Jack Dorsey, co-founder and CEO of Block, reaffirmed on Wednesday his belief in Bitcoin&#8217;s (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) use as a daily transactional currency rather than a store of value.



<h2 class="wp-block-heading">Bitcoin As A Payment Medium</h2>



Dorsey took to X, expressing his agreement with BitVM creator Robin Linus&#8216; argument that Bitcoin was envisioned as a private, peer-to-peer electronic cash system. 



Citing the <a href="https://www.benzinga.com/money/what-is-bitcoin-how-does-it-work#:~:text=Satoshi%20Nakamoto%2C%20the%20anonymous%20founder,other%20financial%20intermediaries%20in%20transactions.">Bitcoin whitepaper</a>, Linus deemed the electronic cash use case the original &#8220;cypherpunk vision,&#8221; and that the &#8220;digital asset&#8221; narrative came in from others.



&#8220;Bitcoin's purpose is payments—store of value is just a neat byproduct,&#8221; Linus said.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">yes <a href="https://t.co/9RoMs5b00f">https://t.co/9RoMs5b00f</a>&mdash; jack (@jack) <a href="https://twitter.com/jack/status/1960839676643958810?ref_src=twsrc%5Etfw">August 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



See Also:&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/08/47358273/is-bitcoin-a-buy-below-110-000-see-why-mr-wonderful-kevin-oleary-prefers-investing-in-bitc">Is Bitcoin A Buy Below $110,000? See Why &#8220;Mr. Wonderful&#8221; Kevin O&#8217;Leary Prefers Investing In Bitcoin Infrastructure</a>



<h2 class="wp-block-heading">The Counterarguments</h2>



However, not everyone was convinced. An X user, RVing Orchardist, argued that the store of value narrative was there from the beginning, pointing toward the message encoded in <a href="https://www.benzinga.com/general/education/25/01/42789566/happy-birthday-bitcoin-16-fun-facts-about-leading-cryptocurrency">Bitcoin&#8217;s Genesis block</a>.



Several Bitcoin supporters have linked it to a&nbsp;<a href="https://www.thetimes.com/article/chancellor-alistair-darling-on-brink-of-second-bailout-for-banks-n9l382mn62h" target="_blank" rel="noreferrer noopener">headline&nbsp;</a>from a story in The Times dated January 3, 2009, referring to the UK government's bailout of banks in the aftermath of the 2007–08 financial crisis.&nbsp;They believe the message challenges the stability of established banking systems and how Bitcoin could become a tool for financial sovereignty.&nbsp;



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The store of value narrative was there from the beginning.  Check your history.   Check Satoshis writings other than the white paper.  Look at all the gold references in the protocol.  Look at the front page newspaper in the genesis Block, look at difficulty adjustment backwards…&mdash; RVing Orchardist (@ScubaMikeBTC) <a href="https://twitter.com/ScubaMikeBTC/status/1960871830270497150?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The user also pointed toward Satoshi&#8217;s birthday as April 5 on their P2P Foundation profile, linking it to the date on which President Franklin D. Roosevelt signed Executive Order 6102, which made it illegal for U.S. citizens to own most gold.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Satoshi Nakamoto&#39;s profile with the P2P Foundation listed April 5 as his birthday. Happy Birthday, Legend &#x1f64c; <a href="https://t.co/rExraUkz9S">pic.twitter.com/rExraUkz9S</a>&mdash; Bitcoin Magazine (@BitcoinMagazine) <a href="https://twitter.com/BitcoinMagazine/status/1908446279216017422?ref_src=twsrc%5Etfw">April 5, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



<h2 class="wp-block-heading">Dorsey Says Bitcoin Risks Becoming Irrelevant If&#8230;</h2>



Dorsey himself has been <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47174788/jack-dorsey-advocates-for-bitcoin-use-as-everyday-currency-as-it-was-designed-to-be">strongly backing Bitcoin&#8217;s use as an everyday currency</a>, a vision originally proposed by the creator,&nbsp;Satoshi Nakamoto.



Earlier in April, he <a href="https://www.benzinga.com/personal-finance/25/04/44658783/jack-dorsey-says-bitcoin-fails-if-it-is-not-used-for-everyday-payments">asserted that Bitcoin would fail</a> if it became nothing more than a store of value. &#8220;I think if it doesn't transition to payments and find that everyday use case, it just gets increasingly irrelevant. And that's failure to me," he stated.



Price Action: At the time of writing, BTC was exchanging hands at $112,899, up 1.27% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.



Photo Courtesy: JarTee on Shutterstock.com



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Bitcoin A Currency Or An Asset? Jack Dorsey Picks A Side

BitMine Immersion Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMNR#NASDAQ">BMNR</a>) shares slipped lower in Wednesday's after-hours trading, even as high-profile investors continued to pour millions into the company.



BMNR is feeling the pressure from bearish momentum. <a href="https://www.benzinga.com/quote/BMNR">See the trading setup here</a>.



<h2 class="wp-block-heading">BMNR Dips But Cathie Wood Is Buying It</h2>



BMNR stock was down 2.22% after-hours, coinciding with a pullback in Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>), its primary reserve asset. The stock tumbled in regular trading hours as well.



Institutional investors heavily bought the dip, with Cathie Wood <a href="https://www.benzinga.com/news/25/08/47374560/cathie-woods-raises-wager-on-ethereum-hoarding-bitmine-ark-buys-stock-of-tom-lee-backed-company-dumps-shares-of-sports-betting-giant">pouring approximately $15.6 million</a> into the stock through her Ark Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>), ARK Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKK#BATS">ARKK</a>) and ARK Next Generation Internet (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKW#BATS">ARKW</a>).



See Also:<a href="https://www.benzinga.com/25/04/44621245/gold-backed-cryptos-match-yellow-metals-highs-following-trumps-liberation-day-shock"> </a><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47332283/ethereum-to-hit-7500-by-end-of-2025-standard-chartered">Ethereum To Hit $7,500 By End Of 2025: Standard Chartered</a>



<h2 class="wp-block-heading">BitMine Leads ETH Accumulation</h2>



BitMine, under the leadership of leading Wall Street analyst Tom Lee, has <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47310872/strategy-metaplanet-bitmine-continue-btc-eth-purchases-heres-how-much-they-bought">become the largest Ethereum treasury company </a>and the world's second-largest cryptocurrency treasury, with a stash of 1,713,899 ETH, valued at $7.77 billion. Over 50% of the holdings have been acquired in the last month.



Noted cryptocurrency analyst Willy Woo credited BitMine <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47350269/tom-lees-bitmine-a-factor-in-capital-moving-from-bitcoin-to-ethereum-says-this-popular-analyst">as the major factor in capital moving</a> from Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) to Ethereum in recent weeks.



Interestingly, the stock has outperformed Ethereum during the last month. While ETH has risen about 20%, BMNR has increased by 31% in the same time.



Price Action: At the time of writing, ETH was exchanging hands at $4,548.41, down 1.98% over the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>. BitMine shares closed 7.85% higher at $46.03&nbsp;during Wednesday&#8217;s regular trading session.



As of this writing, the stock demonstrated a very high Momentum score. Visit&nbsp;<a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound" target="_blank" rel="noreferrer noopener">Benzinga Edge Stock Rankings</a>&nbsp;to see how it compares against other emerging ETH treasury companies.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="436" height="185" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/28001314/image-507.png" alt="" class="wp-image-1046826" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/28001314/image-507.png 436w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/08/28001314/image-507-300x127.png 300w" sizes="(max-width: 436px) 100vw, 436px" /></figure>



Photo Courtesy: Zakharchuk on Shutterstock.com



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BMNR Stock Slips After-Hours Amid ETH Pullback: What You Should Know

El Salvadoran president Nayib Bukele hinted at boosting the country&#8217;s Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) holdings to $1 billion on Wednesday, causing a spike in odds on prediction markets.



