah Zimmerman.