Altcoins Sink, Strategy Banks on Bitcoin!

Michael Saylor says Strategy plans to resume its Bitcoin acquisition strategy after a brief two-week pause.

Author

Danielle du Toit
April 14, 2025

In partnership with

Could RYSE be the next Ring?

Venture capitalists know how difficult it is to spot early investment opportunities – just ask the Sharks from Shark Tank. They passed on Ring at just $700,000, only to watch it sell to Amazon for $1.2B – a 1700x return missed.

Now, there’s a new smart home start-up following the same blueprint: meet RYSE.

The founder pitched on Canada’s Shark Tank, secured two offers, and now their patented smart shades are sold in 127 Best Buy stores, Amazon and Walmart – with Home Depot launching in 2025.

Ring used retail expansion to dominate smart security. RYSE is using the same playbook to disrupt the smart shade market inside the 158B smart home industry.

Past performance is not indicative of future results. Email may contain forward-looking statements. See US Offering for details. Informational purposes only.

Here's what we've got for you today:

  • Bitcoin Holds Strong as Strategy Resumes Massive Accumulation

  • Mantra Says One Particular Exchange May Have Caused OM Collapse

  • Trump’s World Liberty Financial Buys $775K in SEI in Altcoin Buying Spree

  • SEC and Binance Extend Legal Pause as CZ Denies WSJ Allegations

According to Michael Saylor, Strategy intends to resume its aggressive Bitcoin acquisition strategy after a brief two-week pause.

  • Strategy’s last Bitcoin purchase was made on March 1, when it bought 22,048 BTC. This raised Strategy’s total holdings to 528,185 BTC.

  • Despite Bitcoin dipping below $80,000 due to the current macroeconomic turmoil, Strategy’s continued accumulation proves that there is still strong institutional confidence in BTC.

  • While Bitcoin is down 22% from its January peak, altcoins suffered a steeper 33% decline since December of 2024, according to Total3 market cap data.

The Mantra team believes its native token’s sudden 90% drop was caused by exchanges closing positions without notice.

  • On April 13, OM’s price plummeted from $6.30 to under $0.50, wiping out more than 90% of its $6 billion market cap in a matter of hours.

  • Co-founder John Mullin attributed the crash to “reckless forced closures” by centralized exchanges during low-liquidity hours, and called the actions negligent or possibly intentional.

  • While ruling out Binance, Mullin suggested one specific exchange may be responsible and promised some more details during an upcoming community call on X.

Data suggests that the Trump-linked crypto project spent close to $347 million buying altcoins.

  • World Liberty Financial added 4.89 million SEI tokens worth $775,000 to its altcoin portfolio on April 12, using USDC from its main wallet.

  • WLFI already holds other major assets like BTC, ETH, TRX, AVAX, ONDO, and now SEI.

  • Blockchain data from Lookonchain revealed that WLFI's portfolio is currently down $145.8 million, including a $114 million loss on its Ethereum holdings alone.

🛑 SEC and Binance Extend Legal Pause as CZ Denies WSJ Allegations

The SEC and Binance have jointly requested a 60-day extension in their ongoing legal dispute.

  • On April 11, the SEC and Binance jointly requested a 60-day extension in their ongoing legal case. This was the second such pause this year already.

  • The two parties specifically pointed to ongoing “productive discussions,” including how the SEC’s new Crypto Task Force might reshape the regulator’s original claims.

  • The joint filing suggests a reassessment of the case’s direction, and could even suggests a potential softening in the SEC’s enforcement approach under new leadership.

👀 QUICK NEWS

MEME OF THE DAY

How did you like today's newsletter?

Login or Subscribe to participate in polls.

That’s it for today. Don’t forget to share Coinpaper Digest with your friends!