Crypto
crypto
Yaël Bizouati-Kennedy
3/28/25

Bitcoin sinks, taking Strategy and others with it

Bitcoin’s started the week over $87,000, but is ending the week down, with the price dropping roughly 3% today to about $84,000. This seems to be dragging down bitcoin-holding company Strategy, which is down over 6% as of 11:45 a.m. ET. Earlier this week, Strategy CEO Michael Saylor announced that the company now holds more than half a million bitcoin (506,137 bitcoin to be precise), or 2.4% of the total bitcoin supply.

US crypto exchange Coinbase and retail trading app Robinhood are also slumping as the broader crypto market flashes red, with ethereum and XRP dropping over 5%. 

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company.)

There were hopes that the price of bitcoin could reach new highs this week, after GameStop announced a bitcoin reserve. These hopes didn’t last long, as GameStop crashed after it announced a $1.3 billion private offering of convertible senior notes, which traders absolutely hated.

Trump Media & Technology Group’s announcement that it had partnered with Crypto.com to launch several crypto ETFs via the Truth.Fi fintech brand didn’t push bitcoin or overall crypto prices higher, either.

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