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Strategy Spent Another $27 Million on Bitcoin Before It Crashed

Strategy, the world’s largest corporate holder of Bitcoin, said that it spent $27 million on the asset last week, but it appears that the firm did so before the leading cryptocurrency's price plunged on Friday.

Although Bitcoin’s price ranged between $126,000 and $110,000 last week, Strategy said that it purchased 220 Bitcoin at an average price of $123,500, a figure that aligns more closely with Bitcoin’s all-time high mark a week ago than the dip that followed, according to a press release.

Strategy’s latest Bitcoin purchase was its third-smallest this year, but it still lifted the average cost of Bitcoin in its stockpile above the $74,000 mark. At other points this year, Strategy has unveiled weekly Bitcoin purchases costing the firm as much as $2.46 billion.

Canaan Stock Soars 40% After Unveiling Gas-to-Compute Pilot Project in Alberta

Bitcoin mining hardware manufacturer Canaan stock jumped 40% Monday, closing at $1.52 on double its average trading volume, following its announcement of a gas-to-compute pilot in Alberta, Canada.

The pilot project, developed with Calgary-based Aurora AZ Energy, is designed to convert 「distributed natural gas resources」 into 「reliable, cost-efficient power for high-density computing environments,」 according to a statement.

Distributed natural gas resources are small or remote gas sites that can be used locally to generate power instead of sending the gas to power plants. When used for Bitcoin mining, such a resource could provide cheaper and more reliable off-grid power.

Citi Gears Up to Roll Out Crypto Custody Services in 2026: Report

Citi will reportedly debut a crypto custody service in 2026 as mainstream financial institutions dive deeper into the digital asset space.

CNBC reported Monday that the bank has been developing a custody service for digital assets over the past two to three years, citing an interview with global head of partnerships and innovation Biswarup Chatterjee.

Citi did not immediately respond to Decrypt's request for comment, but Chatterjee was quoted saying that the upcoming custody service would involve Citi holding the digital coins and tokens for clients.

Bitcoin & Ethereum Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Monday was $326.52 million. The total net asset value of Bitcoin spot ETFs is $157.18 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.81%.

The Bitcoin spot ETF with the highest net inflow on October 13 was iShares Bitcoin Trust ETF (IBIT), with a net inflow of $60.36 million, according to SoSoValue.

Source: SoSoValue

The overall net outflow of the US Ethereum spot ETF on Monday was $428.52 million. The total net asset value of Ethereum spot ETFs is $28.75 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 5.56%.

The Ethereum spot ETF with the highest net outflow on October 13 was iShares Ethereum Trust ETF (ETHA), with a net outflow of $310.13 million, according to SoSoValue.

Source: SoSoValue