Rising institutional interest at Bitcoin conferences marks a pivotal shift in 
the crypto market&#8217;s maturity.
The post Arjun Sethi: Kraken balances institutional needs with decentralization, Bitcoin conference reflects market maturity, and inflationary pressures pose risks to crypto | Galaxy Brains appeared first on Crypto Briefing.

Arjun Sethi: Kraken balances institutional needs with decentralization, Bitcoin conference reflects market maturity, and inflationary pressures pose risks to crypto | Galaxy Brains

Strategy—formerly known as MicroStrategy—could meaningfully accelerate its 
Bitcoin-buying pace this year, according to analysts at JPMorgan. The firm, 
led by well-known Bitcoin bull Michael Saylor, is already one of the largest 
publicly traded Bitcoin treasury companies, and JPMorgan believes its next 
move may be a larger, faster round of acquisitions. Strategy Could Outpace 
Past Bitcoin Buying Strategy currently holds more than 818,000 Bitcoin, 
according to BitcoinTreasuries.net. Purchases have been active throughout 
2026: the company reportedly added over 145,000 BTC in just five months, which 
is estimated at roughly $11 billion. JPMorgan analysts, however, said that 
amount could rise substantially. Under their view, Strategy’s Bitcoin 
purchases this year could reach $30 billion over the course of the year. At 
today’s implied annualized pace, that would put 2026 purchases far above the 
roughly $22 billion acquired across 2024 and 2025 combined. Related Reading: 
VanEck Forecast: Bitcoin Could Climb To $1,000,000 By 2031, Research Head Says 
JPMorgan pointed to a change in momentum in April, saying Strategy “appears to 
have re-accelerated its bitcoin purchases.” The analysts tied the behavior to 
what they described as an increasingly opportunistic buying pattern. The 
optimism around Strategy’s plan also showed up in analyst price targets. On 
Thursday, TD Cowen raised its target price for the company’s stock, MSTR, from 
$385 to $395. As of the time of writing, MSTR closed at $179, translating to 
an 18% gain since the beginning of the year. If TD Cowen’s forecast were to 
play out, the implied move would represent about a 120% jump from current 
levels. Net Loss Vs. Big Forecast Analysts also highlighted the financing 
approach by Strategy behind the acquisitions. They say the firm&#8217;s increased 
use of STRC (variable-rate perpetual preferred stock) to fund Bitcoin 
purchases could improve capital efficiency, making it more attractive relative 
to prevailing market pricing. Still, the company&#8217;s latest financial picture 
includes major losses. Strategy reported a net loss of $12.54 billion for the 
quarter, driven largely by an unrealized decline in Bitcoin fair value of 
$14.46 billion. Related Reading: This New Move Just Opened XRP To 44 Million 
New Users Looking ahead, the base case and scenarios for Strategy reflect a 
bullish outlook. The firm’s base case is that Bitcoin could reach 
approximately $140,000 by the end of 2026, with an upside scenario of about 
$175,000. Separately, Joseph Vafi at Canaccord Genuity reiterated a Buy rating 
on May 7, lifting his MSTR price target from $185 to $224. Canaccord noted 
that since Bitcoin has rebounded—moving up from its roughly $62,000 low to 
more than $80,000—Strategy has continued to “weather another perceived storm. 
Featured image created with OpenArt, chart from TradingView.com

JPMorgan Says Strategy Could Buy Up To $30B In Bitcoin This Year– TD Cowen Lifts Target To $395

Mason Lynaugh, executive director of Stand With Crypto, took the Consensus 
Miami 2026 stage on Thursday to outline how the group&#8217;s 2.7 million advocates 
will engage in the November midterms. Mason Lynaugh, executive director of 
Stand With Crypto, outlined the…

Mason Lynaugh unveils Stand With Crypto strategy

Coinbase shares fell about 5% after hours as Q1 revenue dropped to $1.4 
billion and the exchange posted a $394 million loss.
The post Coinbase reports $394M Q1 loss as stock declines 5% after hours amid 
trading slowdown appeared first on Crypto Briefing.

Coinbase reports $394M Q1 loss as stock declines 5% after hours amid trading slowdown

A federal court has sentenced a California man to 78 months in prison for his 
role in a social engineering conspiracy that authorities say stole more than 
$250 million in cryptocurrency. The ‘Instrument of Last Resort’ A U.S. federal 
court has sentenced a California man to 6 1/2 years in prison for his role in 
[…]

California Man Gets 6½ Years as FBI Ties $250M Crypto Heists to Home Burglaries

Institutional investors are gradually increasing crypto exposure as Bitcoin 
leads allocation preferences amid rising fund inflows and improving market 
sentiment.

Arjun Sethi: Kraken balances institutional needs with decentralization, Bitcoin conference reflects market maturity, and inflationary pressures pose risks to crypto | Galaxy Brains

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