HashWhale Crypto Weekly | Clear Upward Channel for Bitcoin; Bullish Tone Remains Unchanged (8.02-8.08)

Author: Mongqi | Editor: Mongqi

1. Bitcoin Market

Bitcoin Price Trend (2025/08/02-2025/08/08)
This week, Bitcoin presented an overall price structure of "high-level correction - bottoming - stepwise rise," accompanied by macro data and policy disturbances, with market sentiment initially suppressed and then rebounding.

Correction Phase (August 2 - August 3)

After a significant correction on August 1, the weak trend continued on August 2, with prices declining from around $115,608 to $112,984. On August 3, selling pressure continued to be released, further dropping from around $114,000 to $112,044, marking the week's low and triggering a liquidation of leveraged long positions exceeding $1 billion in the crypto market.

This decline was primarily driven by two factors:

1. The U.S. non-farm payroll data for July fell short of expectations, exacerbating concerns about slowing economic growth.
2. The U.S. announced a new round of tariff policies, leading to synchronized pressure on global risk assets, with crypto assets declining in tandem with U.S. stocks and commodity markets.

From a technical perspective, the $112,000 level played a key support role, forming a temporary bottom in the short term, with signs of a stop-loss emerging.

Recovery Phase (August 3 - August 8)

Volatile Rebound (August 3 - August 5)
After rebounding from the low of $112,044, Bitcoin reached a temporary high of $115,698 on August 5, followed by profit-taking, with prices correcting to $112,760. However, this low was higher than the previous correction low, indicating an enhanced buying capacity.

Stepwise Rise (August 6 - August 8)
Starting from August 6, prices exhibited a typical "climb - slight correction - re-peak" stepwise rising structure. Each correction low was elevated, forming a clear short-term ascending channel. Prices rose sequentially to $114,161, $115,694, $116,828, and $117,619. As of the time of writing on August 8, Bitcoin prices remained at $117,553. By the end of the week, Bitcoin had risen compared to the beginning of the week, and market sentiment had significantly recovered from the initial correction.

Outlook

In the short term, the structure remains oscillating upward, with effective support from the ascending channel. If it can effectively break through and stabilize above the $116,000 level, it may challenge the $118,000 - $120,000 range above. However, caution is needed regarding macro uncertainties and technical correction risks, especially if it falls below the support at $112,000, which may test the psychological level of $110,000 again. Key areas to monitor include: changes in ETF fund inflows/outflows; U.S. CPI and PPI data releases; and policy statements from Federal Reserve officials and other macro information.

In the long term, despite short-term volatility intensifying, the long-term bullish structure of Bitcoin has not been disrupted. Favorable factors such as the gradual improvement of the regulatory framework, the expansion of stablecoin scale, and institutions accelerating tokenization layouts remain firmly in place. If global risk asset sentiment warms up, coupled with a rebound in net inflows of spot ETF funds, Bitcoin is expected to challenge historical highs again within the year.

2. Market Dynamics and Macro Background

Fund Flows

1. Although there is significant outflow pressure from ETFs, signs of later inflow are emerging

Data shows that Bitcoin spot ETFs faced large-scale redemptions in the first two days of this week, creating temporary downward pressure. However, on August 6 and August 7, there were two consecutive days of fund inflow, indicating a relief in selling pressure. The specific daily data is as follows:

• August 4: -$323.5 million (the largest single-day outflow this week)

• August 5: -$196.2 million (on that day, IBIT, FBTC, and GBTC collectively redeemed $196.2 million, with nearly $100 million flowing out of Fidelity's FBTC)

• August 6: +$9.16 million (brief fund inflow)

• August 7: +$12.08 million (inflow strength further increased)

ETF inflow/outflow data image

Weekly statistics show that Bitcoin spot ETFs had a cumulative net outflow of approximately $307 million this week, with the main pressure concentrated at the beginning of the week. However, the inflow trend in the latter half of the week helped to restore sentiment.

It is worth noting that on August 1, the total net outflow of Bitcoin spot ETFs reached $812 million, setting the second-highest single-day outflow record in history, highlighting the extreme risk-averse sentiment in the market at the beginning of the month.

The outflow of funds at the beginning of the week was mainly influenced by the Federal Reserve's hawkish stance and better-than-expected U.S. employment and GDP data, which strengthened the dollar and suppressed risk asset sentiment.
Starting mid-week, the inflow of funds may be related to Bitcoin prices finding support in the technical support zone and some institutions buying the dip, indicating that there is room for short-term sentiment recovery.

