Crypto World
Here’s how it could happen this year
It’s not out of the realm of possibility that Strategy (MSTR) could be the owner of 1 million bitcoin — or nearly 5% of the 21 million bitcoin that will ever be created — by the end of 2022.
The company currently holds 738,731 BTC, meaning it would need to acquire another 261,269 BTC to reach the milestone. With roughly 297 days, about 42 weeks, remaining in 2026, that implies an average purchase pace of around 6,158 BTC per week.
Assuming an average bitcoin price of $85,000, Strategy would need to deploy roughly $523 million per week, or about $22.2 billion in total, to reach the 1 million BTC mark by year’s end.
Led by Executive Chairman Michael Saylor, the company’s recent purchases suggest that pace may be achievable. Just last week, Strategy added 17,994 bitcoin. This week’s acquisitions (likely to be disclosed on Monday) are likely to also be deep into the thousands. The company’s STRC preferred stock issuance alone from Monday to Thursday suggested as much as 11,000 BTC purchases. And this doesn’t account for common stock issuance, which may have facilitated thousands more in bitcoin buys.
Longer-term, since launching its bitcoin treasury strategy in August 2020, Strategy has purchased an average of about 10,700 BTC per month, equivalent to roughly 128,000 BTC per year.
So far in 2026, the company has already acquired about 64,948 BTC, putting it well ahead of its historical annual average pace of accumulation.
The Ethereum Foundation (EF) said it finalized the sale of 5,000 ether (ETH) in an over-the-counter transaction with one of the top crypto treasury firm Bitmine Immersion Technologies.
The sale cleared at an average price of $2,042.96 per ETH, the Foundation said, placing the transaction’s value at roughly $10.2 million.
The non-profit organization, established in 2014 to support the Ethereum blockchain and its ecosystem, said the funds will support its core operations, including protocol research and development, ecosystem growth, and community grants.
The transactions, it said, are in line with the policy that governs its reserve management. The framework aims to strike a balance between holding ETH and maintaining sufficient fiat or fiat-like assets to cover operating costs. EF currently aims to keep annual operating expenses near 15% of treasury value with a 2.5-year operating buffer, a strategy that determines how often it sells ETH.
The sale comes less than a month after the Ethereum Foundation began staking up to 70,000 ETH to support its operations and deepen its role in the Ethereum ecosystem.
Bitmine, helmed by Fundstrat’s Tom Lee, was the counterparty in the deal and is the largest publicly traded ether treasury firm, currently holding around 4.53 million ETH, worth more than $9.4 billion.
The firm’s portfolio is almost entirely ether. The company also holds around 195 BTC and more than $1 billion in cash, along with equity stakes. These stakes also include a share of Beast Industries, the company behind YouTube creator MrBeast, after a $200 million investment in it, along with a 7% stake in the worldcoin treasury firm Eightco.
Read more: ‘Mini crypto winter’ nearly over, says Tom Lee as Bitmine ramps up pace of ether acquisition
Boris Johnson, the former prime minister of the United Kingdom, called Bitcoin (BTC) a “Ponzi Scheme” that has less value than Pokémon cards, collectibles he said had a wide appeal and a multi-decade history.
Johnson wrote an opinion article published in the Daily Mail on Friday that began with a story about a friend who had given 500 British pounds, or about $661, to a man who promised to “double his money” by investing it in BTC.
The friend continued to pay additional “fees” to the scheme’s promoter over the next three and a half years, but was never able to retrieve his funds, despite sinking 20,000 British pounds, or about $26,474, which led to financial hardship, Johnson said.
“He was struggling to pay his bills. He wasn’t the only one, said my friend. Other people in the neighborhood were going through the same nightmare,” Johnson added. Johnson then argued that collectible Pokémon cards are a more tradable asset than BTC:
“These curious little Japanese cartoon beasties seem to exercise the same fascination over the five-year-old mind as they did 30 years ago. The kids drool over them. They boast and squabble about them.
Even if you remain pretty impervious to the charm of Pikachu, you can just about see why a decades-old Pikachu card is still a tradeable asset,” he added.
The opinion article drew a wave of online criticism from the Bitcoin community and crypto industry executives, who refuted it by explaining Bitcoin’s fundamental properties and arguing that debt-based fiat currency systems are Ponzi schemes.
Related: Bitcoiners celebrate as the network produces its 20 millionth coin
Bitcoiners educate and ridicule Johnson for his take
“Bitcoin is not a Ponzi scheme. A Ponzi requires a central operator promising returns and paying early investors with funds from later ones,” Strategy co-founder Michael Saylor said in response.
