Bitcoin jumped more than 2% on Monday, putting it on track for its best day in over a month after a nearly 3% drop the previous week. The rebound comes ahead of a White House meeting with crypto industry leaders and as Strategy discloses a $333.7 million share sale that left its Bitcoin holdings unchanged.
Bitcoin rose more than 2% on Monday, putting the cryptocurrency on track for its best day in over a month. The advance follows a stretch in which Bitcoin shed nearly 3% last week.
The token was last up 2.3% to $64,282.9 by 18:25 ET (22:25 GMT). Middle East jitters, regulatory setbacks, and disclosure of more sales by top corporate holder Strategy had weighed on it last week, and continued capital outflows from spot Bitcoin also clouded the mood.
Trump set to meet crypto leaders at White House this week
President Donald Trump is expected to attend a White House meeting of his administration's new innovation committee on Wednesday, Coindesk reported. Crypto CEOs and prediction market leaders are set to attend, alongside participants from traditional finance and artificial intelligence.
The Wednesday session is a precursor to a meeting at the Commodities Futures Trading Commission, which oversees the innovation committee, on Thursday. The CFTC is expected to discuss more crypto regulation there, amid continued sparring among lawmakers over the long-delayed Clarity Act.
Bitcoin ETFs nurse deep weekly outflow
Spot Bitcoin ETFs clocked nearly $390 million in outflows last week, data from aggregator SoSoValue showed. That was the worst weekly outflow since early July and coincided with the nearly 3% drop in Bitcoin prices. Bitcoin and broader crypto markets lagged a rally in tech and AI stocks last week, as upbeat chipmaker earnings lifted sentiment toward that sector.
On Monday, Bitcoin was helped by news that the U.S. Treasury is seeking public comment on the issuance, offering, and sale of payment stablecoins under the GENIUS Act.
Strategy sells $333.7 million in shares, Bitcoin holdings unchanged
Strategy, the Bitcoin treasury company, sold roughly $333.7 million worth of its own shares last week, according to a regulatory filing on Monday. The company sold 3,458,866 shares between August 10 and August 16 and made no Bitcoin purchases or sales during that period.
Strategy directed $52.4 million to fund dividends on its STRC preferred stock, $132.2 million toward STRC share repurchases, and $149.1 million to bolster its cash reserves, bringing its USD holdings to $4.8 billion. Its Bitcoin position remains unchanged at 840,447 tokens, valued at approximately $53.4 billion at current prices. The company's average purchase price works out to $75,385 per bitcoin, for a total investment of about $63.4 billion including fees and expenses.
Source: Investing.com
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