2. Institutional internal operations diverge: ETF issuers reduce holdings vs. treasury-type institutions increase holdings

• According to Arkham data, ETF issuers such as Fidelity, Grayscale, and BlackRock have transferred BTC to exchanges this week, suspected to be for reduction operations.

• Fidelity had a single-day outflow of 2,965 BTC

• BlackRock transferred 2,544 BTC to Coinbase Prime

• In contrast, several Bitcoin treasury companies (such as Empery Digital, H100, Metaplanet) have been steadily increasing their holdings, showing a divergence in strategies among different types of institutions.

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3. On-chain data: Large holders and retail investors are both increasing their holdings, indicating a "buy on dips" market

• Glassnode data shows that in the past 15 days:

• Large holders with over 10,000 BTC have increased their holdings

• Retail investors holding less than 1 BTC have also significantly increased their holdings

• The market is forming a "buy on dips" sentiment in the current price range.

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4. OTC market supply tightens, exchanges may face liquidity pressure

• According to Cointelegraph, OTC platform reserves have dropped to 155,000 BTC, nearing historical lows.

• Analysts believe that once OTC supply runs dry, major buyers may turn to exchanges for accumulation, potentially triggering a supply shock that drives prices up.

• Currently, the BTC balance on exchanges is 2.919 million, with over $1 billion in profits realized within 24 hours, of which $358 million comes from long-term investors holding for 7-10 years.

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5. MicroStrategy significantly increases holdings, consolidating market confidence

• This week it was confirmed that MicroStrategy purchased a total of 21,021 BTC from late July to early August, with a total cost of approximately $2.46 billion, bringing its total holdings to 628,791 BTC, ranking first among global enterprises.

• Against the backdrop of ETF outflows, the actions of such steadfast holders inject medium- to long-term confidence into the market.

6. Institutions increased their holdings by 166,000 BTC in July, with a market value of $42.8 billion

• According to The Block, institutions collectively increased their holdings by 166,000 BTC in July, bringing total holdings to 3.64 million BTC (worth approximately $42.8 billion).

• Public companies made significant contributions, with MicroStrategy alone adding 31,400 BTC.

• During the same period, Ethereum ETFs saw net inflows of about $73.2 million, and assets like Solana also received allocations, indicating a strengthening trend in multi-chain asset investment.

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Viewpoint: Pressure at the beginning of the week, recovery over the weekend, and mid-term bottoming signals strengthen

In the short term: The first two days of this week saw significant ETF fund outflows (a total of $520 million on August 4 and 5), reflecting the market's reaction to high interest rates and macro uncertainties, leading to temporary price pressure. However, since August 6, there have been two consecutive days of fund inflow (a total of +$212.4 million), indicating that selling pressure has been partially released, with signs of sentiment recovery in the short term.

In the mid-term: Continuous accumulation by on-chain and corporate treasuries is building a support range below, especially as OTC reserves continue to decline and exchange liquidity tightens, which may lead to a supply-demand reversal in the future, stabilizing and pushing prices up.

Confidence indicators: Long-term steadfast holders like MicroStrategy continue to increase their positions despite ETF outflows, indicating that "faith-based funds" are not affected by short-term volatility, and the medium- to long-term bullish logic remains valid.

Summary

This week, Bitcoin's funding situation exhibited a "two-phase" trend of pressure followed by stability: large-scale redemptions of ETFs at the beginning of the week led to pressure, but the inflow of funds and on-chain accumulation in the latter half of the week provided support. Although short-term volatility risks remain, market panic has been partially digested; mid-term supply tightening and institutional confidence persist, accumulating momentum for the next upward move. The current range may become an important observation period for value allocation.

Technical Indicator Analysis

1. Relative Strength Index (RSI 14)
According to Investing.com data, as of August 8, 2025, Bitcoin's 14-day RSI is 58.17, positioned in the neutral to bullish zone (50~70 range). This indicates that bullish momentum still dominates the market, but it has not yet entered the overbought zone (>70), suggesting there is still some room for short-term upward movement.

2. Moving Average (MA) Analysis

• MA5 (5-day moving average): $116,198

• MA20 (20-day moving average): $118,015

• MA50 (50-day moving average): $112,479

• MA100 (100-day moving average): $103,757

• Current price: $116,819

MA5, MA20, MA50, MA100 data image

From the arrangement of moving averages, the price is running above the MA50 and MA100, indicating that the medium- to long-term trend remains bullish; however, the MA5 has fallen below the MA20, suggesting there may be some adjustment pressure in the short term. If the price can regain and stabilize above the MA20, it will help to extend the upward trend.

