Paraguay Denies Bitcoin Adoption Claim Following Presidential Account Hack
In a surprising turn of events, Paraguay's government has dismissed a tweet from President Santiago Peña's X account that announced the country's adoption of Bitcoin as legal tender and the creation of a $5 million reserve. The unauthorized post, which included a Bitcoin address and encouraged investors to "secure your stake," was quickly disavowed within an hour of its appearance. This incident highlights the ongoing risks of high-profile account takeovers targeting cryptocurrency investors. As of June 2025, the cryptocurrency market remains vigilant against such fraudulent activities, emphasizing the need for robust security measures in the digital asset space.
Paraguay Dismisses Presidential Bitcoin Announcement as Hack
Paraguay's government has disavowed a post from President Santiago Peña's X account claiming the country adopted Bitcoin as legal tender and established a $5 million reserve. The tweet, which included a Bitcoin address and urged investors to "secure your stake," was declared unauthorized within an hour of appearing.
This incident follows a pattern of high-profile account takeovers targeting cryptocurrency investors. Hackers frequently use compromised accounts to promote fraudulent schemes—either soliciting direct transfers to controlled addresses or pumping artificially inflated tokens before cashing out.
The breach underscores persistent security vulnerabilities in digital asset markets, even at institutional levels. While Paraguay's swift denial mitigated potential fallout, the event highlights how social media remains a critical attack vector for crypto-related scams.
Bitcoin Holds Firm Above $106K Amid US Political Unrest
Bitcoin continues to demonstrate resilience, trading steadily above $106,000 despite escalating political tensions in the United States. Over the weekend, BTC reached $106,332, with market observers eyeing a potential test of the $107,000 resistance level. The cryptocurrency's stability contrasts sharply with the turmoil in Los Angeles, where immigration protests turned violent, prompting a significant National Guard deployment.
The market's muted reaction to domestic US unrest underscores Bitcoin's evolving role as a safe-haven asset. Price movements remained contained within a $105,043-$106,332 band, reflecting investor confidence that localized political events won't disrupt broader crypto market dynamics. This price action reinforces Bitcoin's growing decoupling from traditional risk-off sentiment.
Bitcoin Surges to $108K Amid High-Stakes Leveraged Trade and Macro Tailwinds
A newly created wallet, tagged 0x1f25, deployed $10 million in USDC to open a 511.5 BTC Leveraged long position at $106,538 on Hyperliquid, a decentralized exchange favored by high-risk traders. The 20x leveraged bet risks liquidation at $88,141 but has already yielded an $11,000 paper profit as Bitcoin climbed to $108,000. Speculation points to James Wynn, a trader known for aggressive positions, as the orchestrator—a potential comeback after a $120 million loss in late May.
Bitcoin's rally aligns with broader market optimism. Easing U.S.-China trade tensions and bullish equity forecasts from JPMorgan and Citigroup have fueled risk-on sentiment across assets. Gold and equities rose in tandem with BTC, underscoring crypto's growing correlation with traditional markets. The narrative of institutional adoption and macroeconomic détente continues to dominate.
Michael Saylor’s Strategy Expands Bitcoin Holdings with $110 Million Purchase
MicroStrategy has added another 1,045 bitcoin to its corporate treasury, spending $110.2 million at an average price of $105,426 per coin. The acquisition, executed on June 9, 2025, reinforces the company's unwavering commitment to Bitcoin as a primary reserve asset.
The firm's total holdings now stand at 582,000 BTC, acquired for $40.79 billion. At current market prices, this position is valued at over $62.64 billion—representing a 17.1% yield year-to-date. Michael Saylor's aggressive accumulation strategy continues unabated despite Bitcoin trading at historically elevated levels above $100,000.
Market observers note these institutional purchases provide structural support for Bitcoin's price floor. The transaction was documented through standard SEC filings, maintaining MicroStrategy's transparent approach to corporate Bitcoin adoption.
Bitcoin Reclaims $110k Amid Institutional Demand and ETF Inflows
Bitcoin surged past $110,000, recovering from last week's downturn as institutional investors doubled down on crypto exposure. The rally was fueled by robust spot ETF inflows, easing macro tensions, and renewed risk appetite across financial markets.
BlackRock and Fidelity's Bitcoin ETFs have absorbed over $11 billion in seven weeks, accelerating BTC's integration into mainstream portfolios. Exchange reserves continue shrinking—a bullish signal of tightening supply even as prices appreciate.
Geopolitical de-escalation between the US and China, coupled with corporate treasury acquisitions, provided additional tailwinds. The cryptocurrency now tests key resistance levels after earlier failing to sustain gains above $108,000.
Paraguay Government Denies False Bitcoin Legal Tender Claims
Paraguay's government has swiftly refuted social media rumors claiming Bitcoin's adoption as legal tender. A viral post falsely asserted the country had established a $5 million BTC reserve and granted BTC official currency status. The presidential office issued an immediate denial, urging citizens to disregard unverified information.
Authorities emphasized no such policy decision exists and cautioned against cryptocurrency scams circulating online. The incident highlights growing challenges of misinformation in digital asset markets, particularly around sovereign crypto adoption narratives.