<h2 class="wp-block-heading">Bukele Eyeing $1 Billion In BTC?</h2>



Bukele responded to a Kalshi market prediction that El Salvador&#8217;s Bitcoin hoard would reach $1 billion before December. At the time, the odds were at 25%.



&#8220;I could do the funniest&nbsp;thing right now,&#8221; Bukele said in a cryptic post, sparking curiosity that the Bitcoin-friendly nation would accelerate its purchases. 



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I could do the funniest thing right now… <a href="https://t.co/82lENa4hgN">https://t.co/82lENa4hgN</a>&mdash; Nayib Bukele (@nayibbukele) <a href="https://twitter.com/nayibbukele/status/1960796716115882453?ref_src=twsrc%5Etfw">August 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Following his comment, the odds on <a href="https://kalshi.com/markets/kxelsalvadorbtc/el-salvador-bitcoi">Kalshi</a> increased to 41%. As of this writing, the odds were at 36%, up 11 percentage points in the previous 24 hours.



A similar <a href="https://polymarket.com/event/will-el-salvador-hold-1b-of-btc-by-by?tid=1756348831447">bet </a>was created on cryptocurrency-based Polymarket, with users pricing in a 42% chance that the holdings would reach $1 billion by year-end.



Note that Kalshi is a federally-regulated betting platform available to U.S. users, while Polygon (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">POL</a>)-based Polymarket is blocked for access.



See Also:&nbsp;<a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47278995/nayib-bukele-led-el-salvador-is-now-seeing-hundreds-of-students-graduate-with-bitcoin-diplomas">Nayib Bukele-Led El Salvador Is Now Seeing Hundreds Of Students Graduate With Bitcoin Diplomas</a>



<h2 class="wp-block-heading">El Salvador&#8217;s Bold Bet Despite IMF Opposition</h2>



El Salvador&#8217;s Bitcoin&nbsp;<a href="https://bitcoin.gob.sv/" target="_blank" rel="noreferrer noopener">stockpile</a>&nbsp;has risen to 6,282.18 BTC, worth nearly $700.42 million at prevailing prices. 



There are 126 days remaining in 2025. Assuming El Salvador maintains its &#8220;1 Bitcoin a day&#8221; policy, its holdings will grow to 6,408.18 BTC by the end of the year, worth $714 million at current rates. However, if Bitcoin reaches $150,000 apiece, the stockpile will be worth approximately $961 million.



This still pales in comparison to Strategy&#8217;s stash of $70 billion, the U.S. government&#8217;s $22 billion, China&#8217;s $21.24 billion and the UK&#8217;s $6.84 billion, <a href="https://www.coingecko.com/en/treasuries/bitcoin">according </a>to CoinGecko. In fact, it would be smaller than even Bhutan, which had a hoard worth more $1.2 billion, but would exceed the holdings of the United Arab Emirates.



Notably, the International Monetary Fund had asked El Salvador&nbsp;<a href="https://www.benzinga.com/25/03/44133314/el-salvadors-president-bukele-remains-defiant-amid-imfs-concerns-on-bitcoin-accumulation-it-wont-stop-now-and-it-wont-stop-in-the-future" target="_blank" rel="noreferrer noopener">to halt public sector Bitcoin purchases</a>&nbsp;as part of a $1.4 billion funding deal earlier this year. While the country&nbsp;<a href="https://www.benzinga.com/markets/cryptocurrency/25/01/43336076/el-salvador-changes-bitcoin-law-but-legal-tender-status-remains" target="_blank" rel="noreferrer noopener">made the acceptance of Bitcoin voluntary</a>&nbsp;rather than mandatory, it hasn&#8217;t stopped its purchases.



Bukele admitted last year that Bitcoin&#8217;s uptake in the country hasn&#8217;t been a &#8220;<a href="https://www.benzinga.com/markets/cryptocurrency/24/08/40644084/el-salvador-president-nayib-bukele-says-bitcoin-uptake-hasnt-been-a-resounding-success-we-">resounding success</a>&#8220;, stating that it&#8217;s up to the public to embrace it. 



Price Action: At the time of writing, Bitcoin was exchanging hands at $111,450, up 0.26% in the last 24 hours, according to&nbsp;<a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA.." target="_blank" rel="noreferrer noopener">data from Benzinga Pro</a>.



Photo Courtesy: Joey Sussman on Shutterstock.com



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</ul>

Nayib Bukele's 'Funniest Things' Remark Leaves Crypto Community Buzzing, El Salvador On Its Way To Reaching $1 Billion Bitcoin Reserves?

Bitcoin stalled, but leading altcoins rose on Wednesday, even as investors assessed Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) earnings.



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:15 p.m. ET)</th></tr></thead><tbody><tr><td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>+0.07%</td><td>$111,462.01</td></tr><tr><td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.43%</td><td>$4,499.90</td></tr><tr><td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>-0.49%</td><td>$2.97</td></tr><tr><td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+4.90%</td><td>$204.07</td></tr><tr><td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+1.46%</td><td>$0.2199</td></tr></tbody></table></figure>



<h2 class="wp-block-heading">Solana Outperforms Bitcoin, Ethereum</h2>



Bitcoin was rangebound, oscillating between $112,600 and the early $111,000s. Trading volume fell 3.69% in the last 24 hours. Ethereum slipped below $4,500 overnight after a dash to $4,659 earlier in the day.&nbsp;



Solana surged nearly 5% during the day, as data revealed that public firms and corporate treasuries jointly<a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47367630/institutions-hold-1-72-billion-in-solana-strategic-reserve-data-reveals"> own nearly $1.68 billion</a> in SOL.



Over $265 million was liquidated from the cryptocurrency market in the last 24 hours, with nearly $156 million in longs wiped out.



Bitcoin's open interest dipped further by 1.24% in the last 24 hours. Over the last month, the funds locked in Bitcoin derivatives have fallen by 6.42%.



This week, Binance traders drastically cut their BTC long exposure, although the majority were still betting on a price increase, according to the Long/Short ratio.&nbsp;



Top Gainers (24 Hours)



<figure class="wp-block-table"><table class="has-fixed-layout"><thead><tr><th>Cryptocurrency</th><th>Gains +/-</th><th>Price (Recorded at 9:15 p.m. ET)</th></tr></thead><tbody><tr><td>Cronos (CRO)&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+49.63%</td><td>$0.2953</td></tr><tr><td>Kaia (KAIA)&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+11.25%</td><td>$0.159</td></tr><tr><td>Raydium (RAY)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</td><td>+9.74%</td><td>$3.72 </td></tr></tbody></table></figure>



The global cryptocurrency market capitalization stood at $3.85 trillion, falling modestly by 0.02% over the last 24 hours.



<h2 class="wp-block-heading">Nvidia Dips After Earnings</h2>



Stocks inched higher on Wednesday. The Dow Jones Industrial Average jumped 147.16 points, or 0.32%, to end at 45,565.23. The S&amp;P 500 climbed 0.41% to end at a record high of 6,481.40. The tech-focused Nasdaq Composite gained 0.21% to end at 21,590.14.



Artificial intelligence darling Nvidia reported second-quarter financial results <a href="https://www.benzinga.com/markets/earnings/25/08/47371649/nvidia-q2-earnings-highlights-double-beat-60b-share-buyback-huang-says-ai-race-is-on">after market close on Wednesday</a>, with revenue and earnings beating analyst estimates. However, the stock tumbled 3.10% in after-hours trading, dragging down the futures.



<h2 class="wp-block-heading">Altcoins&#8217; Fate Tied To Ethereum</h2>



Arthur Azizov, founder and investor at B2 Ventures, said in a note to Benzinga that the setup for altcoins primarily depends on ETH.



"If it eventually breaks $5,000, altcoins could have 20-30% upside in September. If ETH keeps stalling in the $4,400-4,900 range, we could expect sideways trading with only catalyst-driven moves," Azizov predicted.



The analyst added that if ETH falls below $4,400, even strong altcoins like XRP and Solana risk experiencing 10-15% drawdowns.



