Bitcoin Surges Above $63K as Coldcard Losses Near $89M

Bitcoin surged past $63,000 while a Coldcard hardware wallet flaw has driven losses close to $89 million.

Coldcard Collapse: $89 Million at Stake

A firmware bug in Coldcard wallets resulted in the theft of 1,367 BTC (roughly $89 M). The breach began on July 30, with 1,196 wallets compromised in 41 minutes, siphoning 1,083 BTC, then targeting smaller balances.

■1,367 BTC lost ($89 M)

■208 BTC third‑wave outflow

■4,585 distinct addresses withdrew funds

■Root cause: March 2021 firmware update using a predictable software RNG

Corporate Bitcoin Moves: Trump Media & MSTR

Trump Media & Technology Group (NASDAQ:DJT) sold 2,628 BTC (≈ $165 M) while Strategy Inc. (NASDAQ:MSTR) boosted its dividend by 12%. The remaining 4,260.73 BTC are pledged as collateral until May 2028.

■2,628 BTC sold ($165 M)

■7,281 BTC total sold ($1.37 B cost basis)

■4,260.73 BTC locked as collateral

■MSTR shares trading at $89.46 (recovered from $71 in June)

Altcoin Landscape: Ethereum to Meme Tokens

Bitcoin’s rally nudged altcoins higher. Ethereum rose 0.15% to $1,870.90, XRP climbed 2.06% to $1.0830, Cardano surged 9.36%, and Dogecoin posted a modest 0.62% gain.

■Ethereum: +0.15% → $1,870.90

■XRP: +2.06% → $1.0830

■Cardano: +9.36%

■Dogecoin: +0.62%

Cem Talu Analysis: The exposure of Coldcard’s vulnerability may intensify regulatory scrutiny on crypto security and temper institutional appetite for risk. Nonetheless, continued corporate disposals and Spot Bitcoin ETF inflows provide a supportive demand backdrop, likely keeping price trends stable in the medium term. This environment could align MSTR’s equity performance with Bitcoin’s trajectory, making dividend yields and BTC‑backed collateral positions key watchlists for investors.