“Bitcoin has no issuer, no promoter, and no guaranteed return, just an open, decentralized monetary network driven by code and market demand,” Saylor continued.
Pierre Rochard, CEO of The Bitcoin Bond Company, a BTC-backed financial product issuer, said that the UK is a “giant Ponzi scheme” financed by debt.
Magazine: Bitcoin’s ‘narrative vacuum,’ Ethereum now inevitable: Trade Secrets
Crypto World
BTC Wobbles at $70K as France Deploys Ships to Hormuz and Trump Rejects Peace Deal Attempt (Report)
Meanwhile, Russia reportedly became the first country to send aid to Iran since the war began.
Bitcoin’s price moves continue to be quite muted despite the most recent developments on the rapidly increasing Middle East tension. After today’s big strikes against a key Iranian island, Trump urged numerous countries to send military ships to defend the oil export through the Strait of Hormuz, and France was among the first to respond positively.
At the same time, Oman officials said they tried to broker a peace deal between the US and Iran, but to no avail.
France Sends Ships
CryptoPotato reported earlier on Saturday that the US military carried out a targeted operation against Iran’s Kharg Island, which the POTUS described as “the most powerful bombing raids in Middle East history.” However, he added that the US intentionally did not attack any oil infrastructure but threatened to do so if Iran interferes in any way with the free and safe passage of ships through the Strait of Hormuz.
Hours later, Trump urged other countries, including China, France, Japan, South Korea, and the UK, to send “Warships” to the region to ensure the Strait remains open and safe. Reports from minutes ago suggested that France concurred with the US President’s message, sending 10 warships to the region. However, the UK has refused to deploy any military aircraft carriers as of press time.
In a separate development on the matter, The Kobeissi Letter reported that Russia has become the first nation to aid Iran in some official way after the war began, sending 13 tons of medical aid.
No Peace Deal Yet
Another report that just came out indicated that officials from Oman have “reached out to the US in an attempt to broker a peace deal with Iran,” but the US President declined.
Some of the details on the matter suggest that Oman has tried “multiple times” to open a line of communication, but the White House was “not interested.” According to a cited senior official from the Trump administration, the President is “focused on pressing ahead with the war.”
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BREAKING: Oman has reached out to the US in an attempt to broker a peace deal with Iran, but President Trump declined, per Reuters.
Details include:
1. Oman has tried “multiple times” to open a line of communication, but the White House is “not interested”
2. A senior White…
— The Kobeissi Letter (@KobeissiLetter) March 14, 2026
Bitcoin’s price continues to be unaffected by these developments, trading above $70,000 as of press time. However, the asset has historically dumped after most financial markets open on late Sunday and early Monday.
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The ongoing war in the Middle East hasn’t just disrupted the flow through the Strait of Hormuz, but it has also hit a plethora of high-profile business events in the region, including major crypto conferences.
TOKEN2049 Dubai, one of the largest crypto conferences in the world, will not take place this year. Organizers said the event, originally scheduled for late April, has been postponed to April 21–22, 2027, due to ongoing uncertainty in the region.
The conference typically attracts more than 15,000 attendees, including founders, venture investors, developers and exchange executives.
Organizers said concerns around safety, international travel and logistics played a central role in the decision. Tickets and registrations will remain valid for next year’s event.
And this is just one of the crypto events.
TON Gateway Dubai, another crypto gathering, has been canceled outright. The event focused on The Open Network ecosystem and was expected to bring developers and partners working on the TON blockchain together in early May. The team behind the event said it scrapped the in-person conference due to heightened security risks in the region, and that those who purchased tickets received full refunds.
The impact has also reached global sports. The Bahrain Grand Prix scheduled for April 12 and the Saudi Arabian Grand Prix on April 19 are set to be canceled due to safety risks tied to the conflict, including nearby military strikes, disrupted airspace and travel complications for teams and staff.
Formula 1 and the FIA are expected to formally confirm the decision over the weekend.
Later Middle East races are still scheduled for now, including the Qatar Grand Prix and the season-ending Abu Dhabi Grand Prix in December. However, organizers are closely monitoring the regional security situation as travel and logistics remain uncertain across the Gulf.
The disruptions extend beyond crypto and motorsport. Several major business events in the UAE have also shifted dates. Middle East Energy Dubai, a large trade show that usually draws tens of thousands of attendees, has been moved to September. Affiliate World Global postponed its Dubai edition to 2027, while the Dubai International Boat Show has delayed its next event without announcing new dates.