Widely followed cryptocurrency analyst Mayne said that Bitcoin's chart looked "totally fine," highlighting potential for a pump if the range lows are reclaimed.



The expert added that there was still plenty of support available. However, they asked to &#8220;reassess&#8221; if Bitcoin falls below the 2024 all-time high, which is somewhere around early $106,000.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Still looks totally fine to me. Reclaim range lows and should pump. If we are gonna pull back deeper still lots of support below. If we start holding below the 2024 ATH then reassess. <a href="https://t.co/vFQTEvd8Co">pic.twitter.com/vFQTEvd8Co</a>&mdash; Mayne (@Tradermayne) <a href="https://twitter.com/Tradermayne/status/1960859231835619659?ref_src=twsrc%5Etfw">August 28, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Photo Courtesy: Shutterstock AI on Shutterstock.com



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Bitcoin Holds Steady While Ethereum, Dogecoin, Solana Climb: Analyst Says Altcoins Could Rally 20%-30% If ETH Does This

Pudgy Penguins has grown from an NFT collection into one of the most well-known crypto brands on the internet and consumer products companies <a href="https://www.benzinga.com/markets/cryptocurrency/23/09/34922268/pudgy-penguins-walmart-debut-marks-huge-step-forward-for-web3-nfts">with products at </a>Walmart, Five Below, Target and on Amazon.com.



The popular brand now heads to the race track this weekend as part of its partnership with NASCAR.



<h2 class="wp-block-heading">Pudgy Penguins at Southern 500</h2>



The <a href="https://www.benzinga.com/general/entertainment/23/11/36032435/amazon-grabs-more-live-sports-rights-with-nascar-deal-why-its-important">NASCAR racing team</a> of HYAK Motorsports, which is the home of driver Ricky Stenhouse Jr. and the #47 Chevrolet car, has shared pictures of what their vehicle will look like for this weekend's Southern 500.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x203c;&#xFE0F;NEW&#x203c;&#xFE0F; Penguin pit crew loading……&#x1f427;<a href="https://twitter.com/hashtag/Southern500?src=hash&amp;ref_src=twsrc%5Etfw">#Southern500</a> <a href="https://twitter.com/hashtag/NASCAR?src=hash&amp;ref_src=twsrc%5Etfw">#NASCAR</a> <a href="https://twitter.com/hashtag/TeamChevy?src=hash&amp;ref_src=twsrc%5Etfw">#TeamChevy</a> <a href="https://twitter.com/hashtag/HyakMotorsports?src=hash&amp;ref_src=twsrc%5Etfw">#HyakMotorsports</a> <a href="https://t.co/GHYxz2Yrfv">pic.twitter.com/GHYxz2Yrfv</a>&mdash; Hyak Motorsports (@HYAKMotorsports) <a href="https://twitter.com/HYAKMotorsports/status/1960351898894053487?ref_src=twsrc%5Etfw">August 26, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



"Pengu looks fast here," Pudgy Penguins tweeted about the image.



Pudgy Penguins also shared more images of the car, which will take the track with Stenhouse behind the wheel.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Pengu looks fast here. See you on the track &#x1f3c1; <a href="https://t.co/6PWCgUl2vI">pic.twitter.com/6PWCgUl2vI</a>&mdash; Pudgy Penguins (@pudgypenguins) <a href="https://twitter.com/pudgypenguins/status/1960794702288183751?ref_src=twsrc%5Etfw">August 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



The race takes place on Sunday, Aug. 31, at 6 p.m. ET with TV coverage coming from USA Network, a media asset owned by Comcast Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMCSA#NASDAQ">CMCSA</a>). Qualifying for the race will take place on Saturday, Aug. 3,0 on truTV.



<h2 class="wp-block-heading">Why It's Important</h2>



The Pudgy Penguins logo and brand on a NASCAR continues the brand's evolution from NFTs into consumer products, merchandise and major partnerships.



"Over 2MM estimated viewers and hundreds of thousand more throughout the weekend in person! We are excited to drive top of the funnel awareness on the biggest stages, and bring Pudgy Penguins to every nook &amp; cranny of the USA," Pudgy Penguins Head of Partnerships Steve Starobinsky tweeted.



Pudgy Penguins announced a partnership with NASCAR back in June and this marks one of the first activations and public showings from the collaboration.



Other cryptocurrencies have been featured on professional race cars in the past including Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), which was featured on a vehicle in NASCAR races in 2021 and on an IndyCar for the <a href="https://www.benzinga.com/general/sports/25/05/45601041/dogecoin-car-to-race-in-indianapolis-500-how-to-watch-bet-on-driver-devlin-defrancesco">2025 Indianapolis 500.</a>



Read Also: <a href="https://www.benzinga.com/markets/cryptocurrency/23/11/35787692/exclusive-pudgy-penguins-the-next-chapter-in-the-ultimate-web3-comeback-story">EXCLUSIVE: Pudgy Penguins — The Next Chapter In The Ultimate Web3 Comeback Story</a>



<h2 class="wp-block-heading">Betting Odds</h2>



Stenhouse Jr. has been a professional driver in NASCAR for 14 years, making his debut in 2011 before joining the league full-time in 2013. Stenhouse Jr. was named the Rookie of the Year in 2013.



Among the accolades for Stenhouse Jr. are winning the 2023 Daytona 500. His last win came in October 2024.



During the 2025 racing season, Stenhouse ranks 29th among NASCAR drivers with 436 points. In 26 races, Stenhouse has zero wins, three top 10 finishes and one top five finish. The driver has an average starting position of 28.385 and an average finishing position of 22.192.



With no wins and a lack of top finishes in 2025, the betting odds pay out significant amounts if the Pudgy Penguins car crosses the finish line first on Sunday.



Here are the latest odds from sportsbook DraftKings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DKNG#NASDAQ">DKNG</a>) for Stenhouse Jr. and the #47 Pudgy Penguin car at the Southern 500:



<ul class="wp-block-list">
<li>Win: +25,000,</li>



<li>Top 3 Finish: +7,000</li>



<li>Top 5 Finish: +3,000</li>



<li>Top 10 Finish: +900</li>



<li>Top Chevrolet Car Finish: +10,000</li>
</ul>



The current betting odds mean that a $1 bet on Stenhouse Jr. to win would pay out a profit of $250 if he wins the race.



Pudgy Penguins have been a major comeback story in the world of NFTs and cryptocurrency since entrepreneur Luca Netz bought the assets, brand and company in April 2022.



<h2 class="wp-block-heading">Pudgy Penguins Token</h2>



Interest has grown in the Pudgy Penguins Coin (CRYPTO: PENGU) in 2025 with the coin<a href="https://www.benzinga.com/crypto/25/07/46590707/if-you-invested-in-pudgy-penguins-token-pengu-at-2025-lows-heres-how-much-youd-have-now"> trading higher in recent months.</a>



The coin trades at $0.03067 at the time of writing, as the 49th largest cryptocurrency with a market capitalization of $1.9 billion.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/24/12/42496442/if-you-invested-1000-in-pudgy-penguins-nfts-at-mint-heres-how-much-youd-have-today">If You Invested $1,000 In Pudgy Penguins NFTs At Mint, Here&#8217;s How Much You&#8217;d Have Today</a></li>
</ul>

Pudgy Penguins Comes To NASCAR: How To Watch Ricky Stenhouse Jr. In Pengu Car, Betting Odds

Cryptocurrency markets are trading higher ahead of Nvidia&#8217;s earnings report.



