Plus: Why Strategy's buys don’t move Bitcoin's price

GM. Bits were bitten, coins were crushed, and we juiced it all into today’s gossip shot.

Here's what you're gonna sip:

🍍 Jerome Powell's Jackson Hole speech.

🤔 Why does Strategy not move Bitcoin?

🍋 Comparing coins, penalties on Kyrgyz crypto services + more

🍍 Market flavor today

Crypto Market Cap: $3.82T -0.76% (24H)
Name		Price	24H	7D
	Bitcoin BTC	$114,468.80	1.84%	-2.32%
	Ethereum ETH	$4,571.44	7.73%	2.11%
	XRP XRP	$2.98	3.85%	-2.52%
	BNB BNB	$860.34	2.16%	4.05%
	Solana SOL	$189.52	3.19%	1.10%

Traders were locked in today because Jerome Powell gave his Jackson Hole speech - the one markets treat as a signal for what the Fed’s planning next.

"Uhh... ok? Still, what's all the fuss about?" 🤨

Glad you asked. Just look at what this speech did to the charts:

I know. Nuts. And it could’ve just as easily tanked everything instead.

But our boy J Pow came through with a hint that a rate cut is likely coming soon.

(And rate cuts = cheaper borrowing = usually bullish for crypto.)

The reason behind this is the job market.

The Fed sees signs that if layoffs spread, unemployment could rise. And when more people are out of work, overall spending falls, which can push the economy into recession.

To avoid that, Powell suggested the Fed is ready to loosen policy.

So yeah, the Fed’s worried about unemployment. Crypto’s worried about how many 🚀 emojis the group chat can handle.

Different moods.

🥝 Memecoin harvest

You’ll find more fundamentals in a cursed subreddit than in these projects 😜

Data as of 08:20 AM EST.

Check out these memecoins and plenty more here.

🤔 How come Strategy doesn't move Bitcoin?

Mondays usually suck. The weekend’s gone, you have to hear that agitating, grating alarm clock, and Friday feels like a lifetime away.

But if you’re following Strategy, Mondays actually come with a little treat: it’s the day they reveal how much Bitcoin they bought that week. They’ve been doing this almost every Monday since November 2024.

This Monday was no exception - they announced a buy of 430 BTC for ~$51.4M, which pushed their total holdings to 629,376 BTC.

If you’re new to crypto, that might sound like a market-shaking move. But it isn't.

And Strategy's treasurer, Shirish Jajodia, recently explained why.

1️⃣ They don’t buy like regular people do

Most people who buy Bitcoin go on an exchange - like Binance, Kraken, etc.

When you place a big buy order there, it hits the public order book, and if it’s large enough, it can cause the price to increase.

But Strategy avoids that by using over-the-counter (OTC) desks. These desks connect large buyers with large sellers off the exchange.

Because the trade is private, and no large market order hits the exchanges, there’s no sudden demand increase, and the visible price of Bitcoin stays the same.

2️⃣ They break up each buy

Strategy doesn’t submit one single huge buy order. Instead, they split the total amount into much smaller sub-orders and spread them out over time.

This way, the orders blend in with normal market activity.

3️⃣ They match their buying to market conditions

Strategy also adjusts how quickly or slowly they buy depending on what’s happening in the market:

👉 If trading volumes are high and there's a lot of activity, they can buy more without being noticed.

👉 If things are quiet, they slow down so their activity doesn’t stand out.

They’ve described it as trying to be a small part of the overall market liquidity at any given time.

4️⃣ They're always buying

Even though Strategy only announces their purchases once a week, they’re actually buying nearly constantly.

They’re in the market day after day, hour after hour, even second by second.

So by the time they announce a big number like 430 BTC, that amount has been bought in tiny pieces over the course of the whole week.

5️⃣ Lastly, Bitcoin's daily trading volume is much larger

For example, today, Bitcoin’s 24-hour trading volume is ~$10B.

A ~$50M purchase represents only about 0.5% of that - which is not nearly enough to move the price on its own.

So even if that was bought on one exchange in a single order, it would barely affect the overall market because liquidity is spread across many platforms and pairs.

So, to sum it up:

• Yes, Strategy buys huge amounts of Bitcoin.

• No, it doesn't move the price.

• And no, that’s not weird - it’s exactly what they intended.

🍋 News drops you can't miss

🚀 Stop guessing which coin’s better. We launched a new tool that lets you compare cryptos - check it out!

🔍 TRM Labs launched something called the Beacon Network. It lets exchanges, payment companies, and regulators track and freeze stolen coins.

🇬🇧 The UK imposed penalties on Kyrgyz banks and crypto services after finding they helped Russia dodge Western sanctions. The action focuses on A7A5, a ruble-backed token that processed $9.3B in four months.

😬 Kroll is getting sued over a data breach that exposed information from FTX, BlockFi, and Genesis creditors. The lawsuit claims hackers used the stolen data to run continuous phishing campaigns.

💰 Kanye West’s YZY token launch paid off for a small group of traders. 13 wallets made over $1M each.

🍌 Juicy memes