MicroStrategy pulled 411.5 BTC — worth roughly $30 million — from Coinbase Prime just hours after depositing it, a move that quickly eased worries the company was preparing to sell. The transaction came as Bitcoin traded near $73,600 and the firm's total holdings remained at 843,738 BTC. MicroStrategy hasn't bought any Bitcoin since May 18.
MicroStrategy's quick reversal
The deposit-and-withdraw sequence was unusual. MicroStrategy sent 411.5 BTC to Coinbase Prime, then withdrew the same amount a few hours later. Traders had been watching for any sign the company might offload some of its enormous stash. By pulling the coins back, the firm signaled it wasn't looking to sell — at least not yet. The move briefly lifted sentiment in a market already hovering near recent highs.
BitMine loads up on ETH
Tom Lee's BitMine added 25,000 Ether for $50.6 million, the firm disclosed this week. The purchase comes as Ethereum trades well below its 2021 peak, but BitMine appears to be betting on a recovery. The buy is one of the larger single-block ETH acquisitions this year and pushes BitMine's total holdings past 100,000 Ether.
Bitcoin's 200-week moving average climbs
Bitcoin's 200-week moving average — a widely watched long-term indicator — crossed $61,000 this week, up from $60,000 in early May. Blockstream CEO Adam Back flagged the move as a bullish signal for the current cycle. The metric has historically marked the floor of major bear markets and the start of new uptrends. Its steady rise suggests the network's fundamentals are strengthening even as price action remains choppy.
Enterprise AI costs spiral
Outside crypto, enterprise spending on AI tools is getting out of hand. An unnamed client ran up a $500 million charge on Anthropic's Claude AI in a single month — the company had no usage limits in place. Microsoft trimmed internal Claude Code licenses after per-engineer costs hit $500 to $2,000 a month. Uber reportedly exhausted its entire 2026 AI budget by April. And Amazon went so far as to shut an internal AI leaderboard after staff gamed it with low-value prompts to boost their scores. The trend underscores how quickly AI costs can balloon when guardrails are missing.
