One of the first public companies to test an Ethereum treasury strategy has rapidly accumulated more than $3 billion of the second-largest crypto asset by market cap.

BitMine says it has rapidly stockpiled the largest Ethereum treasury in the world, now holding 833,000 ETH worth more than $3.03 billion at time of publishing.

Fundstrat co-founder Tom Lee, who is now the Chairman of BitMine’s board of directors, says the firm is pushing to acquire 5% of the circulating supply of Ethereum, which would be about 6,035,480 ETH.

“BitMine moved with lightning speed in its pursuit of the ‘alchemy of 5%’ of ETH growing our ETH holdings to over 833,000 from zero 35 days ago.

We have separated ourselves among crypto treasury peers by both the velocity of raising crypto NAV per share and by the high liquidity of our stock.”

BitMine calls itself a Bitcoin and Ethereum network company focused on buying crypto for the long term, acquired by BTC mining proceeds and capital raises.

The firm’s mining operations are centered in Trinidad as well as Murray, Kentucky, Pecos, Texas and Silverton, Texas.

ETH is priced at $3,641 at time of publishing, up 4.02% in the last 24 hours.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Two ancient Bitcoin (BTC) addresses are active again after a period of dormancy that started when Satoshi Nakamoto, the eponymous creator of the crypto king, was still publicly involved in the development of the flagship digital asset.

According to the blockchain tracker Whale Alert, the two addresses that were previously active in April of 2010 have now transferred a total of slightly over $11.8 million in Bitcoin.

The relatively older address among the two initially received 50 Bitcoin on April 18th of 2010, when BTC was trading at $0.00547. With Bitcoin trading at $118,707 at the time of the recent transfer, the address is sitting on an increase of over 2.17 billion percent.

The relatively newer address received a similar amount of Bitcoin on April 26th of 2010. At the time, Bitcoin was trading at $0.003, translating to an increase of approximately 3.957 billion percent at the time of the transfer.

On the two early Bitcoin addresses, Whale Alert further says,

“According to our research the two 50 BTC dormant address transactions earlier today were mined at the end of the period during which Satoshi [Nakamoto] was active (until around block 54,316). However, it is very unlikely the blocks were mined by Satoshi.”

The last publicly verifiable digital sighting of Satoshi was in December of 2010, when he provided an update on his progress in enhancing Bitcoin’s security against denial-of-service (DoS) attacks.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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A billionaire who made his fortune at Tiger Global just poured more than $300 million into a high-growth stock that’s skyrocketed over the last year.

Karthik Sarma, who now spearheads SRS Investment Management, sold all of the hedge fund’s massive investment in Nvidia (NVDA) between Q1 of 2024 and Q1 of 2025.

Now, new 13F filings show Sarma has piled about $334 million, purchasing 4.74 million shares, into Tapestry (TPR).

The luxury goods company, known for its premium handbag and accessories brands like Coach and Kate Spade, has seen its stock surge over 100% in the past 12 months.

Tapestry specializes in designing and retailing high-end fashion accessories, leveraging its iconic brands to capture the growing demand for luxury lifestyle products.

The company’s strong cash flows and strategic share-repurchase program may have also caught Sarma’s eye, with SRS Investment Management now allocating about 4.5% of the hedge fund’s portfolio to the new investment.

That makes Tapestry the fourth-largest allocation at SRS, following Pdd Holdings Inc. at 6.45%, Planet Fitness Inc. at 6.09%, and Meta Platforms Inc. at 5.75%, highlighting a strategic focus on e-commerce, fitness, AI and tech, alongside luxury retail.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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An ancient Bitcoin whale that woke up for the first time in 14 years earlier this month is making headlines again with another multi-billion-dollar BTC transfer.

About 10 days ago, two Bitcoin addresses that each had 10,000 BTC were each emptied within minutes of each other on the 4th of July.

The two wallets had received their respective Bitcoin on April 3rd of 2011 when BTC was trading at $0.78 a piece.

Then, last week, Coinbase director Conor Grogan suggested that the whale wallets could potentially be linked to a hack after finding that one of the wallets appears to have made a test transaction on the Bitcoin Cash (BCH) network just hours before the big move happened, suggesting that whoever was responsible for the transfer was trying to go unnoticed.

