Bitcoin catches a bid after weekly loss, on track for best day in over a month

 Bitcoin on Monday caught a bid, rising more than 2% and on track for its best day in over a month. The advance came after the world’s largest cryptocurrency shed nearly 3% last week.

Crypto market participants were looking ahead to a White House meeting later in the week involving top leaders from the industry.

Bitcoin was last up 2.3% to $64,282.9 by 18:25 ET (22:25 GMT).

Bitcoin had been weighed down last week by a combination of Middle East jitters, regulatory setbacks, and the disclosure of more sales by top corporate holder Strategy. Continued capital outflows from spot Bitcoin also clouded the mood.

Trump set to meet crypto leaders at White House this week

President Donald Trump is expected to attend a White House meeting of his administration’s new innovation committee on Wednesday, Coindesk reported.

The meeting is set to be attended by a host of crypto CEOs and prediction market leaders, and will also include attendees from traditional finance and artificial intelligence.

Wednesday’s meeting is a precursor to a meeting at the Commodities Futures Trading Commission, which oversees the innovation committee, on Thursday.

The CFTC is expected to discuss more crypto regulation at the meeting, which comes amid continued sparring among lawmakers over the passing of the long-delayed Clarity Act.

Bitcoin ETFs nurse deep weekly outflow

Spot Bitcoin ETFs clocked nearly $390 million in outflows last week, data from aggregator SoSoValue showed.

The outflow was the worst seen since early-July, and coincided with a nearly 3% drop in Bitcoin prices.

Bitcoin and crypto markets lagged a rally in tech and artificial intelligence stocks last week, as sentiment towards the sector was aided by a host of upbeat chipmaker earnings.

On Monday, Bitcoin was helped by the U.S. Treasury seeking public comment on the issuance,
offering, and sale of payment stablecoins under the GENIUS Act.

Strategy sells $333.7 mln in shares, leaves Bitcoin holdings unchanged

Strategy, the Bitcoin treasury company, sold roughly $333.7 million worth of its own shares last week, according to a regulatory filing on Monday.

The company sold 3,458,866 shares between August 10 and August 16, the filing showed. Strategy made no Bitcoin purchases or sales during that period.

Proceeds from the stock sale were directed toward several uses, according to the filing. Strategy allocated $52.4 million to fund dividends on its STRC preferred stock, $132.2 million toward repurchases of STRC shares under its Digital Credit Securities Repurchase Program, and $149.1 million to bolster its cash reserves, bringing its USD holdings to $4.8 billion.

Strategy’s Bitcoin position remains unchanged at 840,447 tokens, valued at approximately $53.4 billion at current prices. The company’s average purchase price works out to $75,385 per bitcoin, for a total investment of about $63.4 billion including fees and expenses.