Here’s what happened in crypto today
Today in crypto, US House Speaker Mike Johnson batted away concerns over Donald Trump’s memecoin dinner, Strategy co-founder Michael Saylor hints at another Bitcoin buy, Pakistan allocated 2,000 megawatts of surplus electricity to Bitcoin mining and AI centers.
Speaker Johnson shrugs off Trump crypto dinner concerns
US House Speaker Mike Johnson brushed off concerns on President Donald Trump’s dinner for the top holders of his memecoin when speaking to CNN on May 25 and dodged answering whether the attendees should be made public for transparency.
“We do not know who was there. The list has not been released. We do not know how much of the money came from outside the country,” CNN’s Jake Tapper told Johnson. “I really have a difficult time imagining that if this was a Democratic president doing the exact same thing, you wouldn’t be outraged.”
“Look, I don’t know anything about the dinner,” Johnson answered, claiming he “was a little busy this past week,” focusing on passing a $1.6 trillion federal budget funding bill.
He added he was “not sure who was there or what the purpose was” before claiming Trump is “the most transparent president” in history and “has nothing to hide.”
Trump invited the top 220 largest holders of his Official Trump (TRUMP) memecoin to a dinner on May 22 at the Trump National Golf Club in Virginia, but kept the guest list secret, with critics concerned that foreign nationals could have used the event to pay for access to the president.
Strategy co-founder Michael Saylor signals impending Bitcoin purchase
Strategy co-founder Michael Saylor hinted at an impending Bitcoin purchase by posting the Bitcoin (BTC) chart the executive typically posts on Sundays to signal that the company will acquire more Bitcoin the following day when traditional financial markets open.
“I only buy Bitcoin with money I can’t afford to lose,” Saylor wrote to his 4.3 million followers in an X post.
According to data from SaylorTracker, the company holds a total of 576,230 BTC, valued at over $62.5 billion, and is up over 55.5% on its investment, representing unrealized gains of over $22 billion at the time of this writing.
The company continues to be closely watched by investors as a proxy for Bitcoin and a barometer for institutional adoption of the scarce digital asset.
Pakistan allocates 2,000MW power for Bitcoin mining and AI centers
Pakistan has allocated 2,000 megawatts of surplus electricity exclusively for Bitcoin mining and artificial intelligence centers.
The move is part of a broader digital transformation plan spearheaded by the Pakistan Crypto Council and backed by the Ministry of Finance, according to a May 25 report by local news outlet 24NewsHD TV Channel.
In the first phase, the government plans to channel excess power into AI infrastructure and crypto mining operations. Finance Minister Muhammad Aurangzeb said the decision is expected to attract billions in foreign investment while generating high-tech employment across the country.
The initiative’s second phase will introduce access to renewable energy for mining operations, aiming to balance growth with environmental responsibility.