Now, according to pseudonymous crypto analyst Satoshi Stacker, one of the two whales is at it again, moving almost $5 billion worth of BTC to new wallets.

“The 80,000 BTC whale has moved 40,000 BTC worth around $4.7 billion to new addresses.

Around $2 billion of that BTC has then been transferred to centralized exchanges, likely to be sold.

Are you buying this dip?”

While the wallets were dormant since April of 2011, they also received trace amounts of Bitcoin during the intervening period, possibly due to dusting attacks conducted to try to sniff out the entities behind the addresses. Dusting attacks are typically conducted by researchers, law enforcement officials or criminals.

The phenomenon of long-dormant addresses suddenly getting active spurs media interest due to their potential link to the pseudonymous creator of Bitcoin, Satoshi Nakamoto, who remains a mystery more than one and a half decades since the crypto king was introduced to the world.

Bitcoin is trading for $117,195 at time of writing, a 2.2% decrease on the day.

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Analysts at the financial giant Goldman Sachs upgraded their S&P 500 projections amid new predictions for rate cuts from the U.S. Federal Reserve.

Goldman Sachs Research economists say there’s more than a 50% chance of the Fed cutting rates at the Federal Open Market Committee (FOMC) meeting in September, three months earlier than their previous prediction.

Goldman economists predict 25-basis-point cuts in September, October, and December, and March and June of 2026.

The upgraded forecast is due to early evidence that indicates the impact of President Donald Trump’s tariffs has been somewhat less dramatic than initially expected. David Mericle, chief US economist in Goldman Sachs Research, also notes that it has become harder to find a job in the US, though he says the labor market remains healthy overall.

The CME FedWatch Tool estimates there’s a 62.7% chance the Fed will cut the rate by 25 basis points at the FOMC meeting in September. The FedWatch Tool generates probabilities using the 30-day Fed Funds futures prices.

Due to the upgraded forecast, Goldman Sachs strategists raised their 12-month forecast for the S&P 500 index from 6,500 to 6,900, Bloomberg reports. They also increased their year-end target from 6,100 to 6,600.

The S&P 500 is trading at 6,225.52 at time of writing. The leading index is up 0.5% in the past five days and 3.66% in the past month.

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Two Bitcoin (BTC) whales have come out of a long slumber and moved billions of dollars worth of the flagship crypto asset, according to on-chain data.

Blockchain tracking firm Lookonchain says the two Bitcoin addresses that each had 10,000 BTC were each emptied within minutes of each other on the 4th of July.

The two wallets had received their respective Bitcoin on April 3rd of 2011 when BTC was trading at $0.78 a piece. The value of the Bitcoin in the slightly older wallet had risen from $7,805 to $1,092,370,050.73 at the time of the transfer, a gain of 13,995,672%.

In the newer wallet, the value of the Bitcoin had jumped from $7,805 to $1,090,670,006.39, a 13,973,891% gain. The total value transferred from the ancient addresses adds up to $2,183,040,056.

Bitcoin is trading at $109,061 at time of writing.

While the wallets were dormant since April of 2011, they also received trace amounts of Bitcoin during the intervening period, possibly due to dusting attacks conducted to try to sniff out the entities behind the addresses. Dusting attacks are typically conducted by researchers, law enforcement officials or criminals.

The phenomenon of long-dormant addresses suddenly getting active spurs media interest due to their potential link to the pseudonymous creator of Bitcoin, Satoshi Nakamoto, who remains a mystery more than one and a half decades since the crypto king was introduced to the world.

The last known publicly verifiable online activity linked to Satoshi Nakamoto leads back to December of 2010 when the pseudonymous creator took to the BitcoinTalk forum to discuss a software update for Bitcoin meant to forestall denial-of-service (DoS) attacks.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The Federal Reserve just bought $43.6 billion in US treasuries in the span of a week, sparking concerns that a quiet quantitative easing operation is underway.

New filings show the Fed purchased $8.8 billion in 30-year bonds on May 8th via its System Open Market Account (SOMA) – a move that followed a $34.8 billion purchase earlier that same week.

