Bitcoin Returns to Technical Bull Market! Strategy(MSTR) Rebounds Nearly 50%—Who Are the Other Crypto "Whales" in US Stocks?
Strategy MSTR | 0.00 | |
Cantor Equity Partners XXI | 0.00 | |
MARA Holdings MARA | 0.00 | |
Bullish BLSH | 0.00 | |
Strive ASST | 0.00 |
Driven by a compounding US debt crisis and a massive short squeeze across crypto markets, Bitcoin surpassed $80,000 for the first time since May, logging a monthly gain of nearly 30%. This move officially marks a entry into a "technical bull market," snapping an extended downward trend.
Wall Street heavyweights and institutions are increasingly vocal about the sustainability of this rally. Below is an overview of the key macro drivers, price targets, and the largest crypto-holding companies in US equities.
Top Crypto Treasury "Whales" in US Equities
As the world's leading Bitcoin corporate holder, Strategy(MSTR.US) (Strategy) surged over 47% in August—outperforming Bitcoin itself—and helping the company rebound from prior liquidity pressures and debt concerns. Aside from Strategy, dozens of corporate treasuries directly benefit from the expanding book value of their digital assets.
| Company / Ticker | Crypto Asset | Holdings | Aug Gain |
|---|---|---|---|
| Strategy(MSTR.US) (Strategy) | Bitcoin | 840,447 BTC | +47.3% |
| Cantor Equity Partners(XXI.US) | Bitcoin | 43,514 BTC | +48.0% |
| MARA Holdings(MARA.US) | Bitcoin | 35,577 BTC | +4.86% |
| Bullish(BLSH.US) | Bitcoin | 22,000 BTC | +54.0% |
| Strive(ASST.US) | Bitcoin | 21,356 BTC | +108.1% |
| BitMine Immersion Technologies(BMNR.US) (BitMine) | Ethereum | 5,847,611 ETH | +48.3% |
| SharpLink Gaming(SBET.US) (Sharplink) | Ethereum | 890,376 ETH | +45.1% |
| Bit Digital, Inc.(BTBT.US) | Ethereum | 162,080 ETH | +21.4% |
| Coinbase(COIN.US) (Coinbase) | Ethereum | 150,193 ETH | +30.4% |
| BTCS(BTCS.US) | Ethereum | 55,064 ETH | +54.4% |
Data source: bitcointreasuries.net (as of Aug 28, 2026).
Macro Drivers & Institutional Outlook
US Debt Concerns: With total US public debt surpassing $40 trillion, analysts at BlackRock note that persistent fiscal deficits and inflation expectations are driving investors toward hedges like Bitcoin and gold. Ray Dalio of Bridgewater Associates similarly advised holding Bitcoin to hedge against US debt risks.
Capital Inflows & Short Squeezes: A significant portion of the recent run-up was propelled by forced liquidations of leveraged short positions. Additionally, BlackRock's spot ETF ($IBIT) recorded over $2.6 billion in net inflows across eight consecutive sessions.
Wall Street Price Targets
Bernstein: Declares the crypto bear market over. Sets a base case target of $125,000 by year-end 2026 (driven by institutional adoption) and a bull case target of $500,000 by 2030.
Standard Chartered: Notes that the $100,000 year-end target may be too conservative, forecasting a potential move toward the record peak of $126,000 as ETF inflows continue to recover.
Key Investment Vehicles & Related Assets
Stablecoin Issuers & Crypto Exchanges
| Category | Company / Ticker | Key Thesis | Aug Gain |
|---|---|---|---|
| US Stock | Circle(CRCL.US) | World's sole publicly listed major stablecoin issuer | +50.5% |
| US Stock | Coinbase(COIN.US) | Leading regulated native crypto exchange in the US | +30.4% |
| US Stock | Robinhood(HOOD.US) | Retail brokerage offering crypto trading | +26.8% |
| US Stock | Galaxy Digital Inc. Class A(GLXY.US) | Institutional crypto financial service provider | +20.4% |
| US Stock | Bakkt Holdings(BKKT.US) | Institutional spot, futures, and custody platform | +17.4% |
Key ETFs to Watch
US Spot BTC ETFs: Shares Bitcoin Trust(IBIT.US) , Fidelity Wise Origin Bitcoin Fund(FBTC.US) , Grayscale Bitcoin Trust ETF(GBTC.US) , ARK 21Shares Bitcoin ETF(ARKB.US) , Bitwise Bitcoin ETF Trust(BITB.US)
US Futures / Leveraged BTC ETFs: ProShares Bitcoin Strategy ETF(BITO.US) , Volatility Shares 2x Bitcoin ETF(BITX.US) (2x), ProShares Ultra Bitcoin ETF(BITU.US) (2x Bull), The ProShares Short Bitcoin Strategy ETF(BITI.US) (1x Short), ProShares UltraShort Bitcoin ETF(SBIT.US) (2x Inverse)