<figure class="wp-block-table"><table class="has-fixed-layout"><tbody><tr><td>Cryptocurrency</td><td>Ticker</td><td>Price</td></tr><tr><td>Bitcoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td><td>$112,277.69</td></tr><tr><td>Ethereum</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td><td>$4,623.61&nbsp;</td></tr><tr><td>Solana</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td><td>$211.07</td></tr><tr><td>XRP</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td><td>$3.02</td></tr><tr><td>Dogecoin</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td><td>$0.2222</td></tr><tr><td>Shiba Inu</td><td>(CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td><td>$0.00001256</td></tr></tbody></table></figure>



Notable Statistics:



<ul class="wp-block-list">
<li>Coinglass data shows 91,198 traders were liquidated in the past 24 hours for $235.34 million. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>



<li>SoSoValue data shows net inflows of $88.2 million into spot Bitcoin ETFs on Wednesday. Spot Ethereum ET'Fs saw net inflows of $455 million. </li>



<li>In the past 24 hours, the top gainers include Cronos (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">CRO</a>), Four (CRYPTO: FORM) and Jito (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">JTO</a>).</li>
</ul>



Notable Developments:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47364206/bitcoin-must-reclaim-117570-to-avoid-double-top-risk-veteran-trader-says">Bitcoin Must Reclaim $117,570 To Avoid Double Top Risk, Veteran Trader Says</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47354867/commerce-secretary-lutnick-us-gdp-statistics-to-be-published-on-blockchain">Commerce Secretary Lutnick: US GDP Statistics To Be Published On Blockchain</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47355761/stablecoins-could-grow-to-34-trillion-market-arthur-hayes-says">Stablecoins Could Grow To $34 Trillion Market, Arthur Hayes Says</a></li>



<li><a href="https://www.benzinga.com/crypto/25/08/47352771/debanked-and-downtrodden-eric-donald-jr-inspired-creation-of-trump-family-backed-crypto-project-says-co-founder">Debanked And &#8216;Downtrodden&#8217; Eric, Donald Jr. Inspired Creation Of Trump Family-Backed Crypto Project, Says Co-Founder</a></li>



<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47350269/tom-lees-bitmine-a-factor-in-capital-moving-from-bitcoin-to-ethereum-says-this-popular-analyst">Tom Lee&#8217;s BitMine A Factor In Capital Moving From Bitcoin To Ethereum, Says This Popular Analyst</a></li>
</ul>



Trader Notes: IncomeSharks remarked that Bitcoin's price action has become highly predictable, noting that panic usually sets in when support breaks, but that moment often presents the best buying opportunity. 



He highlighted the latest move as a classic diagonal breakdown with a fake dip below support, followed by a sharp rebound.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> &#8211; It&#39;s getting too predictable at this point. You have everyone meltdown for a day when an obvious support breaks. But that&#39;s literally when you bid. Even had the squiggles predicting the diagonal break down, and the fake-out dip below support. <a href="https://t.co/17mP3Q7f5E">pic.twitter.com/17mP3Q7f5E</a>&mdash; IncomeSharks (@IncomeSharks) <a href="https://twitter.com/IncomeSharks/status/1960766397769802145?ref_src=twsrc%5Etfw">August 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Michael van de Poppe <a href="https://x.com/CryptoMichNL/status/1960768883251376601">countered</a> concerns that Bitcoin's bull run is ending, arguing that the traditional 4-year cycle is over. Instead, he sees the market transitioning into longer cycles with extended bullish phases.



Ted Pillows pointed out Bitcoin's weekly rhythm since July, a selloff on Monday, a bottom on Tuesday, and a small rally midweek. This week followed the same script, suggesting a possible pump could be next.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> has had this similar pattern every week since July. Dump on Monday, bottom on Tuesday, followed by a small rally. This week, it happened again, and maybe a pump will follow. <a href="https://t.co/RxfX3D1V4O">pic.twitter.com/RxfX3D1V4O</a>&mdash; Ted (@TedPillows) <a href="https://twitter.com/TedPillows/status/1960686235942576438?ref_src=twsrc%5Etfw">August 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



On the sentiment side, On-Chain College<a href="https://x.com/OnChainCollege/status/1960714010388582753"> advised</a> traders to stay focused on signals rather than noise, reminding that Bitcoin rarely peaks when most of X loudly calls for a cycle top.



Read Next:



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47367436/xrp-bitcoin-or-eth-heres-which-coin-users-predict-to-perform-best-until-2026">XRP, Bitcoin Or ETH? Here&#8217;s Which Coin Users Predict To Perform Best Until 2026</a></li>
</ul>



Image: Shutterstock

Bitcoin, Ethereum, XRP, Dogecoin Up As Market Awaits Nvidia Earnings

Webull Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BULL#NASDAQ">BULL</a>) aims to highlight recent wins in cryptocurrency and its evolution since going public, as the company reports second-quarter financial results on Thursday <a href="https://www.benzinga.com/earnings" target="_blank" rel="noopener">after the </a><a href="https://www.benzinga.com/earnings">market close.</a>



<h2 class="wp-block-heading">Earnings History</h2>



Webull went public in April after <a href="https://www.benzinga.com/fintech/24/02/37365294/webull-to-go-public-with-spac-merger-what-investors-need-to-know">completing a SPAC merger.</a> Shares soared after their debut with the company, among the top trending names among retail traders for weeks after the market debut.



Since going public, shares have pulled back and investors and analysts now look to company announcements and financial results to show the investment case for the company moving forward.



There are no current analyst estimates for the company's second-quarter financial results.



In<a href="https://www.benzinga.com/news/earnings/25/05/45576579/webull-reports-q1-earnings-shares-slide"> the first quarter</a>, Webull reported revenue of $117.37 million, up 32% year-over-year. The company also reported a loss of 6 cents per share, according to data <a href="https://www.benzinga.com/pro/register?utm_adType=bzprocontent&amp;utm_campaign=14daytrial&amp;utm_ad=0827">from Benzinga Pro.</a>



Webull said the revenue growth came from account growth and higher trading volumes. In the first quarter, total customer assets were up 45% year-over-year, with registered users hitting 24.1 million, up 17% year-over-year.



Read Also: <a href="https://www.benzinga.com/markets/earnings/25/08/47304713/retail-investors-top-stocks-with-q2-earnings-this-week-nvidia-webull-iren-and-more">Retail Investors&#8217; Top Stocks With Q2 Earnings This Week: NVIDIA, Webull, IREN And More</a>



<h2 class="wp-block-heading">What to Watch in Q2 Results</h2>



Investors and analysts will be looking for updates on revenue and earnings per share, while other key metrics like assets on the platform and registered users could show healthy growth going forward.



"We will remain focused on broadening our product portfolio, introducing new asset classes, and expanding access to customers globally," Webull U.S. CEO Anthony Denier said after first quarter results.



Cryptocurrency will be a major topic for the company in its results and management commentary. After previously pausing its cryptocurrency trading, Webull re-launched in Brazil in June and recently re-launched in the U.S. this week.



Webull <a href="https://u1sweb.webullfinance.com/us/office/invest-rel/29ef666bf148498c81071d4392b6162e/8.25%20Webull%20Launches%20Crypto%20Trading%20in%20U.S..pdf" target="_blank" rel="noopener">offers </a>cryptocurrency trading in the U.S., featuring more than 50 different cryptocurrencies. The list <a href="https://www.webullpay.com/trade">includes </a>the big names like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) and also popular smaller cryptos like Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), Pudgy Penguin Coin (CRYPTO:PENGU), Official Trump Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">TRUMP</a>) and Pepe Coin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">PEPE</a>).



The U.S. trading platform also allows users to buy and sell stocks, options, and cryptocurrency on the same platform, whereas previously, crypto was a separate app.



The reintroduction of cryptocurrency trading comes with improved regulatory clarity, according to the company. The company said previously that it expects to launch cryptocurrency trading in more markets later this year. Investors and analysts could get an update on that front on Thursday.



<h2 class="wp-block-heading">BULL Price Action</h2>



BULL Price Action: Webull shares were down 2.83% at $14.57 at the time of publication on Wednesday, pulling back 7.28% this month but still up 10.00% since the start of the year. The stock is trading near its 52-week low of $9.53<a href="https://www.benzinga.com/pro/" target="_blank" rel="noreferrer noopener">, according to Benzinga Pro data.</a>



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/07/46526778/webull-stock-slides-on-1-billion-equity-financing-deal-and-dilution-concerns">Webull Stock Slides On $1 Billion Equity Financing Deal And Dilution Concerns</a></li>
</ul>



Photo: gguy/Shutterstock

Webull Q2 Earnings Preview: Can Crypto Relaunch Help Boost Shares?

