Bitcoin Magazine

Bitcoin Price Rebounds to $109,000 After ‘Uptober’ Disappointment, Traders Eye November Bounce

Bitcoin price has rebounded slightly to $109,600 after yesterday’s dip to $106,000, ending what has been a tumultuous October for bitcoin.

Traders are now cautiously optimistic as the market transitions from the failed “Uptober” rally to the historically stronger month of November.

Yesterday, Bitcoin tumbled over 3% amid renewed risk-off sentiment sparked by Federal Reserve Chair Jerome Powell’s hawkish comments on future rate cuts and renewed U.S.–China trade tensions. 

The dip extended a week-long decline that began after the Fed delivered a modest 25 basis point cut but signaled uncertainty for December’s meeting.

Bitcoin price had a disappointing October

Bitcoin entered October with high hopes for “Uptober,” a seasonal trend historically associated with double-digit gains. 

Early in the month, Bitcoin briefly touched $125,000, only to give back much of those gains amid macroeconomic jitters and slow institutional activity. On October 10, the bitcoin price dropped sharply to the $108,000 range from $117,000 as the U.S.-China trade tensions and new tariffs triggered a market-wide sell-off. 

At its lowest, Bitcoin fell about 10% on that day and other cryptocurrencies dropped 20–40%, though it later rebounded to around $113,000 amid high volatility.

Strategy (MSTR), one of the largest Bitcoin accumulators, bought just 778 BTC in October — down 78% from September — bringing its total holdings to over 640,000 BTC.

JUST IN: #Bitcoin is about to enter into it's highest performing month on average

Bullish on November pic.twitter.com/GTDUSGIhQd

— Bitcoin Magazine (@BitcoinMagazine) October 31, 2025

Altcoins mirrored Bitcoin’s struggle this month. At times, Ethereum fell below $3,790, while Solana dipped under $187. Despite the weakness, Bitcoin dominance remains steady at roughly 57%, suggesting the market is consolidating rather than capitulating.

Bitcoin price rebound in ‘Moonvember?’

Looking ahead, traders are turning their attention to next month, November — sometimes nicknamed “Moonvember” — which historically follows strong October performances. 

Despite macroeconomic pressures, some analysts see potential for Bitcoin to retest all-time highs going into 2026, assuming stable Fed guidance, renewed inflows, and no new shocks.

That being said, bitcoin has traded in an unusually tight range between $106,000 and $123,000 for over four months, pushing volatility to record lows, a pattern that historically precedes major trending moves. 

If past fractals repeat, Bitcoin could see significant gains toward $170,000–$180,000 by and through  2026, though sideways trading may persist until macro catalysts like Fed rate cuts or capital rotation spur renewed volatility.

This post Bitcoin Price Rebounds to $109,000 After ‘Uptober’ Disappointment, Traders Eye November Bounce first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Steak ’n Shake Launches First-Ever Strategic Bitcoin Reserve

Steak ’n Shake is making history as the first major restaurant to establish a Strategic Bitcoin Reserve. 

All payments received in Bitcoin will now be added to their Strategic Bitcoin Reserve (SBR), marking a fun and major step into bitcoin adoption for the fast-food chain.

As part of the initiative, the company will donate 210 sats from every Bitcoin Meal sold to the Open Sats Initiative, Inc. over the next 12 months. 

Customers who purchase and register their Bitcoin Steakburger through the Fold App will also receive $5 in free Bitcoin, with instructions provided on their receipts.

The move comes on the heels of a strong quarter, with same-store sales up 15% — outpacing all competitors — highlighting the growing impact of cryptocurrency engagement on the restaurant’s bottom line.

JUST IN: Fast food giant Steak 'n Shake announces its created a Strategic #Bitcoin Reserve

They're also donating to open source bitcoin development pic.twitter.com/Mod3XDfMX8

— Bitcoin Magazine (@BitcoinMagazine) October 31, 2025

Steak ‘n Shake partners with Fold

Earlier today, the company and Fold Holdings launched a limited-time promotion at more than 1,200 Steak ’n Shake locations, letting customers earn $5 in bitcoin with their Bitcoin Meal or Bitcoin Steakburger.

