Today in crypto, Strategy co-founder Michael Saylor hints at Bitcoin buy, Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and AI centers, and ARK Invest CEO Cathie Wood says crypto ETFs are here to stay, and crypto industry executive.
Strategy co-founder Michael Saylor signals impending Bitcoin purchase
Strategy co-founder Michael Saylor hinted at an impending Bitcoin purchase by posting the Bitcoin
BTCUSD
chart the executive typically posts on Sundays to signal that the company will acquire more Bitcoin the following day when traditional financial markets open.
"I only buy Bitcoin with money I can't afford to lose," Saylor wrote to his 4.3 million followers in an X post.
According to data from SaylorTracker, the company holds a total of 576,230 BTC, valued at over $62.5 billion, and is up over 55.5% on its investment, representing unrealized gains of over $22 billion at the time of this writing.
The company continues to be closely watched by investors as a proxy for Bitcoin and a barometer for institutional adoption of the scarce digital asset.
Pakistan allocates 2,000MW power for Bitcoin mining and AI centers
Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.
The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.
In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.
The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.
Crypto ETFs won’t lose ‘their luster’ as wallet adoption grows — Cathie Wood
ARK Invest CEO Cathie Wood says crypto exchange-traded funds (ETFs) will likely maintain their place in the economy no matter how big crypto wallet adoption becomes over the next decade.
“I think ETFs are an important stepping stone because, you know, wallets seem so complicated, so much friction for consumers, they just wanna push a button,” Wood said at the Solana Accelerate event in New York on May 23.
“So ETFs for those who want the convenience, I don’t think, will lose a lot of their luster,” she said. “But they will be a stepping stone into wallet-based.”
Bitbo data suggests that there are around 200 million active Bitcoin wallets worldwide. Meanwhile, the trading week ending May 23 saw approximately $2.75 billion inflows into US-based spot Bitcoin ETFs, coinciding with Bitcoin reaching a new all-time high of $111,970 on May 22.