<a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47336422/donald-trump-jr-reportedly-investing-eight-figures-in-polymarket">A Polymarket trader</a> using the handle "romanticpaul" earned more than $3,000 in profits after correctly wagering on Taylor Swift's engagement to NFL star Travis Kelce just hours before the couple confirmed the news.



According to Polymarket <a href="https://polymarket.com/@romanticpaul?tab=activity">data</a>, the user redeemed 5,180 shares in the market titled "Taylor Swift and Travis Kelce engaged in 2025?" for a payout of $5,180.42. 



Records show the trades were placed within 15 hours of the public announcement, drawing attention due to the narrow timing.



The trader's profile indicates a history of heavy activity on Polymarket, with $1.61 million in total trading volume across 290 markets. 



Despite overall losses of nearly $4,885, this single wager marked one of their most profitable outcomes.



"Romanticpaul" currently holds positions valued at $56,521, spanning markets beyond celebrity news, including Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) price targets, U.S. policy questions, and cultural events. 



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47364206/bitcoin-must-reclaim-117570-to-avoid-double-top-risk-veteran-trader-says">Bitcoin Must Reclaim $117,570 To Avoid Double Top Risk, Veteran Trader Says</a>



Other active bets listed include "Will Ethereum hit $6,000 by December 31?" with thousands of shares placed on both "Yes" and "No" outcomes.



The engagement market is one of many pop culture wagers hosted on Polymarket, which has seen increasing attention this year as trading volumes climb. 



The decentralized prediction platform, built on blockchain, allows users to buy and sell shares tied to real-world events.



Polymarket's model has been praised for harnessing the "wisdom of crowds" but also attracts scrutiny when traders profit heavily from bets placed shortly before major announcements. 



The Swift-Kelce wager is the latest example fueling debate over whether markets sometimes reward insider knowledge or simple timing.



Polymarket has not issued a statement on the matter, and there is no suggestion of wrongdoing. 



The user's trades remain publicly visible through the blockchain-based platform's transparency features.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47355761/stablecoins-could-grow-to-34-trillion-market-arthur-hayes-says">Stablecoins Could Grow To $34 Trillion Market, Arthur Hayes Says</a></li>
</ul>



Image: Shutterstock

Taylor Swift And Travis Kelce Are Engaged—And Polymarket Trader 'Romanticpaul' Predicted It

The Strategic SOL Reserve has released data showing that 13 entities, including public companies and corporate treasuries, collectively hold 8.277 million Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>), equivalent to $1.72 billion at a current price of <a href="https://www.benzinga.com/money/solana-price-prediction#:~:text=Solana's%20price%20in%202025%20is,an%20average%20price%20of%20%24137.59.">$208.15 per SOL</a>.



This represents 1.44% of Solana's total supply, highlighting significant institutional interest in the cryptocurrency. 



Among these holdings, 585,059 SOL, valued at $104.1 million, have been staked, yielding an average return of 6.86%. 



The reserve's dashboard <a href="https://www.strategicsolanareserve.org/">details</a> the breakdown of these holdings, with top entities including Sharps Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STSS#NASDAQ">STSS</a>), holding 3.4 million SOL, and Upexi Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPXI#NASDAQ">UPXI</a>), with 2 million SOL.



Other notable participants include DeFi Development Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DFDV#NASDAQ">DFDV</a>) with 1.42 million SOL and Mercurity Fintech Holding&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MFH#NASDAQ">MFH</a>) with 1.083 million SOL. 



These figures reflect a combined staking reserve that has grown steadily, reaching 8.3 million SOL as of Aug. 27.



Staked SOL has shown a consistent upward trend over the past week, with holdings increasing from 7.7 million SOL on August 20 to 8.3 million SOL by Aug. 27.



This growth underscores the active management of these reserves, with 13 entities contributing to a combined staking pool that represents 0.102% of the total supply. 



The data, updated in real-time, provides a comprehensive view of institutional SOL allocations. 



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47355761/stablecoins-could-grow-to-34-trillion-market-arthur-hayes-says">Stablecoins Could Grow To $34 Trillion Market, Arthur Hayes Says</a>



Individual entity performances vary, with Upexi Inc. reporting a 15.3% increase in USD value to $416.3 million, while DeFi Development Corp saw a 5.2% rise to $295.6 million. 



Sharps Technology Inc. maintains a stable valuation of $445.4 million with no change in the last 30 days. 



These figures are based on live data from the Strategic SOL Reserve's platform. 



The reserve's tracking includes detailed metrics such as market cap, stock price, Solana traditional market cap (MNAV), and the percentage of supply held by each entity. 



For instance, Sharps Technology holds 0.0224% of the total supply, while Upexi Inc. accounts for 0.366868%. 



Staking activities have contributed to a combined reserve value of $104.1 million, with a yield of 6.86%, indicating a strategic approach to generating returns. 



The entities involved range from healthcare and investment firms to biotechnology and public companies, showcasing diverse sectoral interest in Solana. 



The Strategic SOL Reserve's platform also provides a gallery and analytics section, allowing users to explore holdings and trends. 



This aggregation of institutional SOL holdings marks a significant development in Solana's adoption, with the reserve serving as a key resource for tracking these investments. 



The data points toward the growing role of staking in enhancing the network's stability and yield potential.



Read Next: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47354867/commerce-secretary-lutnick-us-gdp-statistics-to-be-published-on-blockchain">Commerce Secretary Lutnick: US GDP Statistics To Be Published On Blockchain</a></li>
</ul>



Image: Shutterstock

Institutions Hold $1.72 Billion In Solana, Strategic Reserve Data Reveals

A poll questioning whether XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>), Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) or Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) will deliver the best return till the end of the year has yielded <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47364206/bitcoin-must-reclaim-117570-to-avoid-double-top-risk-veteran-trader-says">a surprising result</a>.



What Happened: A Santiment poll <a href="https://x.com/santimentfeed/status/1960573503314198654">found</a> XRP leading with 37.5% of responses, followed by Ethereum with 35%. 



Bitcoin came in last with just 12.5%. The results fueled debate among traders and analysts about what could drive the next leg higher.



Trader Nomad said Ethereum could rally to $5,500 within weeks, while investor Paul Barron <a href="https://x.com/paulbarron/status/1960528799688270270">argued</a> that XRP benefits from a unique "inverse sentiment engine." 



According to him, constant criticism from Bitcoin, Ethereum, and Solana communities generates outsized engagement.



This, in turn, attracts new investors and adoption drivers such as Gemini's XRP card and potential XRP treasury companies.



In a separate update, Santiment <a href="https://x.com/santimentfeed/status/1960442918424182864">noted</a> that crypto markets are rebounding steadily, highlighted by growing accumulation: August saw 13 new wallets holding 1,000+ BTC and 48 more holding 10,000+ ETH.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47361803/xrp-will-dip-one-more-time-before-its-cycle-top-analyst-warns">XRP Will Dip One More Time Before Its Cycle Top, Analyst Warns</a>



What's Next: Crypto trader Galaxy pointed out that XRP is testing a critical resistance level on its XRP/BTC pair, a trendline that has capped gains for over six years. A breakout here could push XRP/USD into price discovery.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> Green line has been a resistance on the XRP/BTC pair for over 6 years. But now, looks like the timing is perfect, as breaking out will put us well into price discovery on the USD pair. <a href="https://t.co/NwWDTFRpuy">pic.twitter.com/NwWDTFRpuy</a>&mdash; Galaxy (@galaxyBTC) <a href="https://twitter.com/galaxyBTC/status/1960677726483833162?ref_src=twsrc%5Etfw">August 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Meanwhile, DevKhabib <a href="https://x.com/DevKhabib/status/1960734053511881214">highlighted </a>strong Ethereum bounces that confirm solid support, suggesting ETH may be primed for a move higher, with capital expected to rotate from majors into mid-caps and then low caps over the next six months.