3. Key Support and Resistance Levels

• Support Levels: The key short-term support levels are at $116,000 and $115,000, with the core support zone below at $113,000~$115,000. If the price remains above this range, it will continue to consolidate the short-term bullish structure; if it falls below $113,000, attention should be paid to the support at $112,000.

• Resistance Levels: The primary short-term resistance is at $117,000; if this level is broken, the next target will be $118,000 (which is also near the MA20), and further breakthroughs may challenge the $120,000 level.

Comprehensive Analysis
Currently, Bitcoin's price is in a short-term oscillating consolidation phase, with the RSI indicating that the market is not overheated, and bulls still have some room to exert influence; the moving average system suggests a bullish medium- to long-term trend, but there is a possibility of a pullback towards the MA20 for confirmation in the short term. In terms of operations, it is recommended to focus on the support zone of $113,000--$115,000 and the breakout opportunities at $117,000--$118,000; if a breakout occurs with volume, a bullish view towards the $120,000 area can be taken. If the core support zone is breached, adjustment risks should be guarded against.

Market Sentiment Analysis

Key Sentiment Indicator (Fear & Greed Index)

As of August 8, the Fear & Greed Index is reported at 59, positioned at the upper end of the "neutral" range, nearing the threshold of mild greed, indicating that market sentiment is shifting from cautious observation to relatively optimistic adjustments.

Looking back at this week (August 2 - August 7), the daily values of the Fear & Greed Index were: 51 (neutral), 48 (neutral to fear), 52 (neutral), 55 (neutral to optimistic), 52 (neutral), 54 (neutral). This week, the index remained in the 48-55 range, with limited fluctuations, overall in a moderately stable state. In the short term, there has not been extreme emotional volatility in the market, which to some extent reflects that investors are waiting for further price signals or macro data stimuli, and sentiment has not shown a clear directional tilt.

Structurally, the low point of the index this week occurred on August 3 (48), possibly related to the decrease in market trading volume and the release of some short-seller sentiment; while the high point occurred on August 5 (55), corresponding to the short-term rebound of Bitcoin prices stabilizing at key support levels. Although the index surged to 59 on August 8, it has not yet entered the "greed" zone, indicating that the current market's capital entry momentum is more of a gentle probe rather than a large-scale emotion-driven chase.

Overall, the current trend of the Fear & Greed Index exhibits characteristics of moderate sentiment recovery but insufficient momentum, with a relatively balanced short-term long-short game, and future trends may rely more on macroeconomic data, regulatory news, and breakthroughs at key Bitcoin price levels.

Fear & Greed Index data image

Macro Economic Background

1. CFTC plans to allow futures exchanges to conduct spot crypto asset trading

On August 4, the U.S. Commodity Futures Trading Commission (CFTC) announced that it would launch the "Listing of Spot Crypto Asset Contracts" initiative, allowing spot contract trading of Bitcoin, Ethereum, and other assets on registered futures exchanges (Designated Contract Markets, DCM), and inviting the public to submit comments by August 18.
This initiative is part of the Trump administration's "Crypto Sprint" plan, aimed at accelerating the implementation of a regulatory framework for digital assets and collaborating with the SEC to promote "Project Crypto" related cooperation.

The market expects this move to enhance the compliance and liquidity of the crypto market, benefiting industry development.

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2. Trump allows crypto assets to be included in 401(k) retirement accounts

On August 7, Trump signed an executive order authorizing the inclusion of cryptocurrencies, private equity, real estate, and other alternative assets in 401(k) and other retirement accounts. The Department of Labor and the SEC will re-examine relevant regulatory rules to expand the range of investment options.
The market reacted positively, pushing Bitcoin and other crypto assets to rebound: on that day, Bitcoin rose by about 2-4.5%, with prices breaking through $116,000.

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3. Dollar Weakens and Rate Cut Expectations Increase

Due to recent weak labor market data and the impact of the Trump administration's personnel arrangements on the Federal Reserve, the market widely expects the Federal Reserve to cut rates in September. The dollar index has come under pressure and fallen, supporting risk assets such as gold and cryptocurrencies.

This macro environment has driven Bitcoin and other assets to rise.

4. Trump nominates pro-crypto candidate to the Federal Reserve Board

On August 7, Trump nominated economist Stephen Miran, who supports crypto assets, for a seat on the Federal Reserve Board, reinforcing market expectations for a more accommodative monetary policy from the Federal Reserve and support for digital assets.