Some sporting events across the region have also been postponed, including tennis tournaments in the UAE and football matches tied to Asian competitions.
Crypto industry impact
The Formula 1 cancellations carry additional implications for the cryptocurrency industry, which has become one of the sport’s largest sponsor categories.
Exchanges and blockchain companies have spent tens to hundreds of millions of dollars on F1 partnerships to reach a global audience and target fast-growing markets in the Middle East.
Cryptocurrency exchange OKX, which was recently valued at $25 billion, has been a primary partner of McLaren since 2022. It maintains prominent branding across the team’s cars, driver suits and trackside activations.
Crypto.com serves as a global Formula 1 partner through 2030, while exchanges such as Bybit have previously signed deals worth up to $150 million with top teams like Red Bull Racing. Kraken, Coinbase and Binance are also sponsors of motorsports that may be affected.
OKX and Crypto.com didn’t immediately reply to the request for comments.
When a sponsored team reaches the podium, logos appear during televised ceremonies, interviews and trophy presentations, moments watched by a global audience of more than a billion viewers each year.
For Dubai-based and regional exchanges, the Bahrain and Saudi races were especially valuable because they connect global broadcasts with a local audience in the Gulf, one of the world’s most active crypto markets.
The hit carries weight because of Dubai’s role in the global crypto industry. Over the past few years, the emirate has positioned itself as one of the world’s most active crypto hubs.
A tax-friendly environment and the creation of the Virtual Assets Regulatory Authority, an independent regulator for the sector, helped attract exchanges, venture funds and startup teams seeking clearer rules than those found in many other jurisdictions.
Companies, including Binance, have built large operational footprints in the city, turning Dubai into a central meeting point for the global Web3 sector.
Crypto World
Coinbase and Bybit in Investment Talks: Could Bybit Finally Enter the US Crypto Market?
TLDR:
- Coinbase and Bybit are in early-stage investment talks, with no official confirmation from either party yet.
- Bybit’s valuation is estimated at around $25 billion, mirroring ICE’s recent investment deal with OKX.
- The partnership could give Dubai-based Bybit a fully regulated entry point into the US crypto market.
- COIN stock rose 1.18% on the news, gaining nearly 20% over the past month amid rising investor confidence.
Coinbase and Bybit are reportedly in discussions for a major investment deal. The potential partnership could give Dubai-based Bybit a regulated path into the US crypto market.
Three sources confirmed the talks to WuBlockchain, although neither party has officially commented. No final outcome has been reached as of now.
Reports indicate Bybit’s valuation could reach around $25 billion, based on a comparable deal involving OKX and ICE. The deal could also expand Coinbase’s global reach if confirmed.
Coinbase-Bybit Deal Could Open US Market to Offshore Exchange
The current discussions between Coinbase and Bybit cover a broad range of possible cooperation. This includes potential investment and other forms of formal collaboration between the two exchanges. However, the talks remain exploratory, and no binding agreement has been reached yet.
Bybit is the world’s second-largest offshore crypto exchange, headquartered in Dubai. The platform serves a large global user base and offers a wide range of trading products. Gaining a regulated foothold in the US market has been a strategic priority for the exchange.
Coinbase, as the largest US-based crypto exchange, brings deep regulatory experience to the table. Experts say its background in licensing, reporting, and customer protection could benefit Bybit considerably.
Through this partnership, Bybit could navigate US compliance requirements far more effectively. Coinbase’s strong track record with US regulators adds credibility that Bybit would need in the market.
The deal also mirrors other recent strategic moves in the crypto sector. ICE recently invested in offshore exchange OKX at a valuation of $25 billion.
Additionally, Coinbase acquired Deribit last year in a $2.9 billion transaction, reflecting a pattern of expansion through strategic deals.
Industry Response and Market Reaction to the Coinbase-Bybit Reports
Social media has seen a wave of speculation since WuBlockchain first reported the story. On X, OKX founder Star Xu shared his reaction to the reports, stating: “If it’s true, good for the industry. Higher standards, less regulatory arbitrage.” His comment reflects a broader positive sentiment toward regulated collaboration in the crypto space.
Experts note that a successful Coinbase-Bybit deal could benefit both parties in distinct ways. For Coinbase, it offers an expanded global reach and a stronger international presence.
For Bybit, the deal opens a structured and compliant entry into the US market. The partnership could also position both companies more competitively in an evolving global landscape.
The COIN stock price responded positively to the emerging reports. Shares closed at $195.53, recording a 1.18% gain in a single trading day. Over the past month, the stock has risen nearly 20%, pointing to growing investor confidence around Coinbase’s strategic direction.
