The world’s largest cryptocurrency surged past $106K over the weekend, ignoring escalating political tension in the U.S., including a fresh domestic deployment of troops. BTC closed Saturday up 0.80% at $106,200 — a move that reinforces the narrative that Bitcoin is becoming increasingly untethered from traditional risk sentiment.

Markets to Trump: Meh.

In a scene that felt like déjà vu from 2020, U.S. President Donald Trump authorized the deployment of 2,000 National Guard troops to Los Angeles following immigration-related protests that turned ugly. Over 100 arrests have been reported, and federal agents clashed with demonstrators across multiple flashpoints. As of Sunday morning, the 79th Infantry Brigade was on the ground, with the Pentagon suggesting Marines from Camp Pendleton could join if things escalate.

But markets didn’t blink.

Bitcoin bulls shrugged off the unrest, treating it like local noise — not a macro shock. In fact, the charts say more than the headlines. BTC carved out an ascending structure with consistent higher lows, a classic bullish formation suggesting that a breakout toward $107K is within reach. Traders absorbed resistance at $106,100 and are now eyeing the next leg up.

Bitcoin has recovered well after the Elon Vs Trump spat, Source: BNC Bitcoin Liquid Index

Technical analyst Rekt Capital posted on X that, “Bitcoin has broken its two-week Downtrend (light blue). Now, Bitcoin is trying to challenge the $106600 resistance (black). Some light rejection here would be normal, but the goal is for Bitcoin to Daily Close above black for continued bullish bias.

Bitcoin has broken its two-week Downtrend, Source: X

Narrative Shift: From Speculation to Stability

What’s fascinating here isn’t just the technical picture — it’s the vibe shift. Bitcoin isn’t acting like a speculative risk asset anymore. It’s behaving like a geopolitical hedge. Institutional money is clearly back in, and this kind of price resilience during domestic political flare-ups might just be the best real-time ad for the “digital gold” thesis since the banking crisis of 2023.

And this is all happening in the shadow of another market soap opera: the Trump-Elon breakup and rising regulatory heat. Yet crypto investors seem laser-focused on BTC’s supply dynamics, halving tailwinds, and its maturing role in the global financial stack.

Saylor Teases More BTC as Strategy Goes Maximalist Mode with $1B War Chest

Michael Saylor is back on his Bitcoin bullhorn—and when he says, “Send more orange,” markets know what that means: more Bitcoin is about to land on Strategy’s already-massive balance sheet.

On June 8, the Strategy co-founder and executive chairman posted that cryptic orange-themed message to X, typically a prelude to one of the company’s headline-grabbing Bitcoin acquisitions. If history repeats—and it usually does with Saylor—it would mark nine straight weeks of continuous BTC purchases.

The signal came just days after Strategy scooped up another 705 BTC between May 26 and June 1, dropping $75 million at an average price of $106,495 per coin. That bumped Strategy’s total Bitcoin stack to a staggering 580,955 BTC, currently valued at over $61.4 billion.

Let that sink in: One publicly traded company now owns more Bitcoin than most countries. According to SaylorTracker, Strategy’s BTC position is up nearly 50%, with around $20.6 billion in unrealized profits. 

A Billion-Dollar Buy Button

Fueling this latest buying spree is Strategy’s newly announced $1 billion stock offering, quadrupling its initial $250 million plan. The offering consists of 11.76 million shares of Series A Perpetual Preferred Stock, priced at $85 each, delivering 10% non-cumulative dividends—a slick twist aimed at income-hungry institutional capital.

Unlike previous convertible note raises, this preferred stock format is more about yield and predictability than moonshots. It’s a strategic pivot to lure conservative money while still going full send on BTC.

After underwriting costs, Strategy expects to net roughly $979 million, most of which is earmarked for—you guessed it—more Bitcoin. The rest goes toward general corporate expenses, but who are we kidding? This is Saylor. The man sees corporate expenses as rounding errors next to the Bitcoin ledger.

The Largest Whale in the Ocean

Strategy isn’t just the biggest corporate holder of Bitcoin—it’s the biggest known holder, period. The firm’s stash dwarfs even the combined reserves held by the governments of the U.S. and China. For comparison, the second-largest corporate holder, Mara Holdings, has less than a twelfth of Strategy’s BTC.

At this point, Strategy is less a software company and more a proxy Bitcoin ETF with a ticker. For investors, it’s a pure-play Bitcoin exposure machine—wrapped in corporate paper, taxed like a business, but beating crypto-native funds at their own game.

With BTC flirting with $107K and macro chaos unfolding in the background, Strategy is doubling down—again. Saylor’s latest move is as much a flex as it is a forecast. He’s betting that Bitcoin isn’t just going up—it’s going institutional, and he’s selling premium yield along the way to fund the revolution. If you’re a retail investor asking yourself if now is the right time to buy Bitcoin, Michael Saylor is giving us the signal that a fresh crypto bullrun is about to start.

 

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Filed under: Bitcoin - @ June 8, 2025 9:01 pm