Diners simply upload their receipt to bitcoinmealdeal.com, redeem a code through the Fold app, and instantly receive their reward. 

The promotion marks the first U.S. restaurant menu item tied to bitcoin rewards, with the Bitcoin logo even stamped on the burger bun as a nod to mainstream adoption. 

The campaign coincides with the 17th anniversary of the Bitcoin white paper and builds on Steak ’n Shake’s earlier adoption of Lightning Network payments. 

Fold, which holds roughly 1,500 BTC, continues expanding its bitcoin rewards ecosystem.

Bitcoin improving payment speed

At the Bitcoin 2025 Conference, Steak ‘n Shake executive Dan Edwards highlighted the company’s global adoption of Bitcoin payments via the Lightning Network. 

He noted that Bitcoin transactions immediately exceeded expectations, with one in every 500 global Bitcoin transactions occurring at Steak ‘n Shake on launch day

Edwards said that accepting Bitcoin reduced processing fees by 50%, benefiting both the company and customers. 

He stressed that the initiative was a genuine payment upgrade, not a marketing stunt, and reported that customer behavior had shifted positively since implementation. 

Steak ‘n Shake reported that customer behavior has already shifted. “We’ve seen a sustained spike since adding Bitcoin,” Edwards noted. 

Edwards also teased the company’s future plans, calling for more technical talent. “We’re not done. We’re investing in cyber chefs, autonomous drives, AI tech — and we need engineers to help us build it.” 

This post Steak ’n Shake Launches First-Ever Strategic Bitcoin Reserve first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Prenetics Spends $11 Million to Add 100 Bitcoin to Treasury

Prenetics Global Limited (NASDAQ: PRE) announced the purchase of 100 bitcoin at an average price of $109,594, expanding its total holdings to 378 BTC — valued at roughly $41 million. 

The move comes just days after the health sciences company completed a $44 million equity offering that was oversubscribed by strategic investors including Kraken, Exodus, GPTX by Jihan Wu, XtalPi, DL Holdings, and tennis champion Aryna Sabalenka.

“This 100 Bitcoin acquisition demonstrates our immediate execution on the strategic vision we outlined to investors,” said CEO Danny Yeung, highlighting Prenetics’ dual focus on scaling its wellness brand IM8 and building long-term value through bitcoin accumulation.

Following the acquisition and equity raise, Prenetics holds $127 million in total liquidity with no debt—$86 million in cash and $41 million in bitcoin. The company continues to purchase one bitcoin per day, supplementing that with opportunistic larger buys.

Yeung noted that IM8 has reached $100 million in annual recurring revenue in just 11 months, calling it the fastest growth in the supplement industry’s history. Prenetics aims to expand IM8 globally while strengthening its bitcoin treasury as a core balance sheet asset.

Prenetics as a Bitcoin treasury company

For context, Prenetics made headlines earlier this year by becoming the first healthcare firm to implement a Bitcoin treasury strategy. The company initially purchased $20 million worth of BTC, acquiring 187.42 coins at an average price of $106,712, with plans to allocate the majority of its $117 million balance sheet to Bitcoin.

Since then, Prenetics has executed a disciplined accumulation plan, purchasing roughly one bitcoin per day since August 1, 2025, and now holds about 275 BTC, valued at $31 million as of late October. 

The strategy is part of a broader effort to combine its fast-growing supplement brand, IM8 — which reached $100 million ARR in under a year — with long-term cryptocurrency holdings.

The company has also strengthened its leadership and advisory team, appointing former OKEx COO Andy Cheung to the board and engaging industry experts from Kraken and TOKEN2049. 

The firm’s dual focus on health supplements and Bitcoin accumulation underscores its ambition to reach $1 billion in annual revenue alongside $1 billion in Bitcoin holdings over the next five years, highlighting the growing intersection of healthcare and cryptocurrency innovation.

Back in 2024, former footballer David Beckham became a strategic investor in Prenetics and co-founded IM8, citing his focus on advanced consumer health products. 

Beckham also engaged with shareholder Professor Dennis Lo, learning about his pioneering prenatal testing work and early cancer detection focus, reinforcing the potential impact of Prenetics’ innovations on global health.

