Strategy (formerly MicroStrategy) resumed Bitcoin purchases after a two-month pause, acquiring 4,603 BTC for $370 million. The company sold at lower prices and bought back at higher levels. Bitcoin ended August with a near‑25% gain, the first green August during a bear market, but fell sharply after a stronger‑than‑expected U.S. jobs report raised rate‑hike expectations. Altcoins ZEC, XMR and UNI posted significant weekly gains. Gold erased all its August gains, while Bitcoin held above $77,000. Fidelity analysts warned the bear market may not be over.
Strategy returned to the bitcoin‑buying scene after a two‑month hiatus. The firm accumulated 4,603 BTC for $370 million, but, according to the report, it sold low and bought high.
Bitcoin briefly surged past $82,400 on Friday, its highest since mid‑May. The move was reversed after the U.S. jobs report came in much stronger than expected, prompting a $2,000 slump on assumptions that the Federal Reserve will be more inclined to raise rates.
The primary cryptocurrency ended August in the green for the first time during a bear market, signaling a shift in sentiment. Weekly winners included ZEC, which gained 20% and surpassed $1,000, XMR up 10%, and UNI rising almost 40%.
Gold, which exploded alongside Bitcoin in mid‑August, lost all its gains and dipped below its starting price. Bitcoin held up better, remaining roughly 25% higher even after the correction.
BitMEX former CEO Arthur Hayes said investors should ignore Fed Chair Kevin Warsh and instead watch the euro‑yen exchange rate for Bitcoin’s next move. He argued that the Fed is not the most important factor.
Trezor disclosed that a breach at its logistics partner ShipMonk was much larger than initially thought. The actual number of affected U.S. customers exceeds 80,000, not the previously reported 13,689.
Fidelity analysts noted that while Bitcoin climbed back above $80,000, historical references suggest “the bear market may not be over yet.” The firm advised caution despite the recent rally.