This news helped Bitcoin prices rise by about 2% in the short term, briefly breaking through $117,500.

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3. Hash Rate Changes

This week, the Bitcoin network hash rate experienced a volatile trend of "climbing - retreating - climbing again." From August 2 to 3, the hash rate remained stable in the range of 900 EH/s to 1 ZH/s, indicating that the network's computing power is at a strong support level. On August 4, the network's computing power saw a significant increase, reaching a weekly high of 1.2048 ZH/s, reflecting miners' active increase in computing power deployment. Subsequently, on August 5, the hash rate quickly retreated to around 900 EH/s. From August 6 to 8, the hash rate gradually recovered from this week's low of 832.81 EH/s, rising to 1.0901 ZH/s by noon on August 7, indicating strong recovery momentum. On August 8, the hash rate slightly retreated to 996.67 EH/s, with fluctuations converging, and the network's computing power overall remained high.

Weekly Bitcoin network hash rate data

From the data of the past six months, the Bitcoin network hash rate shows a steady upward trend, reflecting miners' confidence in the network's future prospects. Since late June 2025, the hash rate has experienced increased volatility, possibly closely related to fluctuations in global energy prices, updates to mining equipment, and geopolitical events. Since early 2025, the hash rate has continuously climbed from the 700-900 EH/s range, gradually stabilizing at the 900-1000 EH/s level, with multiple breakthroughs of the key psychological level of 1 ZH/s, demonstrating a significant improvement in network security and miner participation.

Six-month Bitcoin network hash rate data

From an annual perspective, the growth of the hash rate is particularly evident. In August 2024, the Bitcoin network hash rate was approximately in the range of 550 EH/s to 700 EH/s, while it is currently stabilizing at the level of 900 EH/s to 1.1 ZH/s. This reflects significant enhancements in the technological upgrades of the Bitcoin mining industry and the expansion efforts of miners, further strengthening the Bitcoin network's security capabilities. The continuous growth of the hash rate typically indicates an improvement in the network's resistance to potential attacks, as well as a sign of miners' optimistic expectations regarding mining economic benefits.

Annual Bitcoin network hash rate data

4. Mining Revenue

Weekly Overview of Bitcoin Mining Revenue

According to YCharts data, in the past week (August 2 to August 7, 2025), the average daily total revenue of Bitcoin miners (including block rewards and transaction fees) fluctuated between $52.22 million and $63.22 million, with specific data as follows:

• August 2: $52.63 million

• August 3: $58.46 million

• August 4: $63.22 million

• August 5: $49.66 million

• August 6: $52.22 million

• August 7: $59.67 million

Overall, miner revenue fluctuated within a narrow range, reflecting the stable support of current Bitcoin prices and on-chain transaction activity for mining economic benefits.

Hashprice Analysis

As of August 8, 2025, Hashrate Index data shows that the Hashprice is $58.08 per PH/s per day, recovering from the same period last week. The multi-dimensional performance is as follows:

• Monthly Range: Positioned in the lower range of the past 30 days;

• Quarterly Range: At the median level within three months;

• Annual Range: Still at a mid-high level for the year, indicating that unit hash rate earnings remain relatively strong.

Hashprice data

Review of July Monthly Mining Revenue

According to The Block data, Bitcoin miners' total revenue in July 2025 was approximately $1.66 billion, a month-on-month increase of about 19.4% compared to May 2024 ($1.39 billion), setting a record for the highest monthly mining revenue since the halving in April 2024, mainly benefiting from:

• Bitcoin prices stabilizing at high levels;

• Active block transactions, increasing fee income;

• Fluctuations in network computing power providing some miners with short-term excess profit space.

Bitcoin miners' monthly revenue data

JPMorgan's Viewpoint

According to CoinDesk, JPMorgan (JPM) released a research report on August 1, stating that Bitcoin mining profits in July 2025 reached the highest level since the halving, reflecting the ongoing resilience of the current mining economy.

Key data includes:

• Unit hash rate earnings: Average daily block reward income per EH/s is $57,400, a 4% increase from June;

• Profit Comparison: Despite a noticeable rebound, unit earnings and gross profits are still 43% and 50% lower, respectively, compared to pre-halving levels;

• Network hash rate: Monthly average of 899 EH/s, a 4% increase from June;

• Mining difficulty: Increased by 9% at the end of July, up 48% compared to pre-halving;

• Mining company performance: Among the 13 U.S. listed mining companies tracked by JPM, 10 outperformed Bitcoin, with the best performer, Argo Blockchain (ARBK), rising by 66%, while the worst performer, Core Scientific (CORZ), fell by 21%.