This post Prenetics Spends $11 Million to Add 100 Bitcoin to Treasury first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

Bitcoin Magazine

Steak ’n Shake Partners With Fold to Launch $5 Bitcoin Burger Reward

Fold Holdings (NASDAQ: FLD), the bitcoin rewards company known for letting users earn sats on everyday purchases, has teamed up with iconic fast-food chain Steak ’n Shake for a limited-time promotion that lets customers earn $5 in bitcoin with their meal.

Starting today, Steak ’n Shake diners who order a Bitcoin Meal or Bitcoin Steakburger at one of the 1,200+ participating Steak ’n Shake locations can visit bitcoinmealdeal.com, upload their receipt, and receive a code redeemable for $5 in bitcoin through the Fold app. 

Once the Fold app is downloaded and activated, the reward is instantly credited. The partnership marks the first time a U.S. restaurant chain has paired a menu item with bitcoin rewards, blending food, finance, and pop culture in a single bite.

Even the bun carries a message: it’s stamped with a Bitcoin logo, a subtle but unmistakable symbol of how far the orange coin has traveled into mainstream consciousness.

“Bitcoin goes mainstream when it starts showing up in everyday life,” said Fold Chairman and CEO Will Reeves in a note to Bitcoin Magazine. “That’s been our vision from the beginning, and our promotion with Steak ’n Shake is the next step in that journey. For many people, this will be the first time they ever own bitcoin — and it’ll come from something as ordinary as grabbing a burger.”

Steak ‘n Shake loves bitcoin

For Steak ’n Shake, the partnership deepens its ongoing relationship with the Bitcoin community. 

Earlier this year, the 90-year-old chain rolled out Lightning Network payments across all U.S. locations, allowing customers to pay for meals using bitcoin with instant, low-fee transactions. 

The company even sparked headlines when it publicly scrapped plans to accept Ethereum, declaring its “allegiance” to Bitcoiners.

Now, it’s taking that loyalty a step further.

“Steak ’n Shake has never been afraid to take a bold position, and putting bitcoin on the menu is the latest example,” said Sardar Biglari, CEO of Steak ’n Shake. “Bitcoin is rewriting the rules of culture and commerce, and we want our guests to be part of that future every time they sit down for a meal.”

Fold, which went public earlier this year through a SPAC merger, currently holds roughly 1,500 BTC in its corporate treasury — valued near $160 million — and maintains a market cap just under $200 million. 

The company recently launched a bitcoin rewards Visa card powered by Stripe and continues to expand its product suite bridging traditional finance and Bitcoin-native tools.

The campaign — launching today, a date that coincidentally marks the 17th anniversary of the Bitcoin white paper — runs nationwide while supplies last. For both companies, it’s a symbolic nod to Bitcoin’s evolution from white paper to burger wrapper.

This post Steak ’n Shake Partners With Fold to Launch $5 Bitcoin Burger Reward first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Michael Saylor’s Strategy (MSTR) Reports $2.8B Q3 Net Income, Bitcoin Gains Soar

Michael Saylor’s Strategy (NASDAQ: MSTR) released its third-quarter earnings after market close on Oct. 30, posting net income of $2.8 billion. 

Diluted earnings per share (EPS) came in at $8.42, surpassing analyst expectations of $8.15. As of Oct. 26, 2025, Strategy held 640,808 BTC, acquired for a total of $47.44 billion at an average price of $74,032 per coin. 

The company reported a year-to-date Bitcoin yield of 26%, generating $12.9 billion in gains amid the ongoing 2025 crypto bull market.

Looking forward, Strategy projects full-year 2025 operating income of $34 billion and net income of $24 billion, or $80 per share — highlighting its transformation from a business intelligence firm into a de facto corporate Bitcoin investment vehicle.

Total revenues for Q3 reached $128.7 million, up 10.9% year-over-year and above the $118.43 million analysts had forecast.

The firm’s Bitcoin holdings have already produced gains of 116,555 BTC in 2025, translating to $12.9 billion in dollar terms based on an average BTC price of roughly $110,600 as of Oct. 24, nearing its full-year target of $20 billion.

