Key highlights:
- Bitcoin price stayed steady through the week, trading around $63k to $65k
- The U.S. Senate delayed its Clarity Act vote until September
- Strategy sold more BTC
- Arthur Hayes said Bitcoin could reach $1 million
- A Coldcard wallet bug led to the theft of thousands of BTC
The crypto market was fairly stable this week, but some developments kept investors on their toes. For instance, the delay of the U.S. crypto bill, new
President Donald Trump is also reviewing proposed ethics language on the crypto bill, according to Bloomberg. Senators Thom Tillis and Ruben Gallego sent Trump the draft that could see him stop investing in crypto-related businesses.
Strategy sold more Bitcoin as reserve grows
Strategy made another Bitcoin sale this this week. The Michael Saylor-led company sold 1,638 BTC for $104.73 million. The sale reduced the company’s Bitcoin holdings to 842,138 BTC.
The company also raised $290.6 million through the sale of its common stock. Also, it repurchased 912,143 shares of its preferred stock, STRC, for $81.2 million.
Notably, Strategy added $250 million to its U.S. dollar reserve, which brought its total reserve to about $4 billion. The cash is meant to help cover preferred-stock dividends and other financial obligations.
In other developments, Michael Saylor said he used ChatGPT to raise about $15 billion for the company, according to a Fortune Report.
Arthur Hayes said BTC will hit $1 million
Even with some institutions offloading tokens, crypto investor Arthur Hayes stayed bullish on Bitcoin.
Hayes shared that BTC could hit $1 million thanks to the current artificial intelligence boom. The prominent crypto investor compared today’s AI investments with the U.S. housing boom before the 2008 financial crisis.
He argues that banks and other institutions are spending a lot on AI infrastructure. If demand fails to keep up with that investment, some companies could run into financial crisis, according to him. Hayes said this could lead to amounts of new liquidity, which could flow into assets like Bitcoin.
Coldcard hack was the talk of the week
Asset security was a major talking point this week. Galaxy Research highlighted three attack waves that saw about 1,596 BTC being stolen from 7,300 addresses as of Monday.
As of press time, it was shared that the total loss may have gone past 2,055 BTC, worth $130 million based on the figures reported.
Coinkite co-founder Rodolfo Novak told affected users to move their funds immediately as the company looked to fix the bug.
Other updates this week include the S&P 500 reaching a new record high of 7,791. It was the index’s 25th record high of 2026 and its 121st record since the start of 2024.
Source:: Weekly Crypto Recap: CLARITY Act Delayed, Strategy Sells BTC and More