The talks remain in their early stages, and no official timeline has been confirmed. Both Coinbase and Bybit have yet to release any public statement on the matter. The industry continues to watch closely for further developments as speculation around the deal grows.
Ethereum is still in recovery mode, but the rebound is starting to look more organized than before. The asset continues to hold above the February base and is pressing closer to a key breakout area, which suggests buyers are gradually gaining confidence even if the larger trend has not fully turned yet.
Ethereum Price Analysis: The Daily Chart
The daily chart still carries the scars of the broader downtrend. ETH remains below the 100-day and 200-day moving averages, and both are still sloping in a way that favors sellers on the higher timeframe. The descending structure from the prior months also remains intact, so the market is not out of danger yet.
Even so, the picture has improved at the margin. Ethereum has spent several weeks defending the $1,800 zone and has now pushed back toward the $2,150 short-term resistance area again. If that ceiling breaks, the next upside region to watch sits around $2,300 to $2,400, while the much larger barrier remains near $2,800. On the downside, losing the $1,800 support cluster would weaken the recovery thesis considerably and likely lead to another round of decline capitulation.
ETH/USDT 4-Hour Chart
On the 4-hour chart, ETH looks more constructive than it does on the daily. The market has been printing a sequence of higher lows from the February bottom, and the rising trendline underneath the price shows that dip buyers are still active. That does not guarantee a breakout, but it does show that the short-term structure is leaning upward rather than flat or weak.
What matters now is the repeated test of $2,143. The asset has reached that level several times, which usually makes the next reaction important. A decisive move through it could trigger a fast push into the next supply zone around $2,400 and possibly higher. Another rejection, however, would likely keep ETH rotating sideways and send it back toward the trendline and the $1,800 support area.
Sentiment Analysis
Funding data shows that sentiment is no longer fearful, but it is not overheated either. Rates are mostly positive, which means long positioning is present, and traders are generally leaning bullish, yet the readings are still relatively moderate compared to the stronger speculative phases seen in the past.
That is usually a healthier backdrop than an aggressively crowded long market. In other words, sentiment is supportive, but not euphoric. This gives ETH room to extend higher if price confirms with a breakout, though it also means the market still needs spot follow-through rather than relying purely on leveraged optimism.
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Bitcoin (BTC) is on track for its strongest weekly gain since September 2025, defying a broader risk-off backdrop driven by the escalating US and Israel-Iran war.
Key takeaways:
-
Strategy raised $776 million this week, which could lead to the purchase of over 11,000 BTC.
-
US Bitcoin ETFs had $767 million in inflows in the same period.
STRC hints at $776 million in Bitcoin buying power
As of Saturday, BTC/USD had risen more than 7% over the past week to around $70,625. Over the same period, the benchmark S&P 500 (SPX) was down 1.60%.
The divergence came as STRC.LIVE estimates indicated that Strategy may have raised enough cash through at-the-market sales of its STRC instrument this week to buy more than 11,000 BTC.
At current prices, that would amount to roughly $776 million in Bitcoin.
STRC is Strategy’s exchange-traded income-paying instrument that helps it raise investor cash for Bitcoin buys. When it trades at or above its $100 par value, Strategy can issue more shares and turn that demand into fresh BTC-buying capital.
Related: Bitcoin ‘passing geopolitical stress test’ as BTC price spikes above $72K
Last week, Strategy had purchased 17,994 BTC, equivalent to about $1.28 billion at that time. About 30% of the BTC allocation was funded by STRC sale proceeds.
Bitcoin’s price was also boosted by US spot Bitcoin ETFs, which attracted $767 million in net inflows across five straight trading days, reflecting growing demand for BTC despite the Middle East crisis.
Bitcoin gains during geopolitical crises
In the past, Bitcoin has experienced selloffs at the start of major geopolitical conflicts, only to recover and deliver larger gains.
In February 2022, Russia’s invasion of Ukraine caused an initial dump, but was followed by a 40% BTC price rally, as shown below.
A similar sequence played out after Israel’s June 2025 strikes on Iran. Bitcoin dipped in the immediate aftermath, then flipped higher, gaining about 25% over the next two months.
During the January 2020 US–Iran flare-up after General Qasem Soleimani’s killing, Bitcoin rose more than 50% overall, even though the first reaction included a brief price drop.
Bitcoin price may rise further if history is any indication, with macro models hinting at an escalation toward $100,000 in the coming months.
Bear flag keeps BTC’s downside risks intact
Conversely, a bear flag formation on the Bitcoin chart increases the likelihood of a bull trap.