Summary

Although Hashprice has shown short-term fluctuations recently, overall miner revenue remains high, with July's revenue setting a new high since the halving, reflecting the collaborative support of market prices, fees, and network hash rate for the profitability of mining operations. Future attention should focus on Bitcoin price trends, adjustments in mining difficulty, and the impact of extreme weather on computing power stability.

5. Energy Costs and Mining Efficiency

According to CloverPool data, as of August 8, 2025, the total Bitcoin network hash rate reached 966.44 EH/s, with a mining difficulty of 127.62T. The next difficulty adjustment is expected to occur on August 9, 2025, with an estimated increase of about 2.03%, bringing the difficulty to approximately 130.21T. This indicates that the Bitcoin network's computing power continues to remain high, with intense competition among miners, steadily enhancing network security and stability.

Bitcoin mining difficulty data

From the perspective of mining costs, according to MacroMicro's latest model calculations, as of August 6, 2025, the unit production cost of Bitcoin is approximately $91,781.52, while the spot price during the same period is $115,028.00, resulting in a mining cost-to-price ratio of 0.80, indicating that miners still have about 20% gross profit margin on average. This data shows that the current Bitcoin price not only covers miners' energy and hardware depreciation costs but also provides a certain profit margin.

At the same time, the on-chain indicator Puell Multiple remains in the range of 1.30-1.32. The Puell Multiple measures the ratio of the daily Bitcoin issuance value to its annual average issuance value, used to assess miners' profitability and the degree of market overheating. The current level indicates that miners' profitability is relatively healthy, not yet reaching the overheating zone of historical highs, but remaining in a moderately profitable range, supporting miners' willingness to continue mining.

Total mining cost per Bitcoin data

In summary, the current Bitcoin mining ecosystem maintains a good profitability status. Miners, facing continuous increases in hash rate and difficulty adjustments, rely on technological upgrades and energy structure optimization to maintain high mining efficiency. Overall, the security of the Bitcoin network continues to strengthen, while the balance of mining cost control and profit margins will become important influencing factors for future market dynamics.

6. Policy and Regulatory News

Indonesian Vice President's Office explores the possibility of using Bitcoin as national reserves

On August 5, it was reported by Bitcoin Magazine that the Indonesian Vice President's Office has invited members of the Bitcoin community to discuss the possibility of using Bitcoin as a national reserve asset.

White House report suggests Bitcoin miners should only pay taxes upon sale to avoid double taxation

On August 5, it was reported by The Block that the U.S. White House Digital Asset Working Group, in a 168-page report, suggested that the IRS clarify the tax point for Bitcoin mining income, or change it to taxation upon sale to avoid "mining income tax + capital gains tax" double taxation.

BitFuFu CEO Leo Lu stated that this move could significantly reduce miners' tax burdens and accelerate the mainstream adoption of Bitcoin. Similar tax deferral proposals have already been introduced in Congress, such as H.R.8149.

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Brazil to discuss establishing a Bitcoin strategic reserve

On August 5, it was reported by CoinDesk that Brazil will hold a public hearing on August 20 to discuss the establishment of a Bitcoin strategic reserve.

7. Mining News

Bitcoin miners have reduced holdings by over 3,000 BTC in the past two weeks

On August 3, it was reported by @ali_charts that Bitcoin miners have collectively reduced their holdings by over 3,000 BTC in the past two weeks. As of August 1, the amount held by Bitcoin miners decreased from 1,809,800 BTC on July 16 to 1,806,980 BTC.

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French far-right party National Rally plans to draft a bill to mine Bitcoin using excess power from nuclear plants

On August 4, it was reported by Le Monde that the far-right party National Rally in France is preparing to draft a bill to mine Bitcoin using excess power from nuclear plants. In 2016, the party's presidential candidate Marine Le Pen stated that she wanted to ban virtual currencies, including Bitcoin, arguing that they were products manipulated by the "elite" and "Wall Street lobbying forces."

Viewpoint: Trump's tariffs squeeze U.S. Bitcoin mining companies, miners will face slowed growth

On August 6, it was reported by The Block that Ethan Vera, COO of Luxor Technology, stated that U.S. Bitcoin miners are preparing for slowed growth following the White House's imposition of high reciprocal tariffs on Bitcoin mining machines from Southeast Asia. The new tariff rates took effect on August 7, imposing a 19% reciprocal tariff on ASIC miners from Indonesia, Malaysia, and Thailand, bringing the total import tax rate for these countries to 21.6%.

