Bitcoin closed August at around $78,000, posting a 24 % gain in its best August since the +65 % recorded in 2017. U.S. bitcoin ETFs logged net inflows of $3.04 billion over nine consecutive sessions from August 17 to 27, including $606 million on August 20 alone for BlackRock’s IBIT. The price peaked at $81,300 on August 28 before dropping 3.3 % following Federal Reserve Chair Kevin Warsh’s Jackson Hole speech, which left the door open to rate hikes. The probability of a rate increase at the September 16 meeting rose to approximately 60 %. Michael Saylor announced that Strategy would resume purchases on Sunday August 30 after ten weeks of selling, now holding 840,447 bitcoins at an average cost of $75,385.
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