Bitcoin Hovers Near $60K as Saylor Resumes Buying

Bitcoin hovered around the key $60,000 mark following a decline of more than 12% during the week. Standard Chartered's Geoffrey Kendrick, the lender's global head of digital assets research, maintained his call for Bitcoin to reach $100,000 by year-end, stating most of the selling may be over. The cryptocurrency had fallen below $60,000 on Friday, June 5, for the first time since October 2024, putting the asset down roughly 50% from its peak, though it rebounded to over $63,000 as of June 8. Despite the volatility, both institutions and retail investors are buying and holding crypto, according to analysis from Coinbase ($COIN).

Strategy ($MSTR), formerly MicroStrategy and the largest corporate holder of Bitcoin, announced it had sold some of its holdings for the first time in four years. The company subsequently purchased 1,550 BTC shortly after recording its first Bitcoin sale since 2022, demonstrating renewed commitment to its Bitcoin treasury approach. Strategy's $54 billion Bitcoin stash and leveraged treasury model continue to draw attention, particularly regarding the company's high-yield preferred stock obligations. The company's STRC preferred stock dipped toward $90 with Bitcoin, then recovered as shareholders approved semi-monthly dividends to steady the price. Robinhood ($HOOD) saw its early backer Ribbit Capital make a massive bet on the retail trading boom, while Cantor raised its price target on prediction that the company's prediction-markets venture has not been priced in by Wall Street.

Morpho Association raised $175 million in one of DeFi's largest funding rounds, with backing from Andreessen Horowitz (a16z), Paradigm, and Ribbit Capital. The investment gives the onchain credit protocol a significant valuation boost and represents major institutional interest in decentralized finance infrastructure. The funding round underscores continued venture capital appetite for DeFi protocols despite broader crypto market volatility.

Greece is preparing legislation to impose a 15% capital gains tax on cryptocurrency, according to two government officials who told Reuters. A senior government official said the Finance Ministry is readying a law expected to be submitted to the country's parliament in the coming months. In Japan, the three largest banks—Mitsubishi Financial Group, Sumitomo Mitsui Financial Group, and Mizuho Financial Group—announced they will jointly issue stablecoins during the current fiscal year ending in March 2027, marking a major move toward digital payments in a country where cash and credit cards remain popular. The banks said they will set up a council to examine operational frameworks and prepare for issuance. In the UK, Reform UK raised around $12.4 million in the first three months of the year, more than any political rival for the third consecutive quarter, with big donations from billionaire crypto investors including Thailand-based Christopher Harborne, while the governing Labour party took in just over $5.3 million.

Market participants are watching whether Bitcoin can sustain its position above $60,000 following the recent volatility and Strategy's mixed signals of selling and then resuming accumulation. The implementation timeline for Greece's proposed crypto capital gains tax and the operational launch of Japanese bank stablecoins will be key regulatory milestones to monitor. Robinhood's prediction market venture with Susquehanna International Group, announced in November 2025, is quietly taking shape as the company builds out CFTC-licensed infrastructure, though the full product launch timeline remains unclear.