The tariffs have led to reduced demand from U.S. customers, with mining machines flowing to countries with more lenient import policies, such as Canada. Under the 21.6% tariff, the U.S. has become one of the least competitive regions for importing mining machines, and miners are considering expanding into Canada and other markets. Ethan Vera predicts that if the tariffs fully impact the industry supply chain, Russia will become a major beneficiary, reshaping the global mining hash rate landscape and slowing growth in the U.S.

UK oil and gas companies Union Jack Oil and Reabold Resources plan to use stranded natural gas to mine Bitcoin

On August 7, it was reported that UK oil and gas companies Union Jack Oil and Reabold Resources plan to use stranded natural gas from West Newton through 360 Energy for Bitcoin mining.

Union Jack Oil views this as an important avenue for future Bitcoin funding strategies, aiming to optimize asset value. Reabold Resources focuses on obtaining higher investment returns through Bitcoin mining rather than directly purchasing Bitcoin to enhance the economic benefits of its PEDL183 license project.

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Bitcoin mining company Greenidge sells Mississippi mining facility for $3.9 million

On August 7, it was reported by The Block that Nasdaq-listed mining company Greenidge Generation announced the sale of its Bitcoin mining facility in Mississippi for approximately $3.9 million to a U.S. peer, LM Funding America.

The sale includes the site, some contracts, and mining equipment, but does not include existing hosted mining machines and nearby warehouses. Greenidge decided to sell the asset due to financial pressure from debt expansion in 2021 and the latest tariff policies from Trump. The transaction is expected to be completed by September 16.

8. Bitcoin News

Summary of Bitcoin accumulation dynamics this week: countries, listed companies, and mining companies are all increasing their positions

1. DevvStream launches crypto asset allocation, purchases Bitcoin and Solana
   On August 1, Nasdaq-listed company DevvStream (DEVS) announced the launch of a cryptocurrency asset allocation strategy, allocating $10 million from a $300 million convertible bond for its first purchase of Bitcoin and Solana, officially entering the crypto asset field.

2. South Korea's Bitmax increases holdings by 56 BTC, total holdings surpass 500 BTC
   On August 2, South Korea's KOSDAQ-listed company Bitmax announced an increase of 56.0445 BTC, bringing its total holdings to 500.123 BTC, making it the company with the largest Bitcoin holdings among South Korean listed companies, and stated that it will continue to promote its Bitcoin reserve strategy.

3. El Salvador increases holdings by 7 BTC in a week, total rises to 6,258.18 BTC
   As of August 4, the government of El Salvador has increased its holdings by 7 BTC in a week, bringing its total holdings to 6,258.18 BTC, valued at approximately $718 million, continuing to implement its national Bitcoin reserve policy.

4. Thailand's RSXYZ company increases Bitcoin holdings to 50 BTC
   On August 4, Thailand's listed company RSXYZ announced that it purchased over 31 BTC in July, raising its total holdings to 50 BTC as part of its long-term digital asset allocation.

5. Japan's Metaplanet increases holdings by 463 BTC, total holdings reach 17,595 BTC
   On August 4, Japan's listed company Metaplanet announced an increase of 463 BTC, bringing its cumulative holdings to 17,595 BTC, ranking among the top in Bitcoin reserves among Asian companies.

6. London's The Smarter Web Company raises $10.75 million for BTC purchases
   On August 4, UK tech company The Smarter Web Company announced a capital increase of $10.75 million (approximately €8.1 million) to purchase Bitcoin, optimizing its asset structure.

7. Japan's Convano increases holdings to 165 BTC, plans to exceed 10,000 BTC
   On August 4, Japan's nail salon chain Convano announced that its current Bitcoin holdings are approximately 165 BTC, with plans to accumulate 21,000 BTC by 2027 and has initiated a fundraising of $13.54 million for further purchases.

8. Spain's Vanadi Coffee increases holdings by 7 BTC, total rises to 85 BTC
   On August 4, Spain's coffee chain brand Vanadi Coffee announced the addition of 7 BTC, raising its total holdings to 85 BTC, gradually implementing its digital asset reserve strategy.

9. U.S. stock Sequans increases holdings by 85 BTC, total surpasses 3,100 BTC
   On August 4, Nasdaq-listed company Sequans announced an increase of 85 BTC, bringing its total holdings to 3,157 BTC, continuing to solidify its leading position in Bitcoin asset allocation.

