Bitcoin Holds Near $63.7K as Markets Assess Reported Coldcard Security Breach and Strategy's $105M Bitcoin Sale

Bitcoin edged up 0.2% to $63,711.60 on Monday, stabilizing after a session influenced by a reported wallet security incident and quarterly updates from two closely watched publicly listed crypto companies.

Key developments:

→ Canadian wallet maker Coinkite said certain Coldcard wallets had been compromised, with Galaxy Research estimating that nearly $90 million worth of bitcoin had been taken from more than 4,500 wallets.

→ Strategy, led by Michael Saylor, sold 1,638 BTC for approximately $104.7 million between July 27 and Aug. 2 at an average price of $63,957, according to an SEC filing.

→ The sale reduced Strategy's holdings to 843,138 BTC (valued at about $52.6 billion at current market prices), based on the company's disclosed average acquisition cost of $75,419 per bitcoin.

→ Strategy said the proceeds were used to fund preferred-stock distributions and repurchase STRC shares.

The sale followed a larger-than-expected second-quarter loss at Strategy and weaker quarterly results at Coinbase, where transaction volumes declined amid softer trading activity and broader shifts in investor sentiment across risk assets. Analysts also cited ongoing geopolitical developments, including tensions involving the United States and Iran, as one of several factors influencing market sentiment.

Elsewhere, Ethereum fell 1.2% to $1,867.12, XRP declined 0.5%, while Cardano rose 2.5%.

Market focus: Market participants are monitoring future SEC filings from Strategy for updates on its bitcoin holdings and capital management activities. Analysts also continue to follow geopolitical developments, including U.S.-Iran relations, as one of several factors that may influence sentiment across digital asset markets.

Sources: Galaxy Research, SEC filing (Strategy), company statements (Michael Saylor)