Bitcoin recorded the largest single-week increase in dollar-based history last week. According to foreign media, Chief Executive Officer Stuart Matt Cole argued that the round was not just a short-term rebound, but that it could be a stronger bitcoin cycle.
By the close of last week, bitcoin had risen by $14,264 a week, reporting US$ 77,387, an increase of about 22.7 per cent a day. At the same time, United States spot bitcoin ETF recorded a net inflow of $1.92 billion in the week to August 21, the highest level since October 2025.
ETF, the return of funds pushes up the market.
The return of funds coincided with the upswing in prices, leading to a marked rise in market sentiment. The coded market fear and greed index has risen to 78, nearing the “extreme greed” zone, and has been high since December 2024.
It was reported that, following the expansion of the United States Treasury's Treasury debt buy-back programme, long-term United States debt yields had fallen, the United States dollar had weakened and bitcoin, gold and stock prices went up in tandem. Cole believes that this macro combination provides new support for bitcoin.
He concluded that the next 12 to 18 months could be a period of weakness, and that bitcoin had not really experienced such a macro-environment in the past. If the dollar continues to be under pressure, funds may continue to flow to assets that are more difficult to expand.
Bitcoin is stronger than gold again.
Cole also views the performance of bitcoin to gold as an important signal. The data show that at present 1 bitcoin is about 16.73 ounces of gold, rising to a high level since May.
In his view, the movement of bitcoin relative to gold sometimes reflected changes in the market cycle earlier than the dollar. In its version, bitcoin peaked in December 2024, ahead of its high-point in October 2025 in dollar terms.
This time, Cole's concern was that bitcoin went through both the dollar and the gold reference. In his view, if funding continued to increase scarce assets while bitcoin remained strong relative to gold, then more could flow to bitcoin.
Still holding bitcoin in Strive.
While making optimistic judgements, Cole admitted that bitcoin could still retreat after a rapid pull-up. He indicated, however, that even if adjustments were made, the buyout could return more quickly.
Strive continued to buy bitcoin earlier this year at the market underage. Reports indicate that the company purchased 2,500 BTCs between late May and early June at a cost of approximately $185.2 million at an average price of approximately $74,092. Subsequently, 759 BTCs were added in mid-June at a cost of approximately $50 million.
In addition, Strive expanded its financing plan in June to provide funding space for subsequent increases through two at-the-market plans to increase financing capacity by $4.2 billion. Cole indicated that if Bitcoin continued to grow as expected, too conservative could become a risk in itself.
Overall, the core judgement of this review article is that the weakening of the United States dollar, the rise in AI-era preferences for scarce assets, and the return of ETF funds are jointly reinforcing the new round of expectations for bitcoin.