For Bitcoin, analyst Ted Pillows observed the asset sitting on its most important support trendline, in place since Q3 2023. 



BTC briefly lost the level in April 2025 but quickly reclaimed it, a pattern he says could mimic a temporary capitulation before another push toward new all-time highs.



<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"><div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> is now at its most important support trendline. Since Q3 2023, this has acted as a major support level for Bitcoin. In April 2025, BTC lost this level but reclaimed it very soon. Maybe something similar to capitulating before a new ATH. <a href="https://t.co/nkpAielIDZ">pic.twitter.com/nkpAielIDZ</a>&mdash; Ted (@TedPillows) <a href="https://twitter.com/TedPillows/status/1960731712243007958?ref_src=twsrc%5Etfw">August 27, 2025</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div></figure>



Read Next:



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47354933/bitcoin-ethereum-xrp-dogecoin-edge-higher-as-sentiment-stabilizes">Bitcoin, Ethereum, XRP, Dogecoin Edge Higher As Sentiment Stabilizes</a></li>
</ul>



Image: Shutterstock

XRP, Bitcoin Or ETH? Here's Which Coin Users Predict To Perform Best Until 2026

SoFi Technologies Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) is making waves in fintech. Despite a recent dip, Wall Street is divided on its outlook after a series of bold moves. 



JPMorgan and Citigroup <a href="https://www.benzinga.com/trading-ideas/movers/25/08/47271003/sofi-technologies-stock-rally-thursday-what-happened">raised price targets</a>, with Citi reiterating a Buy following SoFi's <a href="https://www.benzinga.com/analyst-stock-ratings/reiteration/25/07/46736111/sofis-loan-platform-shines-in-q2-driving-profitability-and-growth">strong Q2</a>: record revenue of $655.8 million (+26% YoY) and GAAP net income of $54.7 million, alongside an upgraded full-year outlook fueled by robust loan originations and a growing member base. 



SOFI seems to have ample room for growth. <a href="https://www.benzinga.com/quote/sofi">Check its prices live, here.</a>



But SoFi isn't stopping at banking and loans. Last week, it partnered with Lightspark to launch an international crypto-powered money transfer service, starting with Mexico. Using the Bitcoin Lightning Network, users can temporarily convert dollars to Bitcoin and back to local currency—essentially turbocharging remittances.



For ETFs, this dual narrative is intriguing. On one hand, SoFi's growth story could lift fintech funds like Global X FinTech ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FINX#NASDAQ">FINX</a>) and ARK Fintech Innovation ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/ARKF#BATS">ARKF</a>), where SoFi is a notable holding. On the other, the crypto angle makes SoFi a rare bridge between banking and blockchain, potentially benefiting thematic funds like Amplify Transformational Data Sharing ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BLOK#NYSE">BLOK</a>).



Even cryptocurrency-dedicated ETFs such as Bitwise Crypto Industry Innovators ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BITQ#NYSE">BITQ</a>) and VanEck Digital Transformation ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAPP#NASDAQ">DAPP</a>) might experience a ripple. Though they don&#8217;t have SoFi on their holdings, more widespread adoption of Bitcoin infrastructure by traditional players gives validation to the technology and can enhance sentiment toward the blockchain names within those funds.



The catch? SoFi's announcement of a <a href="https://www.benzinga.com/trading-ideas/movers/25/08/47094376/as-share-dilution-concerns-cloud-sofis-capital-raise-its-powerful-growth-story-continues-to-capture-wall-streets-focus">$1.5 billion public share offering</a> to raise capital sparked dilution worries, putting near-term pressure on the stock. For ETFs, this could create volatility, but also buying opportunities for managers bullish on SoFi's longer-term fintech-plus-crypto play.



With the global remittance market worth more than $740 billion (as valued at the end of 2024) and Bitcoin gaining mainstream traction, SoFi's latest steps could influence not just its stock but also the ETFs riding the fintech and crypto waves.



Now Read: 



<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/etfs/specialty-etfs/25/08/47363877/wall-street-warming-up-to-china-again-etfs-to-watch-as-geopolitics-shift">Wall Street Warming Up To China Again? ETFs To Watch As Geopolitics Shift</a></li>
</ul>



Image: Shutterstock

SoFi Switches On Bitcoin's Lightning—What It Means For Crypto ETFs

A recent large sell order in the Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) market has raised concerns among traders, with veteran analyst Peter Brandt highlighting its significance as a supply-driven event that could signal <a href="https://www.benzinga.com/money/bitcoin-price-prediction">a market top</a>.



What Happened: Brandt <a href="https://x.com/PeterLBrandt/status/1960687752808423907">noted</a> on X that Bitcoin needs to exceed $117,570 to negate the formation of a seven-week double top pattern, a technical structure often associated with bearish reversals.



"Tops in markets are created by SUPPLY or DISTRIBUTION," Brandt stated, emphasizing the impact of the sell order while clarifying he remains neutral on Bitcoin's overall outlook. 



The double top pattern, observed over the past seven weeks, suggests Bitcoin's failure to break through key resistance levels, potentially indicating a loss of bullish momentum. 



If Bitcoin fails to surpass $117,570, analysts warn it could confirm the bearish pattern, leading to a possible price correction. 



Recent market dynamics, including profit-taking by long-term holders, align with this cautious outlook, as <a href="https://www.thecoinrepublic.com/2025/01/25/did-bitcoin-hit-a-mid-cycle-top-amid-long-term-holder-sell-pressure/">noted</a> in a CryptoQuant analysis.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47355761/stablecoins-could-grow-to-34-trillion-market-arthur-hayes-says">Stablecoins Could Grow To $34 Trillion Market, Arthur Hayes Says</a>



Why It Matters: Despite technical concerns, Bitcoin's integration into the global financial system continues to grow.



In a note sent to Benzinga, Dom Harz, co-founder of Build on Bitcoin (BOB), highlighted that Bitcoin exchange-traded funds (ETFs) saw $33.6 billion in inflows during Q2, reflecting its shift from a fringe asset to a mainstay in institutional portfolios. 



"It is now deeply embedded in the global financial system, actively allocated and recommended by leading institutions," Harz said. 



Harz also emphasized Bitcoin's evolving role beyond a store of value. 



"The next phase is about everyday utility: everything from enabling everyday transactions and payments, to borrowing stablecoins and other currencies against Bitcoin," he explained. 



He warned that without this shift toward practical utility, Bitcoin risks becoming irrelevant, underscoring the importance of its development as financial infrastructure. 



Market sentiment remains mixed, with some analysts dismissing fears of a double top. 



Swissblock Technologies recently <a href="https://cointelegraph.com/news/bitcoin-bears-analysis-dismisses-btc-price-double-top">argued</a> that Bitcoin's price strength remains intact, with on-chain indicators showing no bearish divergence.



However, others, like Jacob King of WhaleWire, <a href="https://bitcoinist.com/bitcoin-bull-market-is-over/">point</a> to historical double top patterns in 2017, 2019, and 2021 that preceded significant corrections, fueling concerns of a potential downturn.



A decisive move above $117,570 could signal renewed bullish momentum, with some analysts eyeing targets as high as $125,000.



Read Next: 



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47354867/commerce-secretary-lutnick-us-gdp-statistics-to-be-published-on-blockchain">Commerce Secretary Lutnick: US GDP Statistics To Be Published On Blockchain</a></li>
</ul>



Image: Shutterstock

Bitcoin Must Reclaim $117,570 To Avoid Double Top Risk, Veteran Trader Says

XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>) appears to be in the final stages of <a href="https://www.benzinga.com/money/ripple-xrp-price-prediction">its bull run</a> but could retest bull market support band ahead of a top, according to a prominent analyst.



