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Michael Saylor is highlighting Strategys remarkable recovery from the crypto market downturn of 2022, revealing that the companys Bitcoin holdings and cash reserves now exceed its debt by approximately $48 billion. The announcement comes as Strategys latest preferred stock offering, STRC, continues to trade below its intended $100 price level, raising questions among investors about the sustainability of the companys Bitcoin acquisition strategy.

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Galaxy Digital CEO Mike Novogratz remains optimistic about Bitcoin despite its recent lackluster performance, arguing that a future shift in U.S. monetary policy could reignite the cryptocurrencys growth narrative. Speaking on Anthony Scaramuccis All Things Markets podcast, Novogratz pushed back against claims that Bitcoin has become a dead asset.

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Bitcoin climbed back above the $64,000 level on Saturday as optimism surrounding renewed U.S.-Iran negotiations helped improve investor sentiment across global financial markets. The recovery followed a week of uncertainty after reports suggested that diplomatic discussions between Washington and Tehran had stalled.

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The miner's AI cloud growth may reduce sell pressure, but May data shows Bitcoin retention still lagging.