Crypto Biz: AI took a back seat when Bitcoin started climbing
August’s crypto rally renewed appetite for direct token exposure. Bitcoin miners, after spending the downturn pitching AI links, surged back in line with BTC, showing investors still value leveraged Bitcoin bets. Strive and Strategy also used the rally to add more BTC to corporate treasuries, expanding holdings significantly. Institutional crypto accumulation is also deepening in Ether: Bitmine kept buying for a 65th straight week and now holds about 4.9% of ETH supply, though it still sits on large unrealized losses. At the same time, traditional finance is moving into digital dollars. A 21-bank consortium including Bank of America, Goldman Sachs and Citi plans to launch a G7 stablecoin platform, starting with a U.S. dollar token in 2027 and later expanding to other currencies.