What Happened: Benjamin Cowen stated in his latest podcast that XRP could correct in September. 



He expects the token to test its bull market support band around $2.60–$2.70, like in previous cycles.



While XRP has rallied from a double-bottom formation against Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), Cowen notes that its Satoshi valuation remains at the same levels as August 2021, underscoring its long-term sideways trend relative to BTC. 



He highlights that XRP's risk metric has repeatedly spiked into the 0.8–0.9 range, where rallies have historically failed, and warns that if it pushes into the extreme 0.9–1.0 zone in the coming months, that will likely mark the cycle top.



Historical precedent reinforces caution, as XRP has previously suffered 60%–80% drawdowns during bear markets, and a similar correction is expected in 2026.



Also Read: <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47354933/bitcoin-ethereum-xrp-dogecoin-edge-higher-as-sentiment-stabilizes">Bitcoin, Ethereum, XRP, Dogecoin Edge Higher As Sentiment Stabilizes</a>



Why It Matters: Cowen added that September often brings a shift in Bitcoin dominance, which could pressure XRP/BTC as liquidity rotates back into Bitcoin. 



Still, he acknowledges XRP's improved relative strength this cycle, with the token printing higher highs compared to its 2020–2021 performance.



His framework suggests a September pullback, followed by a potential October bounce toward final cycle highs, though he cautions against chasing "crazy" late-cycle price targets.



For XRP holders, risk management is critical: if the token fails to reach extreme risk levels by year-end, it likely won't this cycle.



Longer term, Cowen emphasizes measuring performance in Satoshis rather than dollar, reminding investors that most altcoins tend to bleed back to Bitcoin across cycles.



Read Next:



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<li><a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47339935/xrp-holds-strong-around-3-is-a-breakout-brewing">XRP Holds Strong Around $3: Is A Breakout Brewing?</a></li>
</ul>



Image: Shutterstock

XRP Will Dip One More Time Before Its Cycle Top, Analyst Warns

Long term holders of the Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>) cryptocurrency have had a great five years, up over 5,000% to Ethereum's (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>) 1,000% gain. This year has been more lackluster for SOL. But its underperformance should entice investors looking to diversify their blockchain holdings away from an overweight in ETH. Solana has legs. Industry players all seem to like it.



&#8220;Solana has capitalized on something we at Dash recognized back in 2015: users demand a ‘just works' experience," said Joel Valenzuela, a core member of Dash DAO based in New Hampshire.  By ‘just works' Valenzuela means developers are looking for an easy to use blockchain that does what it was built to do. In other words, it is user friendly.



Solana's native coin has trailed Ethereum this year, the godfather of all blockchains. Ethereum approached its 2021 high of $4,422 last week. It's trading at around $4,200 currently.&nbsp;



Ethereum has gotten too comfortable with its market lead in the blockchain space, some critics charge. This, of course, paved the way for the big alternative layer one blockchains like Solana, Cardano, and others. "They've made excuses for why they can&#8217;t offer the same fast, low-cost, permissionless experience to all of their users," said Valenzuela.&nbsp;



<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
"Solana has been more than happy to step in and do their job for them. Let this be a lesson to the rest of the space: you adapt or you will die.&#8221; &#8212; Joel Valenzuela, Dash DAO.








</blockquote>



<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="556" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/25155043/SOLUSDT_2025-08-22_15-16-23-1024x556.png" alt="" class="wp-image-17859" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/25155043/SOLUSDT_2025-08-22_15-16-23-1024x556.png 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/25155043/SOLUSDT_2025-08-22_15-16-23-300x163.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/25155043/SOLUSDT_2025-08-22_15-16-23-768x417.png 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/25155043/SOLUSDT_2025-08-22_15-16-23.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Ethereum had been underperforming Solana and Cardano in the first half, then took off in July.</figcaption></figure>



<h2 class="wp-block-heading">Ethereum Does Not Offer This</h2>



Solana is a high-performance, public blockchain that was launched in March 2020 by Solana Labs, co‑founded by Ukrainian-born Anatoly Yakovenko and Raj Gokal.  Gokal became famous in May when cyber thieves <a href="https://www.benzinga.com/content/45611044/hackers-leak-solana-co-founders-private-data-via-rapper-migos-instagram">tried extorting him for 40 BTC</a>, a fortune in dollar terms. 



The Solana blockchain can handle around 2,600 transactions per second, compared to Ethereum's approximate 15. Solana also has lower fees. For long term investors, Solana typically offers higher staking yields of <a href="https://www.stakingrewards.com/asset/solana/analytics">6.8% </a>per year, according to Staking Rewards – versus Ethereum's current yield of <a href="https://www.stakingrewards.com/asset/ethereum-2-0/analytics">3%</a>



Some traditional Institutions are using Solana tech for tokenization of assets like stocks and bonds.&nbsp;



A landmark <a href="https://www.benzinga.com/25/05/45589084/solana-rallies-as-r3-partnership-signals-institutional-shift-sol-doge-bridge-introduced">deal with fintech firm R3 in May</a> means traditional financial giants—HSBC, Bank of America, Euroclear, and the Monetary Authority of Singapore—can integrate Solana's blockchain into their operations for tokenization of traditional securities or faster transaction settlements.&nbsp;



PayPal (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) chose Solana for its stable coin in 2024.



"Solana's push into consumer apps aims towards a structural shift. As the chain builds out vertically integrated user experiences, from Blinks to mobile, we're seeing real utility drive organic on-chain activity," said Martins Benkitis, CEO and Co-Founder of Gravity Team, a market maker and liquidity provider for digital asset traders based in Latvia.



"Blinks" are blockchain links that let people embed Solana transactions directly into any web link, such as a link to X, Discord, or an email. Solana launched the Saga in 2023, an Android smartphone built by Solana Mobile, a subsidiary of Solana Labs, in partnership with the <a href="https://www.benzinga.com/content/40750857/osom-products-to-cease-business-after-just-one-smartphone-release">now defunct Cupertino start-up OSOM.</a> The phone is explicitly designed for Web3.



"For market makers like us, it signals a future where liquidity needs to be as dynamic and accessible as the apps themselves," Benkitis said. We&#8217;re leaning into Solana because we see that when infrastructure meets adoption, that&#8217;s where sustainable markets are built."&nbsp;



Solana is "becoming the iOS of crypto," said Pete Carroll, co-founder chief operating officer for the Coral Protocol in the U.K. "They have this vertically integrated stack built for user-first experiences. Their support for consumer applications like phones and retail, cryptocurrency wallets, reflects a seamless blend of hardware and software. Solana isn't just scalable, it's usable."



The Coral Protocol is built on Solana. Coral wants to position itself as a solution that is foundational to the emerging "Internet of Agents"—an interconnected, autonomous AI system.



<h2 class="wp-block-heading">SOL For Retailers. Even Trump Is In On It.</h2>



Retail investors do not need to open a cryptocurrency account on-chain (think Coinbase, for example) to invest in Solana's future.



The ProShares Ultra Solana ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLON#NYSE">SLON</a>) is a risky, double leveraged fund that invests in Solana futures contracts. It launched this year. <a href="https://coincentral.com/solana-etf-launches-with-a-twist-what-proshares-just-released/?utm_source=chatgpt.com"> </a>



For the more risk averse, the REX Osprey Solana + Staking ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/SSK#BATS">SSK</a>) is a spot Solana investment with "dividend" interest, or staking as it is known in the crypto universe. Staking requires investors to lock in their positions and not sell. Like most funds, this one will charge a fee to investors.



Meanwhile, the Securities and Exchange Commission is <a href="https://www.benzinga.com/content/44313422/solana-etf-filling-hits-sec-could-sol-rally-to-1-000">reviewing </a>more spot-SOL ETF approvals from Fidelity, <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47289454/vaneck-files-for-first-jitosol-etf-expanding-solanas-presence-in-us-crypto-markets">VanEck</a>, <a href="https://www.benzinga.com/markets/cryptocurrency/24/06/39555344/21shares-becomes-the-next-fund-filing-for-a-solana-spot-etf">21Shares</a> and Franklin Templeton to name a few.



