On Thursday, U.S. lawmakers introduced the American Reserve Modernization Act (ARMA) of 2026 to create a Treasury-run Strategic Bitcoin Reserve and a separate federal Digital Asset Stockpile for non-Bitcoin holdings. The proposal would consolidate custody of seized crypto and, citing Bitcoin Treasuries data, formalize management of 328,372 BTC valued at more than $25 billion while requiring BTC in the reserve to be held for at least 20 years.

Italian authorities say they dismantled a €1M+ ($1.1M) tax fraud scheme involving Bitcoin Ordinals and BRC-20 tokens, alleging one individual generated undeclared gains while also obtaining public subsidies they were not entitled to. Investigators say exchange KYC links and on-chain analysis let them reconstruct a full “inscription monetization cycle” and attribute multiple addresses to a single owner.

On May 21, 2026, Strategy's Michael Saylor told CNBC he views Bitcoin as having bottomed at $60,000 after an October peak near $125,000, describing the market as in a "spring" phase with potential for a rally. He also reiterated a long-range target of $21 million per BTC in 21 years and highlighted STRC figures including $10.5B raised in 10 months, a $24B annual run rate, and an 11.5% tax-deferred dividend.

Glassnode says 6.04 million BTC—30.2% of circulating supply—sits in wallets whose public keys have already been revealed after spending, a setup that concentrates potential quantum-related risk in large custodians. The dataset indicates exchanges hold about 1.66 million exposed BTC, while exposure varies widely by entity, from Binance's 85% to Coinbase's 5% of labeled balances.

CryptoQuant head of research Julio Moreno says Bitcoin's current setup resembles March 2022, with sentiment indicators leaning bearish despite limited short-term upside potential. BTC previously met resistance near the 200-day moving average around $82,000 and pulled back toward $76,000, while U.S. spot ETFs reportedly turned net sellers by about 4,000 BTC after buying up to 64,000 BTC in the prior 30 days.

Peter Schiff argued on May 21, 2026 that Michael Saylor's Strategy Bitcoin-treasury approach matches his definition of Ponzi finance because servicing the firm's 11.5% debt would require either selling Bitcoin or issuing new debt. He added that transparency does not legitimize the structure, while noting the critique does not address the scenario in which Bitcoin appreciates faster than the borrowing cost and removes the need for either exit path.

Glassnode data estimates 4.12 million BTC are exposed to quantum risk due to holder behavior such as address reuse, partial spending, and custody practices, exceeding the 1.92 million BTC tied to older script structures. Together, the two exposure buckets sum to 30.2% of all issued Bitcoin, with the larger share linked to key and address management rather than legacy code.

SpaceX disclosed in an SEC registration statement that it owns and controls 18,712 Bitcoin, valued at about $1.45 billion and carried at an approximate $661 million cost basis. The filing says the BTC is held via third-party custodians, helping explain why on-chain estimates had previously placed the company closer to around 8,000 BTC. The document also indicates the balance was unchanged from the end of 2024.