Big moves in crypto today: Strategy buys 15,355 BTC for $1.42B, boosting holdings to 535,555 BTC valued at $50B+; Stacks Asia partners with ADGM for Bitcoin adoption in the Middle East; $330M Bitcoin theft sparks 50% Monero price surge to $289.
The cryptocurrency market has witnessed significant developments, with major Bitcoin acquisitions and adoption alliances making headlines alongside a massive Bitcoin robbery that triggered Monero price volatility. These events highlight the ongoing trends and challenges in the digital asset sector, offering insights into the evolving crypto market.
Strategy expanded its Bitcoin holdings last week, acquiring 15,355 BTC for approximately $1.42 billion. The company made the purchases between April 21 and April 27, at an average price of $92,737 per Bitcoin, according to its Form 8-K filing with the United States Securities and Exchange Commission.
This latest addition increased Strategy’s total Bitcoin holdings by about 3%, bringing the company's aggregate Bitcoin stash to 535,555 BTC, valued at over $50 billion. The acquisition marks the company's largest purchase since March, when it bought 22,048 BTC for $1.92 billion.
Michael Saylor, Strategy’s co-founder, announced the development on X, highlighting that the firm now holds 553,555 BTC acquired at an average cost of $68,459 per Bitcoin. He noted that Strategy’s Bitcoin yield year-to-date has reached 13.7%, with expectations to push that figure to 15% by 2025.
Stacks Asia DLT Foundation announced a significant partnership with the Abu Dhabi Global Market (ADGM), aiming to foster Bitcoin adoption in the Middle East and Asia. This collaboration seeks to advance the region's Bitcoin economy through educational initiatives and support for developers.
According to Stacks Asia, the partnership will focus on easing institutional access to Bitcoin and establishing new standards for regulatory clarity and technological development. Kyle Ellicott, executive director of Stacks Asia, emphasized that the initiative will drive the creation of regional developer communities and educational programs starting in May.
The foundation’s broader vision includes shaping global conversations on Bitcoin regulation by launching the Bitcoin Capital Activation Framework and the Bitcoin Policy Bridge, connecting regulators across the Middle East and Asia. This move aligns with ADGM’s growing status as a global financial hub for digital assets.
On April 28, an unusual Bitcoin transaction worth 3,520 BTC, or approximately $330.7 million, was discovered. ZachXBT, an on-chain investigator, identified the transaction believed to have originated from a stolen wallet being transferred to an unverified destination.
The stolen Bitcoin underwent wash operations through six distinct cryptocurrency platforms, leading to its conversion into Monero (XMR). A large-scale conversion of Bitcoin into Monero caused prices to surge by about 50% during one trading day, until they stabilized near $289.
ZachXBT confirmed that the Lazarus Group from North Korea was not responsible for the attack, which suggests that independent hackers may be the culprits. Chainalysis stated that, despite widespread concerns about privacy coins, the majority of illicit activities revolve around mainstream cryptocurrencies, including Bitcoin and Ethereum.