BTC Tops $60K After Fed Chair Comments; MSTR and ASST Surge Past 10%

Bitcoin crossed back above $60,000 on Wednesday, July 1, 2026, after Federal Reserve Chair Kevin Warsh signaled that the threat of persistent inflation had moderated, triggering gains across Bitcoin-linked equities. Strategy (MSTR) and Strive (ASST) each surged more than 10% intraday as markets responded to the Fed chief's remarks.

The cryptocurrency was trading near $60,171 during the afternoon session, up approximately 2.7% on the day. The 24-hour range ran from a low of $57,718 to a high of $60,474, with total trading volume reaching $26.68 billion for the session.

Warsh delivered his remarks at the European Central Bank forum in Sintra, Portugal, where he noted that inflation expectations tracked in surveys and bond prices had eased. He nonetheless cautioned that price growth remains above acceptable levels and reiterated the Fed's commitment to its 2% inflation target. 'We're going to deliver price stability,' Warsh said. Markets interpreted the tone as leaning dovish, pushing U.S. equities higher and pulling the dollar back from a weekly peak. Bitcoin and other risk assets tend to benefit from a weaker dollar environment.

Despite Wednesday's recovery, Bitcoin remains roughly 30% below its opening level for 2026 and more than $66,000 under its all-time high of $126,277. The asset's market capitalization stands near $1.2 trillion.

Bitcoin treasury stocks outpaced the underlying asset. Strategy, the software company that pivoted to a Bitcoin-holding strategy under Executive Chairman Michael Saylor, closed up close to 7.5% on the day after hitting an intraday high of 13%. Strive Asset Management's stock (ASST) climbed more than 10% at points during the session, reaching $12.02. Both companies are widely treated as leveraged proxies for Bitcoin price movement, meaning their shares routinely amplify the coin's daily swings.

Strive has been actively accumulating Bitcoin throughout 2026, building a treasury that now exceeds 16,000 BTC. The stock has risen more than 100% over the past three months.

Earlier in the week, Strategy released a new Digital Credit Capital Framework that included several significant corporate finance updates. The company raised the dividend on its STRC preferred shares to 12% and authorized up to $2 billion in share buybacks. The framework also introduced a bitcoin monetization program that permits limited BTC sales for specific corporate purposes.

Additionally, Strategy established a $2.55 billion U.S. dollar reserve earmarked to cover preferred dividends and debt interest payments. Board rules require that this reserve maintain at least 12 months of coverage at all times. The company specified that any bitcoin sales would be restricted to replenishing that reserve, funding dividends and interest payments when issuing equity is less favorable, or financing stock buybacks. Strategy reaffirmed that bitcoin remains its primary treasury asset.