Crypto firm, Strategy, which has been pursuing an aggressive Bitcoin acquisition plan for the eleventh consecutive week, increased its overall holdings to over 592,000 Bitcoins, valued at over $63.6 billion, by adding 245 Bitcoins worth $26 million. Bitcoin enthusiast and co-founder of Strategy, Michael Saylor wrote in a post on X (formerly Twitter) that they plan to continue accumulating Bitcoins. “In 21 years, you’ll wish you’d bought more,” he wrote on X.
Strategy now holds more Bitcoin than the top 20 public corporate holders combined, solidifying its position as the largest known corporate Bitcoin treasury. While the move has raised hopes of a future supply squeeze, analysts remain divided. Some question the long-term stability of companies funding Bitcoin buys through high leverage and equity.
According to Cointelegraph, Strategy’s advantage lies in its scale, discipline, and prior bear market experience. One market analyst recently projected a 91 per cent chance that the firm could join the S&P 500 by the second quarter of 2025.
Iranian Crypto Exchange Nobitex Starts Restoring Services After $100M Hack
Iranian crypto exchange Nobitex is gradually restoring services after being hacked for $100 million by pro-Israel hacker group Gonjeshke Darande on June 18. The exchange announced that only verified users will have wallet access, with spot traders prioritised. It warned users not to deposit funds into old wallet addresses due to system migration.
The hacker group claimed the attack was politically motivated, alleging Nobitex’s ties to the Iranian government. They burned $90 million in assets and released the platform’s source code.
According to Chainalysis, Nobitex is central to Iran’s crypto infrastructure, handling $11 billion in inflows, more than all other Iranian exchanges combined. Following the hack, Iranian authorities imposed new operating hour limits on domestic crypto platforms.
Kenya’s Crypto Bill Sparks Concerns Over Binance Influence
Kenya’s draft Virtual Asset Service Providers (VASP) Bill has drawn criticism from some local crypto stakeholders who fear it may grant outsized influence to Binance through a linked industry body. According to Cointelegraph, the Virtual Asset Chamber of Commerce (VAC), a private think tank, is expected to be included on the proposed regulatory board overseeing the country’s digital asset space.
Concerns have also been raised over VAC’s alleged ties to Binance, with stakeholders claiming that the group has hosted Binance-sponsored policy events and lacks independence. Critics argue that VAC’s inclusion in a regulatory capacity could threaten fair competition and transparency in Kenya’s crypto market. VAC has reportedly defended its involvement, citing past engagement with major institutions, such as the IMF, Central Bank of Kenya, and the Kenyan Parliament. The proposed regulatory board would feature members from key government institutions, including the National Treasury, the Central Bank of Kenya, and the Capital Markets Authority.