10. Sweden's Goobit Group launches BTC reserve strategy
    On August 4, Swedish cryptocurrency service provider Goobit Group (BTCX) announced the official launch of its Bitcoin reserve strategy, with the first round of targeted issuance being oversubscribed, marking a comprehensive embrace of crypto assets in its company asset allocation direction.

11. Strategy invests heavily in over 20,000 BTC, total investment exceeds $2.4 billion
    On August 4, Strategy spent approximately $2.46 billion to purchase 21,021 BTC from late July to early August, becoming one of the largest institutional buyers in the recent crypto market.

12. Canada’s Mogo sells stock for Bitcoin, increasing holdings to $2 million
    On August 4, Canadian digital finance platform Mogo announced the sale of its $13.8 million stake in WonderFi, using part of the proceeds to increase its Bitcoin investment, currently totaling about $2 million.

13. U.S. stock Unitronix Corp increases holdings by 5.5 BTC, laying out Bitcoin mining cooperation
    On August 5, U.S. listed company Unitronix Corp announced an increase of 5.5 BTC for over $600,000, revealing that it has established a strategic Bitcoin mining cooperation plan, aiming to use Bitcoin as a long-term hedge asset.

14. France's Capital B continues to increase Bitcoin investments, total holdings rise to 2,075 BTC
    Previously, on August 4, European listed company Capital B announced a fundraising of $13.3 million for increasing Bitcoin holdings. Subsequently, on August 5, the company added 62 BTC, raising its total holdings to 2,075 BTC, further consolidating its Bitcoin investment layout.

15. Robin Energy invests $3 million to purchase BTC
    On August 5, international energy transport company Robin Energy announced it has completed a $3 million Bitcoin purchase through Anchorage Digital Bank, marking its first round of cryptocurrency investment approved by the board.

16. Exodus Movement increases holdings by 29 BTC in July, total holdings reach 2,087 BTC
    On August 5, it was disclosed by NLNico that cryptocurrency wallet provider Exodus Movement announced an increase of 29 BTC in July. As of July 31, the company's total BTC holdings reached 2,087 BTC.

17. Biopharmaceutical company Silo Pharma launches cryptocurrency fund management strategy
    On August 5, biopharmaceutical company Silo Pharma (NASDAQ: SILO) announced the launch of a cryptocurrency fund management strategy and appointed cryptocurrency infrastructure expert Corwin Yu as the first member of its cryptocurrency advisory committee. This strategy will focus on mainstream digital assets such as Bitcoin, Ethereum, and SOL.

18. Michigan pension fund increases holdings in Ark Bitcoin ETF in Q2, total value reaches approximately $10.7 million
    On August 5, it was reported that the Michigan pension fund held 300,000 shares of the Ark Bitcoin ETF (ARKB) as of June 30, with a holding value of approximately $10.7 million, an increase from the 100,000 shares reported on March 31.

19. UK-listed company Vaultz Capital increases holdings by 47.85 BTC
    On August 6, UK-listed company Vaultz Capital purchased 47.85 BTC, bringing its total Bitcoin holdings to 117.85 BTC.

20. Sweden's H100 Group continues to increase Bitcoin investments
    Previously, on August 4, Sweden's listed company H100 Group announced it successfully raised 21.2 million Swedish Krona (approximately $2.2 million) to expand its Bitcoin holdings, and subsequently on August 6, H100 Group purchased an additional 60.6 BTC, raising its total holdings to 732.2 BTC.

21. Satsuma completes $218 million financing, part in BTC
    UK-listed company Satsuma Technology raised $217.6 million, exceeding its target, with investors including ParaFi, Pantera, DCG, Kraken, etc. Part of the funds were subscribed in the form of 1,097 BTC, and the company currently holds approximately 1,125.85 BTC.

22. ZOOZ Power completes $5 million private placement, plans to build Bitcoin reserves
    Listed company ZOOZ Power (NASDAQ/Tel Aviv: ZOOZ) completed its first round of $5 million private placement, intending to use 95% of the funds to establish Bitcoin reserves, becoming the first company to adopt BTC reserves simultaneously on Nasdaq and Tel Aviv.

23. Parataxis plans to merge with SilverBox to create a Bitcoin treasury company
    Parataxis Holdings will merge with SPAC company SilverBox Corp IV, planning to raise $640 million to establish a BTC treasury company, expected to be listed on the NYSE under the ticker PRTX. After the merger, it will immediately use $31 million to purchase Bitcoin.

