Bitcoin Slips Below $60K as Strategy Unveils Bitcoin Sales Plan

Bitcoin was trading below the key $60,000 level, struggling to recover from its recent sharp selloff. According to Stephen Coltman at 21Shares, the market is digesting the prospect of the Federal Reserve raising interest rates, which is lifting the dollar and weighing on bitcoin. The pressure on digital assets comes as macro headwinds intensify amid shifting monetary policy expectations.

Strategy ($MSTR) shares climbed 12% after the company unveiled a new capital management framework authorizing the potential sale of up to $1.25 billion in Bitcoin under certain conditions, while reaffirming its long-term commitment to the digital asset. The crypto-hoarding group stated it might sell bitcoin to raise cash to help cover dividend payments on its preferred stock and interest on outstanding debt, as well as to fund its share-repurchase program and cash reserve. $MSTR also announced a new $2 billion stock buyback program as part of the corporate pivot. Market research platform Bull Theory interpreted the rally in both MSTR common stock and Perpetual Stretch Preferred Stock (STRC) as evidence that the company is preparing to execute buybacks on both securities. A minimum reserve policy of 12 months' coverage has been set, with any reductions requiring Board authorization. Former Trump advisor Anthony Scaramucci dismissed predictions that Strategy's Bitcoin-heavy balance sheet was headed toward liquidation, standing firmly behind Michael Saylor.

Coinbase Global ($COIN) CEO Brian Armstrong stated that tokenized stocks could fundamentally reshape global investing, pointing to approximately 4 billion people worldwide without brokerage access as a key opportunity. The exchange continues to position itself as an 'everything app' for financial services, aiming for global leadership in the sector. Bernstein analysts suggested that prediction markets Kalshi and Polymarket could become takeover targets amid industry consolidation.

PayPal ($PYPL) expanded its PYUSD stablecoin into 70 markets and launched a new Payment Services & Crypto business line aimed at reshaping faster, lower-cost merchant payments. The moves come as cross-border transfers continue rising, with increasing demand for efficiency in international payments. Circle Internet Group (CRCL) appears undervalued according to analysts, citing record RLDC margins, fast-growing CPN volume, and Arc protocol upside. The stablecoin issuer's three revenue layers are drawing attention as the sector matures.

Robinhood ($HOOD) appointed Dara Bazzano as its first Chief Accounting Officer, with Bazzano assuming Principal Accounting Officer responsibilities while continuing to report to CFO Shiv Verma. The ARK Innovation ETF (ARKK) has gained approximately 2% year to date through late June, sitting at roughly $78 per share, masking divergent performance within the portfolio where AMD surged 144% while Coinbase declined 34% and Tesla holds a 10% weight. Elon Musk's X Money platform went live with rudimentary functions like deposits and peer-to-peer transfers, laying groundwork for a potential move into agentic commerce and broader financial services in a crowded fintech market.