In a week of contrasting strategies, Riot dumps Bitcoin reserves while Strategy doubles down on its holdings.

Riot Platforms has made its first significant Bitcoin sale in over a year, offloading 475 BTC for a cool $38.8 million in April. This decisive move marks a strategic shift for the mining giant, which had been hoarding its digital assets since January 2024.

“Selling bitcoin helps reduce reliance on equity fundraising and prevents stock dilution,” CEO Jason Les stated, justifying the company’s decision to tap into its reserves.

Despite the sell-off, Riot remains one of the largest corporate Bitcoin holders with an impressive 19,211 BTC still in its possession as of May 5, 2025. This strategic liquidation comes at a critical time, as the company’s average cost to mine one BTC skyrocketed to $43,808 following last year’s Bitcoin halving.

The decision follows a challenging first quarter where Riot reported a staggering $296.4 million net loss, despite generating $161.4 million in revenue that included a $71.5 million bitcoin mining boost.

Meanwhile, in a contrasting power move, Strategy (formerly MicroStrategy) doubled down on its Bitcoin-heavy approach, scooping up another 1,895 BTC for a massive $180 million between April 28 and May 4. This latest acquisition was financed through the sale of MSTR and STRK shares, completing the company’s ambitious $21 billion “21/21 Plan.”

Not content to rest on its laurels, Strategy has already launched a new “42/42 Plan” aimed at raising a staggering $42 billion for future Bitcoin purchases. The company continues to issue STRF preferred stock outside these plans, cementing its position as the leading corporate Bitcoin holder with a total of 555,450 BTC now in its possession, valued at an eye-watering $52.2 billion.

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In regulatory news, Indonesia’s Ministry of Communication and Digital Affairs has suspended Sam Altman’s World project over reports of suspicious activities involving its World ID system. Authorities discovered that one operator was operating without proper registration and using another entity’s permit – a violation the ministry described as a “serious legal breach.”

Local partners PT. Terang Bulan Abadi and PT. Sandina Abadi Nusantara have been summoned to clarify alleged regulatory violations. This suspension comes at an awkward time for Worldcoin, which recently announced its U.S. expansion amid ongoing global concerns over its data privacy practices.

Crypto’s regulatory moment never misses a beat, after House Republicans introduced draft legislation to regulate digital assets. The draft, which is a continuation of earlier legislative attempts, would also offer clearer rules for the industry, protect consumers and promote long-term market stability.

The proposed legislation outlines distinct regulatory roles for the SEC and CFTC, mirroring last year’s FIT21 Act, and would significantly expand the CFTC’s authority over crypto spot markets like Bitcoin.

Also read: Corporate Treasuries to Pour $330 Billion Into Bitcoin by 2029

In other developments, DeFi Development Corp. is set to acquire a Solana validator business in a deal worth $3.5 million, structured as $3 million in restricted stock and $500,000 in cash. The validator manages approximately 500,000 delegated SOL, valued at $75.5 million, in a move expected to boost the firm’s SOL per share growth by increasing yields and reducing dependence on third-party validators.

With crypto markets in flux, these strategic decisions by key players demonstrate the ongoing evolution of the industry and the various strategies companies are employing to survive in a volatile environment.