Bitcoin held up better than expected after Binance hack, Strive CEO says

What happened: Strive CEO Matt Cole said Bitcoin held up better than expected after a $6.3 billion hack of Binance, and the breach did not change his long-term case for Bitcoin. Key numbers: Hack size $6.3 billion, the largest on record per Glassnode. Bitcoin traded near $77,400 on Saturday, about 4% below its price shortly before the attack. Why it matters: Cole said the decline was less severe than he expected given the breach's scale and broader market weakness, but said it is too early to call a bottom. He described an "early spring" recovery that could last six to nine months. Coverage: 3 outlets in 24h

Strive CEO Matt Cole said Bitcoin held up better than expected after a $6.3 billion hack of Binance, and the breach did not change his long-term case for Bitcoin.

Cole said the decline was less severe than he expected given the breach's scale and broader market weakness, but said it is too early to call a bottom. He described an "early spring" recovery that could last six to nine months.