Trump Media filed with the SEC for a <a href="https://www.benzinga.com/crypto/cryptocurrency/25/07/46298615/trump-medias-new-crypto-blue-chip-etf-filing-comes-with-a-twist">"Crypto Blue Chip"</a> ETF that would include SOL in the fund.



"Solana can offer fast, secure, and user-friendly trading," said Nicolas Remond, chief technology officer at SwissBorg<a href="https://www.benzinga.com/quote/BORG-USD"> (BORG)</a>, a wealth management platform in Lausanne, Switzerland. "To me, Solana isn't just a faster blockchain. It is becoming a fully integrated platform that is trusted, that is scalable, and is increasingly recognized by traditional financial institutions," he said.



Contributor Disclosure: The writer intends to buy and hold either SOL or one of the Solana ETFs in the weeks ahead.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

Solana's Underperformance This Year Vs. Ethereum Offers A Buying Opportunity

<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="768" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26171051/Kevin-OLeary-high-res-4x3-8.26.25-1024x768.jpg" alt="" class="wp-image-17927" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26171051/Kevin-OLeary-high-res-4x3-8.26.25-1024x768.jpg 1024w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26171051/Kevin-OLeary-high-res-4x3-8.26.25-300x225.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26171051/Kevin-OLeary-high-res-4x3-8.26.25-768x576.jpg 768w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26171051/Kevin-OLeary-high-res-4x3-8.26.25.jpg 1140w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">&#8220;Shark Tank&#8221; investor and entrepreneur, Kevin O&#8217;Leary. Used with permission.</figcaption></figure>



Bitcoin has dipped below $110,000 as macro conditions cool its recent all-time run, which topped $124,000 per coin earlier this month. Even at current levels the price is up more than 40% over the past six months and more than 105% from a year ago. Some investors are <a href="https://www.benzinga.com/crypto/cryptocurrency/25/08/47301069/bitcoin-not-rising-quickly-enough-analyst-says-early-hodlers-could-be-the-reason">chasing the Bitcoin price action</a>. Kevin O'Leary isn't.



He's investing in the infrastructure behind it.



"I like to always be invested in the picks and shovel," O'Leary said. "And Bitzero is exactly that."



The "Shark Tank" investor and outspoken entrepreneur didn't hedge his words during a recent interview about why he's backing Bitzero, a bitcoin mining and energy-infrastructure firm led by Mohammed &#8220;Mo&#8221; Bakhashwain, a Saudi entrepreneur with roots in both real estate and crypto.



O'Leary sees Bitzero as a two-way bet: a margin-heavy miner today and a data center powerhouse for AI tomorrow.



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="891" height="716" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26165724/kevin-OLeary-call-image-6.6.25.jpg" alt="" class="wp-image-17923" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26165724/kevin-OLeary-call-image-6.6.25.jpg 891w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26165724/kevin-OLeary-call-image-6.6.25-300x241.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26165724/kevin-OLeary-call-image-6.6.25-768x617.jpg 768w" sizes="(max-width: 891px) 100vw, 891px" /><figcaption class="wp-element-caption">Zoom call with Bitzero investor Kevin O&#8217;Leary, Bitzero CEO Mohammed Bakhashwain, and the article author Tor Constantino.</figcaption></figure>



<h2 class="wp-block-heading">Real Estate Plus Revenue</h2>



Bakhashwain studied real estate development in London while building a crypto portfolio on the side. That intersection—real assets plus emerging tech—eventually led to the formation of Bitzero.



Today the company operates a 40-megawatt mining facility in Norway powered entirely by hydroelectric energy. It's expanding another 70 megawatts at the same site and recently acquired three more locations, including one in Finland running on nuclear and one in North Dakota built inside a Cold War–era nuclear missile silo.



"We build our infrastructure with [AI] in mind," Bakhashwain said. "If it's the right time to take on an AI client, we're able to do that very quickly."



<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="977" height="733" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26170951/Mo-Headshot.jpg" alt="" class="wp-image-17926" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26170951/Mo-Headshot.jpg 977w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26170951/Mo-Headshot-300x225.jpg 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/08/26170951/Mo-Headshot-768x576.jpg 768w" sizes="(max-width: 977px) 100vw, 977px" /><figcaption class="wp-element-caption">Bitzero CEO Mohammed Bakhashwain. Used with permission.</figcaption></figure>



Right now, though, mining bitcoin still pencils out.



"Our break-even today floats around $60,000," he said. "Our EBITDA is more or less 50% of our revenues."



Many miners are struggling to stay profitable at current prices. Some are <a href="https://cryptoslate.com/bitcoin-mining-costs-soar-47-to-137k-in-q4-amid-rising-input-costs-tax-liabilities/?utm_source=chatgpt.com" rel="nofollow">reporting break-evens above $100,000</a>. Bitzero is already generating cash and, Bakhashwain said, gearing up to go public.



<h2 class="wp-block-heading">Why O'leary Invested in Bitcoin &amp; AI Infrastructure</h2>



O'Leary said his involvement dates back to Bitzero's original plans to develop a mining facility in upstate New York, before shifting to more favorable political and economic conditions in Norway.



"New York has great restaurants," he said, "but you don't have to invest there."



His reasons for backing Bitzero are direct: it's a real estate play. It's an energy play. And it's led by someone he trusts.



"I concern myself on political risk, permitting risk, pricing risk," O'Leary said. "But the trend is your friend on all of those right now. Bitzero has power. Bitzero has a great CEO."



He sees the AI data center opportunity as a real estate problem masquerading as a compute problem. "If you don't have the power, you have nothing," he said.



<h2 class="wp-block-heading">AI, Power, and the Problem of Supply</h2>



The <a href="https://www.statista.com/statistics/1228433/data-centers-worldwide-by-country/" rel="nofollow">U.S. has more than 5,400</a> data centers. <a href="https://www.ib.barclays/our-insights/3-point-perspective/AI-power-energy-demand.html?gad_source=1&amp;gclid=Cj0KCQjwr9m3BhDHARIsANut04bluTOde8bPGH3LGsagmNuXDKIh1ud0zllySE58SVYmvlYCq9KveVYaAuMKEALw_wcB&amp;gclsrc=aw.ds" rel="nofollow">That won't be enough</a>.



"AI data centers demand internationally is about 225 gigawatts. Domestically in the U.S., 45 gigawatts. But there's only five gigs under construction," O'Leary said.



The bottleneck? Power.



"There&#8217;s no power left on the grid," he said. "And the demand for AI is now."



That's why O'Leary is also backing a 7.4-gigawatt data center project in Grand Prairie, Alberta. It sits atop the largest stranded natural gas reserve in North America. "This is the most complex real estate I've ever been involved in," he said.



Bakhashwain sees a similar opportunity for Bitzero.



"I'd like it to be like a hybrid of the largest data center developers—let's say Equinix and Marathon," he said. "That way we have exposure to the best of both worlds."



<h2 class="wp-block-heading">Not Betting on Decentralization—Yet</h2>



Both O'Leary and Bakhashwain are bullish on bitcoin and AI. <a href="https://www.benzinga.com/markets/cryptocurrency/25/05/45373837/bittensor-backer-sees-its-tao-token-topping-62-500-in-2030-from-400s-today">But decentralized AI? Not in the near-term.</a>



"I haven't had a single tenant ask me about it," O'Leary said. "The concurrent latency is not ready for the highest level of AI compute."



Bakhashwain agreed. "No one will spend that kind of CapEx to create the decentralized network," he said.



For now, Bitzero is mining with cheap power, laying pipes for future AI workloads, and staying focused on tenants' demands.



And with bitcoin above $109,000, Bitzero's break-even around $60,000, and a potential IPO in the works, O'Leary's infrastructure bet looks well-timed.



Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga&#8217;s reporting and has not been edited for content or accuracy.

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