Bear flags form when the price rises inside an ascending, parallel channel after a strong downtrend. They usually resolve when the price breaks below the lower boundary and falls by as much as the previous downtrend’s height.
As of Saturday, Bitcoin showed signs of upside exhaustion near the flag’s upper boundary, also aligning with the 50-day exponential moving average (50-day EMA, the red line) at around $72,750.
Applying the bear flag principle to Bitcoin’s chart places the measured downside target at around $51,000.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
Ether surged to a monthly peak near $2,209 on Friday before retreating and failing to sustain a move beyond a resistance level that has capped gains on five occasions since February. On-chain indicators point to a sizable cohort of investors with cost bases clustered around $2,800, suggesting meaningful demand in that zone. Meanwhile, futures market activity shows traders trimming risk after the week’s rally, signaling a cautious stance even as spot demand strengthens. Taken together, the setup places ETH at a crossroads: a clean break above current congestion could invite a faster move toward the $2,800 area, while the clock remains on the side of risk management in the near term.
Key takeaways
- On-chain cost-basis distribution identifies a heavy accumulation near $2,800, with more than 3 million ETH previously purchased in that band.
- The price has tested the $2,200–$2,400 range multiple times this year, with the 200-day moving average converging near the $2,800 zone on the daily chart.
- Futures open interest expanded during the rally, rising about 21% to $10.9 billion as ETH approached $2,200, then declined roughly 6% after the upper range was tested.
- Spot demand improved during the move, with the spot-volume cumulative delta turning positive, suggesting buyers stepped in as ETH rebounded from the $2,000 region.
- Derivatives positioning remained balanced, with long exposure on Binance accounting for about 59% of futures position, signaling potential for choppy action near key resistances.
- Near-term dynamics point toward a potential acceleration toward the $2,800 zone if supply concentration remains thin between $2,200 and that level.
Tickers mentioned: $ETH
Sentiment: Neutral
Price impact: Negative. The pullback after testing the upper range indicates near-term downside pressure unless demand re-asserts itself.
Trading idea (Not Financial Advice): Hold.
Market context: The market remains attentive to on-chain accumulation signals and how derivatives positioning interacts with price movement, all within a broader backdrop of cautious risk appetite and macro uncertainty.
Why it matters
From a market context perspective, the convergence of on-chain and derivatives signals matters because it highlights a potential floor beneath ETH’s price and a ceiling that could invite renewed pressure. The heavy accumulation around $2,800 suggests that a large cohort of participants view that price as a long-run entry zone or a critical defense level, which can act as a magnet if prices march higher. If ETH can clear the $2,800 barrier with conviction, liquidity dynamics could shift more decisively in favor of bulls, potentially turning the current range into a launching pad for a sustained up-leg.
On the other side, the futures market’s cautious tilt—illustrated by a 21% jump in open interest during the rally followed by a ~6% pullback after the upper bound test—signals participants are managing risk rather than doubling down on leverage. This balance often translates into range-bound or choppy price action as traders wait for clearer catalysts. The spot market’s improving demand, evidenced by a positive shift in the cumulative delta, shows that buyers stepped in when ETH dipped toward the $2,000 mark, lending some credibility to a resilient bid there. Still, the lack of overwhelming liquidity just below the $2,800 cluster implies that a decisive break could hinge on broader market momentum or a new flow of fundamental news.
Regulatory and governance context also influences sentiment. Notably, discussions around the Ethereum Foundation’s mandate and goals have surfaced, underscoring that organizational evolution and mission clarity can indirectly affect network development and investor perception. For those tracking longer-term risk, the combination of on-chain accumulation patterns and a balanced derivatives backdrop emphasizes the importance of monitoring liquidity flows, hurdle levels, and macro catalysts that could tip the balance toward or away from a sustained ascent toward the $2,800 area. As these dynamics unfold, traders will likely keep a close eye on whether the current structure holds or yields a breakout that accelerates ETH’s trajectory.
Earlier reporting highlighted a broader context around Ethereum’s roadmap and governance, including articles on the Ethereum Foundation’s mandate and related analyses on accumulation wallets. These pieces provide background on how structural developments and investor behavior interact, reinforcing the view that price action in the near term will be shaped by how market participants interpret both on-chain signals and institutional intentions.
For ongoing context, traders and observers can also consider the ongoing attention on Ethereum price dynamics in relation to standard benchmarks like the Ethereum price page and related market data coverage, as well as the broader ecosystem signals documented in market analyses tied to accumulation trends and wallet activity.
