Bitcoin’s Overnight Gain Fades Ahead of U.S. Inflation Report
Bitcoin rose toward $84,200 overnight but retreated to the low $83,000s by Monday morning as short covering faded and oil prices softened. Strategy bought 250 Bitcoin for about $21.5 million, lifting its holdings to 848,250 coins, funded mostly by common stock sales. Jeonbuk Bank also issued South Korea’s first traditional-bank corporate loan secured by Bitcoin held at a third-party custodian.
Bitcoin touched about $84,243 overnight before slipping below $82,600 by Monday, as traders unwound short positions and watched softer oil, a firmer dollar, and Wednesday’s U.S. inflation data. Strategy added 250 coins for $21.5 million, averaging $86,194, bringing its treasury to 848,250 Bitcoin; it also repurchased roughly $192 million of STRC preferred shares, with common-stock sales covering most of the purchase.
Jeonbuk Bank completed South Korea’s first Bitcoin-collateralized corporate loan from a traditional bank, using a third-party custodian and restricting proceeds to operating costs. Separately, SWI Group raised about $894 million at a €6.1 billion valuation to convert former Genesis Digital sites to AI computing, selling remaining Kazakhstan mining assets.
Bitcoin’s retreat ahead of inflation data may keep crypto investors cautious, while Strategy’s continued buying could reinforce corporate treasury adoption. Jeonbuk Bank’s collateralized loan may expand credit access for South Korean firms holding Bitcoin, though custody and default risks could affect lenders and regulators. SWI’s shift from mining to AI may redirect power and jobs toward data-center work, potentially reshaping local energy debates.