The move has triggered allegations that “stealth QE” has arrived, with a MarketWatch Op-Ed from Charlie Garcia calling the move “monetary policy on tiptoes.”

The Fed denies the claims, and has long stated such purchases are routine reinvestments of maturing securities to adjust the money supply and influence interest rates to meet its targets.

The Fed’s buying spree follows a major Treasury sell-off from China.

New numbers from the Treasury Department show China sold $18.9 billion in US bonds in March, while most other countries increased their holdings.

China now holds $765.4 billion in US Treasuries and is in third place behind the UK and Japan, which hold $779 billion and $1.13 trillion, respectively.

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“Big Short” hedge fund manager Michael Burry, known for predicting the 2007 collapse of the housing market, just initiated a major portfolio shakeup.

New SEC filings from Burry’s Scion Asset Management show the firm has taken a substantial bearish stance against Nvidia (NVDA), opening a large position in put options against the chipmaker’s stock.

Scion has also reversed its previously bullish outlook on Chinese equities.

The fund acquired bearish put options on major Chinese companies, including Alibaba (BABA) and Baidu (BIDU).

And here’s the twist – Scion’s only remaining long position is in New York-based Estee Lauder (EL), a bet on the cosmetics giant’s potential recovery.

This solitary bullish stance underscores Burry’s cautious approach on the market, with the makeup industry often believed to be resilient to recession.

This is the second time in recent years that Burry has gutted Scion’s portfolio.

In 2023, Burry drastically reduced Scion’s holdings, only to later admit he was wrong while placing new, targeted bets.

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Financial services giant Goldman Sachs is reportedly predicting that the S&P 500 (SPX) will hit a new all-time high over the next 12 months amid improving market conditions.

In an investment note, analysts at Goldman raise their one-year target for the S&P 500 from 6,200 to a new record high of 6,500, reports Bloomberg.

According to a team led by chief US equity strategist David Kostin, the stock market index will rally about 11% from current levels after the White House announced an initial trade deal with China that massively reduces tariffs on both sides.

Says Treasury Secretary Scott Bessent,

“We have reached an agreement on a 90-day pause and substantially moved down the tariff levels — both sides, on the reciprocal tariffs, will move their tariffs down 115%.”

Goldman notes that the agreement between the two economic powerhouses has allayed recession risks and market uncertainty.

While Kostin’s team remains bullish on the stock market over the long term, Goldman strategists believe the recent S&P 500 rally may soon lose steam after hitting their three-month target of 5,900 on Monday. They remain cautious in the near term, warning that current conditions do not support a sustained market rebound.

“Already-optimistic market pricing of the economic growth outlook as well as uncertainty surrounding the magnitude of impending slowdown in economic and earnings growth will likely keep a ceiling on equity multiples during the next few months.”

As of Tuesday’s close, the S&P 500 is trading at 5,886.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Deep-pocketed traders triggered a price crash over the weekend after depositing a huge chunk of an altcoin’s supply to digital asset exchanges.

According to blockchain tracking firm Lookonchain, whales in the Bounce (AUCTION) market have been greatly influencing the altcoin’s price action for the past week, causing massive swings in both directions.

Bounce Finance is a decentralized auction platform enabling auctions for various assets, such as physical assets tokenized on the blockchain and non-fungible tokens (NFTs).

AUCTION tokens are used for governance, staking, and fees for participating in auctions or creating NFTs on the platform.

Lookonchain says that in the last several days, whales sent over 14% of the circulating supply of AUCTION to Binance, the largest crypto exchange in the world by volume, and OKX. Those deposits presumably led to coins being sold on the open market, which ultimately caused prices to plummet.

Says Lookonchain,

“AUCTION Whales deposited 1.08 million AUCTION ($48.6 million, 14.26% of the total supply) into Binance and OKX again, causing the price to plummet by 50%.

Pay attention to price changes.”

At time of writing, AUCTION has not recovered, currently trading at $20.93 with a market cap of $137 million. AUCTION is ranked as the 363rd-largest crypto asset by market cap.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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