What to watch next
- Watch for a decisive move beyond the $2,800 cost-basis cluster; a sustained breakout could invite additional buying interest and a faster push toward the next resistance.
- Monitor the 200-day simple moving average near $2,800 for potential support or a shift in momentum if ETH tests it again.
- Track open interest changes on major exchanges; a renewed rise could indicate fresh leverage interest as price improves.
- Observe spot market indicators, particularly CVD and bid-ask dynamics, to gauge whether buyers can sustain a move through key supply zones.
- Keep an eye on governance and foundation-related updates that could influence long-term investor confidence and network development.
Sources & verification
- On-chain cost-basis distribution heatmap showing accumulation near $2,800 (more than 3 million ETH).
- Ether price action and daily chart context, including proximity to the 200-day SMA near $2,800.
- Futures data: open interest movements around $10.9 billion during the rally and subsequent pullback.
- Derivatives positioning on Binance, with long exposure around 59.4% of futures exposure.
- Related reporting on Ethereum accumulation wallets and governance/goals discussions.
Why it matters
Ether’s near-term trajectory remains shaped by a blend of on-chain demand and risk management in the derivatives market. The concentration of cost basis near $2,800 indicates that a large supply of market participants would likely defend that level, making it a critical reference point for future price discovery. If buyers manage to push prices above the current congestion and dissolve the supply at $2,200–$2,800, liquidity could accelerate toward the $2,800 target, aligning with the observed accumulation signals.
Conversely, a failure to convert the upper end of the range could see traders reassess risk, particularly given the balanced or modestly long positioning on major platforms. In such a scenario, any renewed hesitation near resistance could translate into a protracted consolidation, with small negative catalysts potentially curbing momentum. The evolving narrative around Ethereum’s governance and strategic priorities—alongside the Foundation’s mandate discussions—adds another layer of context for investors considering the path ahead for ETH.
What to watch next
- Dates and milestones related to updates in Ethereum Foundation governance and roadmap clarifications.
- Upcoming data on open interest across major exchanges to gauge fresh leverage entering the market.
- Key price triggers around the $2,800 zone and potential liquidity shifts as supply bands align with demand pockets.
Former U.K. Prime Minister Boris Johnson has called bitcoin a “giant Ponzi scheme,” prompting a swift rebuttal from Strategy chairman Michael Saylor and other netizens.
In a column published in the Daily Mail and posted on social media platform X, Johnson wrote that he had long suspected cryptocurrencies relied on “a supply of new and credulous investors” rather than real value. He pointed to a story from his village in Oxfordshire about a retired man who handed £500 ($661) to someone in a pub who promised to double the money through bitcoin.
According to Johnson’s account, the man spent three and a half years paying fees and trying to withdraw funds. He ultimately lost about £20,000 ($ 26,450), referring to what he admitted was “some kind of scam.”
Johnson argued that assets such as gold or even collectibles like Pokémon cards hold some cultural or physical appeal. Bitcoin, he wrote, is “just a string of numbers stored in a series of computers.”
He also questioned why people should trust a system created by a pseudonymous entity, Satoshi Nakamoto, without institutional backing.
“Who do we talk to if they decrypt the crypto?” Johnson asked. “There’s no one except this Nakamoto, who may be no more real than Pikachu or Charmander themselves.”
Community push back
Reacting to the column, the cryptocurrency community pushed back against Johnson’s claims.
Saylor, Executive Chairman of the world’s largest corporate bitcoin holder Strategy (MSTR), refuted the claims, saying a Ponzi scheme requires a “central operator promising returns and paying early investors with funds from later ones.”
Bitcoin, Saylor added, has “no issuer, no promoter, and no guaranteed return—just an open, decentralized monetary network driven by code and market demand.”
Bitcoin is not a Ponzi scheme. A Ponzi requires a central operator promising returns and paying early investors with funds from later ones. Bitcoin has no issuer, no promoter, and no guaranteed return—just an open, decentralized monetary network driven by code and market demand.
— Michael Saylor (@saylor) March 13, 2026
On X, in the “community notes program,” a note was added pointing out that Ponzi schemes promise artificially high rates of returns with next to no risk.
“Bitcoin has no issuer and its value is purely determined by the free market. The code is totally public and opt-in. Nobody can force you to run any particular version,” the note reads.
Other responses ranged from technical explanations of Bitcoin’s design to broader criticism of government monetary policy.