Michael Saylor is the epitome of a bitcoin bull

Michael Saylor said recently at Money 20/20, “By the time the bankers tell you it’s a good idea, it’ll cost $10 million per Bitcoin.” He added that Bitcoin is currently at a “99% discount.”

NEW: Michael Saylor says, “By the time the bankers tell you it’s a good idea, it’ll cost $10 million per Bitcoin.”

It’s at a “99% discount” right now. pic.twitter.com/qaH4pF9xVj

— Bitcoin Magazine (@BitcoinMagazine) October 30, 2025

And Saylor’s public discourse towards bitcoin backs this belief up. Saylor reiterated his bullish outlook on Bitcoin, projecting $150,000 by the end of 2025 and up to $1 million within four to eight years.

He cited growing institutional adoption, driven by industry shifts, new investment products, and Strategy’s recent B-minus credit rating, as key catalysts. 

Saylor highlighted Strategy’s digital credit instruments offering 8–12.5% yields, tax-efficient returns, and tailored risk profiles. He noted increasing acceptance of Bitcoin by major U.S. banks and praised supportive regulatory policies. 

Strategy with a trillion-dollar Bitcoin balance sheet

In a recent interview with Bitcoin Magazine, Michael Saylor outlined his ambitious vision for Strategy: building a trillion-dollar Bitcoin balance sheet to transform global finance. 

Saylor sees his firm — and potentially other Bitcoin treasury companies — accumulating massive Bitcoin holdings, leveraging the cryptocurrency’s historical 21% annual appreciation to supercharge capital growth.

Central to his plan is the creation of Bitcoin-backed credit markets offering yields significantly higher than traditional fiat debt. By over-collateralizing capital, Saylor argues the system could be safer than AAA corporate debt while providing healthier returns for investors. 

This approach, he suggests, could revitalize credit markets worldwide, offering alternatives to low-yield bonds that dominate Europe and Japan.

Saylor also envisions Bitcoin becoming embedded across corporate, banking, and sovereign balance sheets, gradually turning traditional equity indexes into indirect Bitcoin vehicles. 

This integration could boost public companies, redefine savings accounts and money market funds, and allow tech giants like Apple and Google to bring hundreds of millions into the digital economy.

Those interested in learning more about Strategy’s earnings report can watch in full detail here.

This post Michael Saylor’s Strategy (MSTR) Reports $2.8B Q3 Net Income, Bitcoin Gains Soar first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Coinbase Beats Q3 Estimates With $1.9B Revenue, Buys $300M in Bitcoin

Coinbase reported stronger-than-expected third-quarter earnings Thursday, posting $1.9 billion in revenue — up 26% from the previous quarter — as renewed crypto market momentum boosted both trading and stablecoin income. 

The San Francisco-based exchange notched $433 million in net profit, or $1.50 per share, surpassing Wall Street expectations of $1.10 per share on $1.8 billion in revenue.

Despite a sequential decline from its record $1.4 billion profit in Q2, Coinbase attributed the drop primarily to non-cash mark-to-market adjustments related to its holdings in Circle and its crypto portfolio. 

Shares of Coinbase Global (COIN) jumped more than 4% in after-hours trading to $341 following the results. 

JUST IN: Coinbase announced it purchased $299 million #Bitcoin in Q3, 2025 pic.twitter.com/7axMBTxFw0

— Bitcoin Magazine (@BitcoinMagazine) October 30, 2025

The stock is up roughly 33% year-to-date after peaking above $440 in July.

Coinbase also bought almost $300 million in BTC in Q3. CEO Brian Armstrong confirmed via an X post that remains bullish on bitcoin, stating, “Coinbase is long Bitcoin. Our holding increased by 2,772 BTC in Q3. And we keep buying more.”

Coinbase trading activity surges due to crypto rally

The results came as Bitcoin hit fresh all-time highs during the quarter, fueling renewed retail and institutional activity after a quieter Q2 marked by macro headwinds. 

Coinbase reported $1.0 billion in transaction revenue, up 37% from the prior quarter and 83% from a year earlier, on trading volumes of $295 billion.

