Anthropic · Bloomberg · Bitcoin · Strategy · Donald Trump · Cointelegraph
Crypto Biz: Bitcoin’s $116 million self-custody wake-up call
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A $116 million Bitcoin wallet exploit puts self-custody under scrutiny as ETF inflows rebound, Strategy eyes more BTC and miners chase billions in AI deals.
Key facts
- In July, it sold $159.6 million in Bitcoin-related securities and used the proceeds to buy more Bitcoin, bringing its holdings to about 14,139 BTC worth $890.5 million by July 31
- Elsewhere, Strategy is preparing to resume Bitcoin purchases after a rare bout of selling, Riot Platforms is reportedly turning its mining infrastructure into a $9 billion AI deal, and Trump Media
- Le told FOX Business that Strategy bought roughly 175,000 BTC and sold about 7,000 BTC this year, about 25 times more buying than selling
- Anthropic reportedly struck a $9 billion deal with Riot Platforms for 191 megawatts of capacity from the Bitcoin miner’s Texas campus, highlighting how access to power is becoming increasingly
Summary
A $116 million hardware wallet exploit has reopened one of Bitcoin’s oldest debates: Is holding your own keys worth the risk? Elsewhere, Strategy is preparing to resume Bitcoin purchases after a rare bout of selling, Riot Platforms is reportedly turning its mining infrastructure into a $9 billion AI deal, and Trump Media is rethinking its crypto treasury strategy after a $238 million quarterly loss. Strategy CEO Phong Le said the company plans to resume Bitcoin accumulation later this year, seeking to reinforce its long-term strategy after a series of relatively small sales drew scrutiny over its once-firm “never sell” stance. Le told FOX Business that Strategy bought roughly 175,000 BTC and sold about 7,000 BTC this year, about 25 times more buying than selling.