Bitcoin Hovers Near $80,000 Amid Corporate Demand and US Crypto Policy
Bitcoin hovered near $80,000 on Sunday as investors considered corporate demand and US crypto policy. Corporate buyers remain active, with Strategy expanding its holdings after raising $602.8 million through common-stock sales between August 24 and 30. The company used $369.7 million of those proceeds to buy 4,603 Bitcoin.
The purchases brought Strategy's holdings to 845,050 BTC as of August 30. This is part of a larger trend of corporate accumulation, with Strategy issuing $20.9 billion in common and preferred equity this year, making it one of the largest US equity issuers.
Regulatory policy is also gaining attention, with the US Senate approaching a procedural vote on the CLARITY Act. This legislation would establish a federal market structure for digital assets and divide oversight between the Commodity Futures Trading Commission and Securities and Exchange Commission.