Bitcoin falls, even as Strategy buys $835.6M for its holdings

Bitcoin has experienced significant declines, dropping 10.32% over the past week amid ongoing market struggles following the longest government shutdown in US history. In contrast to gold, which has increased by 1.79%, and the S&P 500 and Nasdaq 100, which experienced marginal declines, Bitcoin and altcoins have fared poorly. Notably, the Solana ecosystem and crypto miners are among the hardest hit, with MPLX down 42.36% and JTO down 26.81%. Michael Saylor, Executive Chairman of Strategy, announced the purchase of 8,178 BTC for approximately $835.6 million at about $102,171 per BTC. Despite this investment, MSTR's net asset value (NAV) has fallen below 1, complicating further acquisitions. The Solana chain has held revenues better despite declining memecoin activity, remaining ahead of Ethereum and behind only Hyperliquid and Tron in terms of revenue market share. In a broader context, retail enthusiasm in South Korea continues to drive significant listing-day price increases for new tokens, illustrating the region's vibrancy in the digital asset space.

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