Other responses ranged from technical explanations of Bitcoin’s design to broader criticism of government monetary policy. Some users pointed to Bitcoin’s fixed supply and decentralized network as evidence that it differs from classic Ponzi structures
Others took a more combative tone, posting memes and criticizing central banks for expanding the money supply during the pandemic. As for who’s in charge, BitMEX Research replied, “nobody is in charge.”
The crypto casino market has matured enough to produce its own internal rivalries. This is no longer about whether crypto gambling can work — that question was answered years ago. The question now is which crypto-native platform does it best. Stake.com has held the crown as the most recognised name in crypto gambling for some time, built through massive marketing spend and a distinctive product. ZunaBet launched in 2026 with a platform specifically designed to challenge where Stake falls short — particularly around welcome bonuses, loyalty transparency, and game library scale. Both platforms run on crypto. Both serve the same core audience. The comparison comes down to which one delivers more value to the player sitting behind the screen.
Stake.com: The Name That Defined Crypto Gambling
Stake.com went live in 2017 and rapidly became the face of crypto casino gaming worldwide. Operating under a Curaçao license, the platform achieved massive visibility through sponsorship deals with the UFC, Drake, and multiple football clubs. That marketing firepower, combined with a distinctive product, turned Stake into a brand that transcended the crypto gambling niche and entered mainstream awareness.
The gaming experience at Stake centres partly around its proprietary Stake Originals. Titles like Crash, Plinko, Mines, Dice, and Limbo have become signature games within the crypto gambling community — simple in design but addictive in execution. Third-party games from providers like Pragmatic Play, Hacksaw Gaming, and others supplement the originals, though the total library has not prioritised reaching the same volume levels as some newer platforms.
The sportsbook is genuinely strong. Football, basketball, tennis, MMA, cricket, boxing, and a broad selection of other sports receive thorough treatment. Esports betting has been an area of particular strength with markets covering CS2, Dota 2, League of Legends, and more. The sports product is well-integrated and competitive at the highest level.
Stake accepts multiple cryptocurrencies including BTC, ETH, LTC, DOGE, and others, with fiat available in select markets. Transactions process at blockchain speed without platform fees. The payment experience is consistent with what crypto-native users expect.
Loyalty operates through a VIP programme that combines automatic progression at lower levels with an invitation-based system for the upper tiers. Lower-level players receive modest rakeback and occasional reload bonuses. Top-tier VIPs enjoy personalised hosts, custom deals, and significantly higher rakeback. The gap between what lower and upper tiers receive has been a consistent source of frustration for players who wager regularly but below whale thresholds.
Notably, Stake does not provide a welcome bonus. No deposit match. No free spins. New players begin with exactly what they deposit and nothing more.
ZunaBet: Built to Win the Crypto Player’s Attention
ZunaBet debuted in 2026 under Strathvale Group Ltd, holding an Anjouan gaming license and built by a team with over 20 years of combined industry experience. The platform was constructed on crypto-native infrastructure with a deliberate focus on addressing the specific shortcomings that players have identified in existing crypto casinos. The result is a platform that matches the crypto foundations of competitors like Stake while exceeding them on content volume, bonus value, and reward transparency.
The game library immediately establishes scale. ZunaBet hosts 11,294 titles from 63 providers. Pragmatic Play, Evolution, Hacksaw Gaming, BGaming, and Yggdrasil lead the roster, supported by more than fifty additional studios. Slots dominate the count, but live dealer tables and RNG games carry genuine variety. The breadth of the catalog gives ZunaBet a content advantage that even the most established crypto casinos have difficulty matching.
Sports betting was treated as a primary product from the outset. Football, basketball, tennis, hockey, and major global sports get full market depth. Esports are permanently integrated with dedicated markets on CS2, Dota 2, League of Legends, and Valorant. Virtual sports and combat sports expand the coverage. The sportsbook competes directly with Stake’s offering and adds coverage that ensures evolving betting interests are fully addressed.
The welcome package is one of ZunaBet’s most visible differentiators. Up to $5,000 plus 75 free spins across three deposits provides new players with a substantial starting advantage. First deposit earns 100% up to $2,000 with 25 spins. Second earns 50% up to $1,500 with 25 spins. Third earns 100% up to $1,500 with 25 spins. In a market where Stake offers nothing to new players, this package alone shifts the opening value proposition decisively in ZunaBet’s direction.
Payment infrastructure supports over 20 cryptocurrencies — BTC, ETH, USDT across multiple chains, SOL, DOGE, ADA, XRP, and many others. No fees. Fast blockchain withdrawals. The payment experience matches the standard that Stake established, ensuring no ground is lost on this front.
