Quick Read – Matt Cole declared the Bitcoin bear market over after BTC broke out against the dollar and gold simultaneously, lifting Strive 5% and Strategy 3%. – Strategy raised over $2 billion selling shares without touching its 840,447 Bitcoin, parking $1.57 billion in a new…
restricted cash account. – SharpLink’s institutional ownership jumped 12 points to 60% while the Bitcoin miner ETF slid 2% and sits down 20% over the past month. – Strive (NASDAQ:ASST) stock is up 5% to $19.09 in early Monday trading after CEO Matt Cole declared the Bitcoin (CRYPTO:BTC) bear market over, with Strategy (NASDAQ:MSTR) stock up 3% to $123.05 and Bitmine Immersion Technologies (NYSE:BMNR) stock up 3% to $23.50. Also, SharpLink (NASDAQ:SBET) stock is climbing 2% to $8.10 as the treasury complex moves together
Bitcoin is up 2% over the past 24 hours to $78,987.45, and Ethereum (CRYPTO:ETH) is up 2% to $2,508.83 on the same tape. However, the CoinShares Bitcoin Mining and Digital Power ETF (NASDAQ:WGMI) is down 2% to $45, and the fund was down 20% over the past month through Friday’s close. Miners and treasury vehicles are moving in opposite directions today.
Cole’s Bear Market Call Ignites Treasury Names Cole cited Bitcoin’s breakout against both the U.S. dollar and gold in the same week when he stated, “My conviction is very strong that the Bitcoin bear market is over.” Strive holds 20,246 Bitcoin at an average cost of $94,345, ranking seventh among public company holders. The position sits at an unrealized loss against current spot, so a durable move higher directly repairs Strive’s balance sheet. Director Pierre Rochard disclosed a Form 4 purchase of 15,900 Strive shares at a weighted average of $12.54, his initial direct equity position in the company.