Institutional volume rose 22% sequentially to $236 billion, driven in part by the August acquisition of Deribit, the world’s largest crypto options exchange. 

Deribit contributed $52 million in revenue during Q3 as Coinbase expanded its derivatives business to include 24/7 perpetual futures trading in the U.S.

Retail activity also rebounded, with consumer trading volume climbing 37% to $59 billion. Coinbase said new listings and decentralized exchange (DEX) integrations helped boost activity among “advanced traders” the company said, while the company’s platform now supports trading for roughly 90% of all crypto assets by market capitalization.

Subscription and services strengthen

Coinbase continues to diversify beyond trading fees, with subscriptions and services revenue climbing 14% to $747 million. 

Stablecoin revenue — largely derived from its role in distributing and managing Circle’s USDC — rose to $355 million, a 43% increase year-over-year. Average USDC balances held in Coinbase products reached a record $15 billion, supported by rising market capitalization and new institutional reward programs.

Blockchain rewards, including staking income, grew 28% quarter-over-quarter to $185 million, aided by surging prices for Ethereum and Solana. 

Meanwhile, custodial fees and interest income both hit new highs as total assets on the platform reached $516 billion.

Building toward the “Everything Exchange”

Coinbase said it is progressing toward its vision of an “Everything Exchange” — a platform uniting spot, derivatives, and onchain services under one roof. 

The exchange also highlighted ongoing development of Base, its Ethereum layer-2 network, which has become the leading L2 for stablecoin adoption with $4.6 billion in dollar-pegged assets.

CEO Brian Armstrong said Coinbase is scaling payments by ‘advancing stablecoin adoption’ and building the foundation of the future financial system.

This post Coinbase Beats Q3 Estimates With $1.9B Revenue, Buys $300M in Bitcoin first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Bitcoin Price Crashes Down to $106,000 As Red Week Continues

Bitcoin price continued its slide through much of Thursday, dipping to as low as $106,290 as traders digested a wave of macro uncertainty — from Federal Reserve Chair Jerome Powell’s cautious tone on future rate cuts to renewed volatility following U.S.–China trade talks.

The bitcoin price fell over 3% in early trading before stabilizing slightly above $107,000. The drop extends a multi-day long decline that began after the Federal Reserve delivered a widely expected 25 basis point rate cut but signaled that December’s meeting may not bring another.

Powell’s remarks at the post-meeting press conference struck a notably hawkish tone. While acknowledging progress toward the Fed’s 2% inflation goal, he emphasized that the committee had “strongly differing views” and that no decision had been made about a December cut. 

Traders quickly scaled back expectations — with futures now pricing roughly a 60% chance of another reduction, down from nearly full certainty just a day earlier.

“Powell’s comments created a bit of risk-off sentiment,” said Charlie Sherry, head of finance at BTC Markets, according to Bloomberg. “Add in the Trump–Xi meeting stirring markets today, and, unsurprisingly, you get some volatility. Some technology stocks are rallying, but crypto hasn’t followed — which shows some relative weakness and hesitation in digital assets right now.”

Treasury yields and the U.S. dollar climbed following Powell’s remarks, while risk assets broadly sold off. The two-year Treasury yield jumped nearly 10 basis points as traders reassessed the Fed’s trajectory.

Meanwhile, market attention also turned to Seoul, where U.S. President Donald Trump met with Chinese President Xi Jinping. Trump described the talks as “amazing” and announced a deal to halve tariffs on fentanyl-related goods, claiming the two sides were “pretty close” to a broader trade agreement involving rare earth materials and agricultural purchases.

While such developments have little direct impact on Bitcoin, risk sentiment tends to spill across markets — and Thursday’s pullback in equities appeared to drag digital assets with it.

SpaceX moves $471 million in Bitcoin

Amid the macro jitters, on-chain analysts also flagged large Bitcoin movements linked to Elon Musk’s SpaceX. Data from Arkham Intelligence shows the company moved 281 BTC (worth roughly $31 million) late on October 29 — its fifth transfer this month, totaling 4,337 BTC (about $472 million).

