Bitcoin Holds Steady Amid Stock Market Decline
Bitcoin remained stable at around $64,115 during a week of stock market declines driven by rising oil prices and mixed corporate earnings. The S&P 500 was set for its first weekly drop in over two months as geopolitical tensions between the U.S. and Iran escalated alongside new tariffs announced by former President Donald Trump. Meanwhile, Strategy (MSTR) maintained its Bitcoin holdings at a value of $54.5 billion while increasing cash reserves to $3.23 billion through stock sales. Prediction market platform Kalshi added three million users during the FIFA World Cup and reported over $1.2 billion in trading volume. Hut 8 secured an AI-focused data center lease worth $9.8 billion, boosting its computing capacity significantly. Galaxy Digital also announced a new initiative to protect Bitcoin from quantum computing threats by allocating $5 million for research into security solutions.