MicroStrategy to HODL $47B of Bitcoin, hits pause on new purchases

As we move further from the weekend’s crypto bloodbath, we are getting a better sense of the scale of the event; the Bybit CEO said liquidations weren’t around $2 billion, but more like $10 billion! Nevertheless, yesterday saw a sizeable rebound across Bitcoin and altcoins, so there’s much to unpack. MicroStrategy finally put a halt on selling its stock for Bitcoin after 12 consecutive weeks of purchases, and Ethereum rallied as Eric Trump claimed it was a great time to buy ETH. Still, the Trump family crypto platform, World Liberty Financial, was reportedly trying to sell more of its WLFI token, which was swiftly denied.

Further reading:

• Crypto market liquidations likely reached $10B — Bybit CEO
• Crypto markets rebound as Trump puts Canada, Mexico tariffs on hold
• US senator hints Trump’s latest EO could mean the US buying Bitcoin
• MicroStrategy halted Bitcoin purchases, says it will hodl $30B BTC
• Ethereum tops $2.9K as Eric Trump says ‘it’s a great time to add ETH’
• Trump-backed World Liberty Financial denies token sales

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