The transfers were routed through Coinbase Prime, suggesting institutional custody activity rather than market sales. Some believe SpaceX may be reorganizing its wallets from older Bitcoin address formats (“1”-prefix legacy types) to newer Taproot and SegWit formats.

Musk first confirmed SpaceX’s Bitcoin holdings in 2021, though the firm reportedly reduced its stack by about 70% during the 2022 market crash. 

As of this month, Arkham tracks roughly 7,258 BTC (about $799 million) still linked to SpaceX addresses, though that figure could rise as recent transfers are reclassified.

Tesla, meanwhile, retains 11,509 BTC, worth about $1.3 billion, according to the same data.

Bitcoin price is waiting for clarity

With U.S. monetary policy in flux, trade negotiations uncertain, and major corporate holders quietly reshuffling coins, Bitcoin’s latest move reflects a broader narrative: investors waiting for direction.

The next major catalyst may arrive in December — either from a Fed rate cut or from markets losing faith that one is coming. Until then, Bitcoin remains in a holding pattern between macro optimism and monetary restraint.

This post Bitcoin Price Crashes Down to $106,000 As Red Week Continues first appeared on Bitcoin Magazine and is written by Micah Zimmerman.

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Lolli Acquires Slice to Expand Bitcoin Rewards Across Browsing and Shopping

Bitcoin rewards platform Lolli, now a part of the Bitcoin-focused venture studio Thesis*, has acquired Slice, a browser extension that allows users to earn Bitcoin through passive browsing. 

The acquisition merges two complementary approaches to earning Bitcoin — shopping and passive browsing — into a single platform, simplifying the user experience and broadening opportunities to “stack sats” across everyday online activity.

Founded in 2018, Lolli empowers users to earn free Bitcoin on purchases at over 50,000 top retailers and through 1,000+ mobile games. The platform has helped more than 600,000 users accumulate Bitcoin through intuitive, everyday experiences, according to a company release. 

With the addition of Slice, Lolli now extends rewards to users’ web browsing, streaming, and online scrolling habits, creating a unified ecosystem where earning Bitcoin is seamless.

Slice, a browser extension designed to reward users for passive online activity, brings Lightning Network support for withdrawals built into its platform. 

Quicker withdrawals via Layer 2s 

This integration accelerates Lolli’s adoption of the Layer 2 network, allowing faster, cheaper, and smaller Bitcoin withdrawals—an improvement that directly addresses user concerns about withdrawal friction and high minimums. 

“Lightning makes small withdrawals economically viable in a way Layer-1 transactions never could,” the Lolli team said.

The merger also signals Thesis*’s continued focus on consolidating the Bitcoin rewards space. Thesis*, founded in 2014, is a pioneering venture studio dedicated to building Bitcoin-first solutions that empower individuals and communities. 

Its portfolio includes Fold, Mezo, tBTC, Acre, and Taho. The acquisition of Slice marks Thesis*’s second major move in the Bitcoin rewards sector, following Lolli’s earlier integration, and reflects the company’s strategy to unify a previously fragmented market.

Matt Luongo, Founder and CEO of Thesis*, noted the strategic importance of the acquisition: “Together, Slice and Lolli will make it easier than ever for newly minted Bitcoiners to stack sats. Users already earning on Lolli will now be able to double down on their rewards potential simply by browsing online.” 

Luongo also noted that Thesis* is systematically rebuilding Lolli’s app and infrastructure, starting with Layer 2 and sidechain integrations, and plans to expand onchain withdrawal options in the future.

From a user perspective, the acquisition ensures continuity: current Lolli users maintain their existing accounts and rewards, while Slice users continue earning Bitcoin through passive browsing. 

Over time, the combined platform will integrate withdrawals through Mezo, Thesis*’s Bitcoin sidechain, and expand merchant partnerships to create a truly global Bitcoin rewards ecosystem.

As the Bitcoin rewards sector continues to grow, this acquisition underscores the broader trend of consolidation and product integration. 

This post Lolli Acquires Slice to Expand Bitcoin Rewards Across Browsing and Shopping first appeared on Bitcoin Magazine and is written by Micah Zimmerman.