Native apps for iOS, Android, Windows, and MacOS deliver a consistent experience across every device. The dark-themed responsive interface loads quickly. Live chat support runs 24/7.
The Bonus Question: Generosity vs Austerity
The welcome bonus comparison could not be more straightforward. Stake offers none. ZunaBet offers $5,000 plus 75 free spins.
A new player choosing between these platforms faces a simple calculation. Deposit at Stake and start with your deposit amount. Deposit at ZunaBet and start with up to double your deposit plus free spins. The second scenario provides more games played, more chances to explore, and more runway before a player is operating purely on their own funds.
Stake has long argued that its product speaks for itself and that welcome bonuses are unnecessary. ZunaBet takes the position that rewarding players from the very first interaction is fundamental to the relationship. For the majority of players who appreciate tangible value on arrival, ZunaBet’s approach resonates more strongly.
Loyalty: Invitation Walls vs Open Doors
Both platforms reward ongoing play, but the accessibility and transparency of those rewards differ sharply.
Stake’s VIP programme delivers impressive value at the top. High-volume players who reach the upper invitation-only tiers receive personalised attention, custom rakeback arrangements, and exclusive benefits. The problem is that most players never reach those tiers. The lower levels offer modest returns, and the criteria for advancing into the premium VIP levels remain opaque. For the average regular player, the VIP system can feel like watching a party through a window they cannot open.
ZunaBet opens the door to everyone from the start. The dragon evolution loyalty programme publishes six clear tiers — Squire at 1% rakeback, Warden at 2%, Champion at 4%, Divine at 5%, Knight at 10%, and Ultimate at 20%. A dragon mascot called Zuno evolves alongside the player. Higher tiers bring up to 1,000 free spins, VIP club access, and double wheel spins.
No invitations required. No hidden thresholds. No ambiguity about what each level provides or what it takes to get there. Every player knows their current rakeback rate and can see exactly what advancing to the next tier will earn them. For the broad middle of the crypto gambling market — players who are active and loyal but not wagering at extreme volumes — ZunaBet’s transparent system delivers better accessible value than Stake’s top-heavy VIP structure.
Content: Signature Games vs Massive Variety
Stake built a unique identity through its Originals collection. Games like Crash, Plinko, and Mines are instantly associated with the brand and offer a gameplay experience that third-party content does not replicate. That identity has value, and the Originals remain a genuine draw for many crypto gamblers.
ZunaBet does not offer proprietary games. Instead, it offers 11,294 titles from 63 providers — a library that dwarfs what Stake makes available from external studios. The trade-off is clear: Stake gives you unique games you cannot find elsewhere, while ZunaBet gives you a volume of content that no single competitor matches.
For players who specifically seek out Stake Originals, that content remains exclusive to Stake. For everyone else — players who value variety, discovery, and access to the widest possible range of slots, live dealer games, and table games — ZunaBet’s library provides an experience that keeps delivering fresh content for months on end.
Crypto Infrastructure: Level Playing Field
On the payments front, these platforms compete on essentially equal ground. Both are crypto-native. Both support multiple coins. Both process transactions without platform fees. Both deliver fast blockchain-based withdrawals. ZunaBet edges ahead slightly on coin variety with over 20 supported cryptocurrencies including several that Stake does not natively support, but the core transaction experience is comparable.
This parity is precisely what makes the rest of the comparison so telling. When the payment infrastructure is equal, the value difference comes down to bonuses, games, and loyalty — and on all three, ZunaBet offers more to the average player.
Which Crypto Casino Earns Your Deposit
Stake built the template for crypto gambling and earned its position through years of brand building, innovative original games, and a sportsbook that competes with the best. For high-volume players who can access the upper VIP tiers, Stake still delivers personalised value that is hard to replicate. The Originals collection provides a unique flavour that no competitor has duplicated.
ZunaBet took that template and addressed its blind spots. A $5,000 welcome bonus where Stake offers nothing. Transparent rakeback up to 20% where Stake gates its best rewards behind opaque invitation thresholds. Over 11,000 games from 63 providers where Stake offers a smaller external library supplemented by proprietary titles. The same crypto payment speed with broader coin support.
For the whale-level player, Stake’s personalised VIP treatment may still hold appeal. For everyone else — and that includes the vast majority of crypto gamblers — ZunaBet delivers more welcome value, more accessible loyalty rewards, and more content to play through. In a crypto casino market that keeps growing in 2026, ZunaBet is the platform making the strongest case that the next generation of crypto gambling should be more generous, more transparent, and more packed with content than what came before.
Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.
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