The Daily: Bitcoin Hits Record Monthly Close; Coinbase Buys 2,509 BTC, Rejoining Top 10 Public Bitcoin Treasuries

By James Hunt — August 1, 2025

Bitcoin closed July at $115,644, marking the highest monthly close in its 16-year history despite a recent dip. Meanwhile, Coinbase disclosed a significant purchase of 2,509 BTC in Q2, pushing its total holdings to 11,776 BTC and re-entering the top 10 public bitcoin treasury companies.

Bitcoin Records Highest Monthly Close in History Despite Dip

Bitcoin’s July close at $115,644 represents a historic milestone.
The market absorbed a large 80,000 BTC ($9 billion) sale by an OG whale during the month, demonstrating market resilience and maturity, according to BTC Markets Crypto Analyst Rachael Lucas.
Lucas noted that this recovery indicates a solid foundation of buyers and sustained confidence in bitcoin amid macroeconomic uncertainty and growing institutional involvement.
LVRG Research Director Nick Ruck cautioned about short-term selling pressure due to ETF outflows, Federal Reserve policies, and tariff concerns but expects a rebound later in August.
Analysts emphasize bitcoin’s long-term strength as a scarce, decentralized, and increasingly relevant financial asset.

Coinbase Re-enters Top 10 Public Bitcoin Treasury Companies with 2,509 BTC Buy

Coinbase bought 2,509 BTC in Q2 for approximately $222 million, increasing its total holdings to 11,776 BTC (valued at $1.3 billion).
This acquisition allowed Coinbase to surpass Tesla in public company treasury rankings.
CEO Brian Armstrong reaffirmed Coinbase’s bullish stance: “Coinbase is long bitcoin … we keep buying more.” The firm holds $614 million in unrealized bitcoin gains.
Despite a dip in Q2 trading volume and revenue, Coinbase reported $1.4 billion in net income, supported by growth in ETF custody and its Base Layer 2 network products.
Coinbase plans to become an "everything exchange" in the U.S., offering tokenized stocks, prediction markets, and early-stage token sales onchain.

Analysts Cheer Strategy’s Record Q2 as Bitcoin Treasury Pioneer Celebrates Its 'iPhone Moment'

Strategy reported a record Q2 net income of $10 billion and increased its "BTC $ Gain" to $20 billion, maintaining its position as the top bitcoin treasury firm.
Executive Chairman Michael Saylor introduced a new capital strategy centered on Stretch (STRC), a bitcoin-backed perpetual preferred stock dubbed the company’s "iPhone moment."
Wall Street analysts praised Strategy’s mNAV-driven issuance model and capital precision, raising price targets and maintaining bullish ratings.
Despite a 5% dip in stock price, analysts remain confident in Strategy’s long-term plan to scale bitcoin-per-share growth through equity innovation and strategic capital raises.

Metaplanet Plans $3.7 Billion Stock Issuance by 2027 to Fund Bitcoin Accumulation

Tokyo-listed bitcoin treasury firm Metaplanet filed to issue up to $3.7 billion in new perpetual preferred shares by 2027 to support aggressive BTC accumulation.
This proposed raise represents about 75% of its current market cap and aims to increase treasury holdings from 17,132 BTC to 210,000 BTC.
The plan requires shareholder approval at a September 1 meeting to increase authorized shares and create two new preferred share classes.
These preferred shares prioritize dividend payouts up to 6% over common shareholders, with proceeds dedicated to bitcoin acquisitions.

Spot Ethereum ETFs Post 20th Consecutive Day of Net Inflows, Marking Longest Streak Since Debut

Spot Ethereum ETFs recorded their 20th straight day of net inflows, adding $17 million on Thursday.
This streak is the longest since their launch in July 2024, attracting nearly $5.4 billion in total net inflows, surpassing the previous 19-day record of $1.4 billion.
Total ETF assets under management now stand at $21.5 billion.
Analysts attribute this surge to a rotation from bitcoin to altcoins, with U.S. issuers racing to launch new spot ETFs for assets like Solana, XRP, and Litecoin.

Looking Ahead to Next Week

Eurozone PPI data will be released Tuesday; U.S. mortgage data on Wednesday.
The Bank of England’s interest rate decision and U.S. jobless claims figures are due Thursday.
U.S. FOMC members Mary Daly and Raphael Bostic will speak Wednesday and Thursday, respectively.
Bank of England Governor Andrew Bailey will speak Thursday.
Token unlocks are scheduled for Ethena, IOTA, EigenLayer, Immutable, and Moca Network.

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Source: Originally published at The Block on August 1, 2025.

Frequently Asked Questions (FAQ)

Bitcoin's Monthly Performance

Q: What was Bitcoin's monthly closing price in July?

Q: Did Bitcoin experience any dips in July?

Q: How resilient was the Bitcoin market in July?

Q: What factors might have caused short-term selling pressure on Bitcoin?

Q: What is the long-term outlook for Bitcoin according to analysts?

Coinbase's Bitcoin Holdings

Q: How much Bitcoin did Coinbase purchase in Q2?

Q: What is Coinbase's current total Bitcoin holding?

Q: Where does Coinbase rank among public Bitcoin treasury companies after its recent purchase?

Q: What is Coinbase's stance on holding Bitcoin?

Corporate Bitcoin Treasury Strategies

Q: Which company reported a record Q2 net income and increased its "BTC $ Gain"?

Q: What new capital strategy did Michael Saylor introduce?

Q: What is Metaplanet's plan for Bitcoin accumulation?

Ethereum ETF Performance

Q: How long has Spot Ethereum ETFs been experiencing net inflows?

Q: What is the significance of this streak for Ethereum ETFs?

Q: What is contributing to the surge in Ethereum ETF inflows?

Crypto Market AI's Take

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The Daily: Bitcoin records highest monthly close, Coinbase re-enters top 10 public treasury companies with 2,509 BTC buy, and more