Orbit: Crypto Community Feed

$BTC # Bitcoin Hotspot Daily Report (August 4, 2026) Top 3 Most Important Things Today 1. Coldcard hardware wallet vulnerability continues to escalate, losses exceed $100 million, self-custody confidence shaken In recent days, Coldcard (Coinkite) has been affected by a 2021 firmware entropy generation flaw, allowing attackers to offline reproduce weak seeds and sweep wallets. Galaxy Research tracked losses rising from about $70 million to nearly $90 million–$100 million+ (around 1367+ BTC, involving thousands of addresses), now on the fifth day. The incident has sparked widespread discussion on whether hardware wallets are truly secure, with some funds flowing back to exchanges. Why it matters: Directly challenges the core narrative of Bitcoin "self-custody supremacy," potentially suppressing retail holders’ willingness in the short term and accelerating the adoption of multisignature and stronger entropy verification practices. Possible impact: Bearish (sentiment and short-term price) / Neutral to bullish medium to long term (promotes industry security upgrades) 2. Strategy increases USD reserves by $250 million and repurchases $81 million STRC, funds mainly from stock sales Strategy (formerly MicroStrategy) sold about 3.01 million shares of MSTR common stock via ATM program from July 27 to August 2, netting $290.6 million, of which $250 million was directly used to increase USD Reserve to $4 billion; simultaneously sold 1,638 BTC (about $105 million) to pay preferred stock dividends and repurchase about $81.2 million of STRC (912,143 shares). BTC holdings now stand at 842,138 coins. This extends USD duration by 57 days to 2.3 years and tightens STRC’s BTC credit spread by 5 basis points. Why it matters: Clearly demonstrates the company’s current capital management priorities—prioritizing strengthening USD liquidity and preferred stock credit rather than simply hoarding coins. The combination of selling stock to increase reserves and selling coins to pay dividends/repurchase reflects the practical implementation of its "Digital Credit Capital Framework." Possible impact: Neutral to bullish (enhances financial flexibility and STRC stability), but somewhat challenges the short-term "buy and hold only" narrative 3. U.S. Senate has about 4 days left to pass the CLARITY Act, regulatory implementation approaching a critical moment Accounts like Bitcoin Magazine call for contacting senators, and industry players like Coinbase emphasize the bill’s significance for consumer protection, innovation, and U.S. competitiveness. Some opinions hold that Bitcoin itself does not rely on the bill, but the U.S. needs it. Why it matters: Regulatory clarity is a key catalyst for further institutional and banking entry; missing the window may delay progress until after the midterm elections. Possible impact: Bullish if passed, neutral to bearish if failed

#MSTR sells another 1,638 bitcoins, halving its scale MicroStrategy has sold Bitcoin once again. This time, the market is starting to reassess whether this company, once hailed as a Bitcoin faith giant, is undergoing changes? According to the latest disclosure, Strategy sold 1,638 $BTC between July 27 and August 2, cashing out approximately $104.7 million, with an average transaction price of $63,957, which is below the previous holding cost of $75,419. The current holding has dropped to 842,138 coins. Seeing this, one might wonder if Strategy is starting to waver? But I think this looks more like a long-term investor adjusting the sails during a storm, rather than abandoning ship outright. In past bull markets, Strategy was like a BTC castle that kept getting taller, continuously buying Bitcoin through financing and issuing shares, building itself into the market’s largest publicly listed BTC holder. But the taller the castle, the higher the maintenance costs. The 12% fixed dividend on preferred shares is like the daily guard fees the castle must pay; regardless of market conditions, this money must be paid on time. So this sale of coins is more like taking some reserve grain from the warehouse to keep the castle running normally, rather than dismantling the entire castle. Notably, the scale of this sale is significantly smaller than the 3,588 BTC sold in early July, and after selling, there was a four-week pause. If Strategy were truly bearish on Bitcoin, logically it would continue to reduce holdings rather than make a small-scale capital structure adjustment. Additionally, the market should pay more attention to the condition it proposed for repurchasing coins: the preferred share price returning near the issue price. This reflects the core of Strategy’s business model—it’s not simply holding BTC, but leveraging the capital markets to amplify BTC exposure. Simply put, it has operated like a machine running on external funds; as long as the market is willing to give it a higher valuation, it can keep financing to buy coins. But when the preferred share price falls below expectations, the machine’s gears encounter resistance. So the question isn’t whether Strategy still believes in BTC, but whether this machine can continue to operate at high speed. My view is that, in the short term, this will put some pressure on the market because a long-term buyer starting to sell affects investor confidence. But from a long-term perspective, 1,638 BTC is limited in impact compared to the 840,000 holdings; it looks more like a capital adjustment rather than a strategic shift. What really needs caution is if BTC enters a prolonged consolidation, Strategy’s financing costs keep rising, and the market doesn’t give it new premiums, then its once “unlimited coin-buying model” may hit a bottleneck. The above is just my personal opinion!