Bitcoin News Today: Institutional Confidence Grows as XRP, Bitcoin, and NFTs See Major Moves

Recent developments in the cryptocurrency market highlight a mix of volatility and strategic positioning, driven by key movements from high-profile figures and institutional investors. Ripple co-founder Chris Larsen has moved approximately $140 million worth of XRP to exchange-linked addresses, according to blockchain analyst ZachXBT. The transfer of 50 million XRP—split between two known exchange wallets, one third-party address, and two newly created accounts—has sparked market speculation about its impact on XRP’s price, especially following the asset’s recent all-time high of $3.65 on July 18. Larsen-linked accounts still hold around 2.81 billion XRP, valued at roughly $9 billion, but large-scale movements from early insiders often trigger short-term market jitters due to XRP’s concentrated supply [1].

In a broader institutional move, a Bitcoin treasury firm formerly known as MicroStrategy—now rebranded as Strategy—has upsized its "Stretch" preferred stock offering from $500 million to $2 billion, citing strong investor demand. The firm will use the raised capital to further accumulate Bitcoin, having recently spent nearly $740 million to purchase 6,220 BTC, bringing its total holdings to 607,770 BTC or approximately 3% of the total supply. The Stretch shares are offered at $90 each with a 9% annual dividend, and analysts at TD Cowen forecast the firm could hold 900,000 BTC by 2027 [2].

Meanwhile, GameSquare, an Ethereum holding company, has added a rare "Ape Punk" CryptoPunk NFT—acquired in a $5.15 million transaction—to its treasury. The NFT, obtained from Robert Leshner, founder of Compound and Superstate, will be held as a strategic asset, with plans to tokenize its shares on Superstate’s platform. Leshner will also join the firm as an advisor. This follows the company’s broader expansion of its ETH treasury program, including an increased $250 million allocation for Ethereum purchases [3].

The market also saw a notable movement from a long-dormant Bitcoin wallet, active in 2011, which transferred 3,962 BTC—valued at around $468 million—after 14 years of inactivity. The wallet, which had accumulated its holdings when Bitcoin traded at $0.37, has reactivated alongside a wave of similar movements totaling over $1.7 billion in BTC in the past week. While the identity of the owner remains unknown, the move has triggered speculation about potential sales or reallocations [4].

Amid this activity, JPMorgan analysts reported that crypto inflows have reached $60 billion year to date, attributed to ETF flows, CME activity, and renewed venture capital interest, all supported by favorable U.S. policy developments such as the recently passed GENIUS Act and advancing CLARITY Act. These regulatory shifts are reshaping the institutional landscape, with Ethereum emerging as a key beneficiary due to its role in DeFi and corporate treasury strategies [5].

These movements underscore a broader trend of institutional confidence and strategic diversification in the digital asset space, though the market remains sensitive to large token movements and regulatory developments.

Source: [1] The Daily: Ripple co-founder moves $140 million in XRP, Strategy boosts bitcoin bet, GameSquare adds NFT to treasury, and more - [https://www.theblock.co/post/364226/the-daily-ripple-co-founder-moves-140-million-in-xrp-strategy-boosts-bitcoin-bet-gamesquare-adds-nft-to-treasury-and-more](https://www.theblock.co/post/364226/the-daily-ripple-co-founder-moves-140-million-in-xrp-strategy-boosts-bitcoin-bet-gamesquare-adds-nft-to-treasury-and-more)