24. Trivest Advisors holds over $90 million in IBIT shares
    Hong Kong asset management institution Trivest Advisors disclosed that it holds over $90 million in BlackRock's Bitcoin spot ETF (IBIT), indicating that Asian institutions are continuously laying out BTC assets.

25. Derin Holdings plans to raise HKD 653 million to develop blockchain business
    Hong Kong-listed company Derin Holdings (01709.HK) plans to raise approximately HKD 653 million through placement and subscription, with funds allocated to RWA tokenization (30%), Bitcoin mining and reserves (15%), and Hong Kong licensed virtual asset business (7%) among various blockchain and digital asset projects.

26. ANAP increases holdings by 82.33 BTC, total holdings reach 913.45 BTC
    Japanese fashion brand ANAP Holdings increased its holdings by 82.33 BTC, currently holding a total of 913.45 BTC, continuously increasing its BTC asset allocation.

27. ECR Minerals adopts Bitcoin treasury strategy
    UK mining company ECR Minerals (LON:ECR) announced that it will hold digital asset reserves through its subsidiary and allocate no more than 50% of its free cash flow and surplus cash from gold production for long-term purchases of Bitcoin, with some funds potentially allocated to yield-generating digital assets like Ethereum.

28. DL Holdings plans to raise $83.2 million to enhance blockchain
    Hong Kong-listed financial group DL Holdings raised approximately $83.2 million through a rights issue, focusing on RWA tokenization (30%), Bitcoin mining (15%), and digital asset license applications (7%) among blockchain and cryptocurrency businesses.

VanEck CEO: Bitcoin is digital gold

On August 2, VanEck's CEO stated in a Bloomberg TV live broadcast: "Bitcoin is digital gold." The company currently manages assets totaling $133 billion.

Michael Saylor: Bitcoin is a trading asset in the short term, a treasury asset in the long term

On August 3, Strategy (formerly MicroStrategy) Executive Chairman Michael Saylor stated on platform X that in the short term, Bitcoin is a trading asset. However, in the long term, it will become a treasury asset. Bitcoin is a network bumblebee serving the goddess of wisdom, feeding on the fire of truth, growing exponentially behind the wall of crypto energy, becoming smarter, faster, and stronger.

Viewpoint: Bitcoin treasury companies are a "reasonable" response to the U.S. government's $37 trillion debt devaluation

On August 4, macro expert Luke Gromen stated that the rise of Bitcoin treasury companies is a reasonable response to the U.S. government's ongoing devaluation of the dollar. Gromen pointed out in a recent YouTube video that investors are reacting to a massive financial bubble that has shifted from stocks, banks, and real estate markets to the treasury market.

He believes that the only way for the U.S. government to maintain the bubble is through inflation to devalue its debt, rather than facing default or severe economic recession to restore fiscal health. In this context, many companies are creating shareholder value by leveraging Bitcoin's strict supply cap, which is reasonable.

Author of "Rich Dad Poor Dad": If Bitcoin falls below $90,000 due to the "August curse," I will double my investment

On August 4, Robert Kiyosaki, the author of "Rich Dad Poor Dad," stated that if the "August effect" causes Bitcoin prices to fall below $90,000, he will choose to double his current holdings.

He pointed out that the real challenge facing Bitcoin does not come from itself but from the U.S.'s trillion-dollar debt scale and the Federal Reserve's policy management.

CZ: The global crypto race is coming, and countries that delay adoption will be forced to buy at higher prices

On August 5, CZ stated in an interview that he expects the global race for Bitcoin and cryptocurrencies to arrive soon, and countries that delay adoption will be forced to buy at higher prices.

Michael Saylor: The most important investment advice I received was "buy Bitcoin"

On August 6, Strategy founder Michael Saylor responded to a community question about the most important investment advice he received, stating, "Buy Bitcoin."

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Bitwise CIO: Institutions and governments are discussing including Bitcoin in reserves, demand may see exponential growth in early stages

On August 6, it was reported by Cointelegraph that Bitwise CIO Matt Hougan stated that institutions and governments are discussing including Bitcoin in reserves, marking the early stages of exponential demand.

U.S. Vice President: I am a Bitcoin holder

On August 7, U.S. Vice President JD Vance stated, "I am a Bitcoin holder… it is a means of transaction and value storage in the modern digital age."

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Trump: The U.S. government has long violated the fundamental principle that Bitcoin holders should never sell their Bitcoin

On August 7, it was reported by BTC_Archive that Trump stated, "For a long time, our government has violated the fundamental principle that every Bitcoin holder should remember: never sell your Bitcoin."