Performance Update

As of June 2025, Bursera Capital's total ROI has reached 1228.62%* since the fund's inception in 2019, with Bitcoin standing at 931.08% and the average fund reaching 582.09%. Returns are -1.78%*, with the average fund reporting 12.00% and Bitcoin at 2.15%. Our Compound Annual Growth Rate (CAGR) of 52.73%* continues to lead both Bitcoin (34.63%) and the average fund (45.74%).

Market News

Key takeaways from this month's market activity:

• Bitcoin builds momentum toward $120,000 as technical indicators align favorably, Federal Reserve officials turn dovish on interest rates, and oil price declines reduce inflationary pressures.
• Senate Banking Committee Chairman Tim Scott establishes a September 30 deadline for comprehensive crypto market structure legislation, splitting the difference between President Trump’s August goal and previous year-end projections.
• The cryptocurrency sector demonstrates resilience with a record $15.1 billion in year-to-date institutional inflows and major venture capital investments, despite ongoing security challenges and geopolitical tensions.
• Bernstein upgrades Coinbase’s price target 65% to $510, citing the exchange’s market dominance, regulatory clarity from the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, and expanding revenue opportunities.
• Partnerships between Coinbase-Shopify and Mastercard-Chainlink eliminate technical barriers to crypto payments, opening blockchain commerce to billions of consumers worldwide.

Bitcoin Primed for $120K Breakout as Key Market Forces Converge

Industry experts consistently forecast $120K as Bitcoin's anticipated peak this year.

The digital asset is building substantial upward momentum toward six-figure targets, with Bitcoin currently hovering near $107,000. Several converging trends are creating an increasingly favorable environment for the leading cryptocurrency, drawing heightened interest from both institutional money managers and individual investors as market fundamentals and policy conditions align for potential further gains.

• Sustained strength at $100K levels: The cryptocurrency has held firm above the critical six-figure mark even amid Middle Eastern conflicts and military escalations, with purchasing activity immediately appearing whenever prices briefly retreat below this key threshold.
• Smart money accumulation pattern: Trading data indicates retail panic selling has increased 29% since June 10th (from $74K to $95.6K levels), while strategic investors continue accumulating positions, demonstrating robust demand foundations rather than widespread pessimism.
• Technical indicators align favorably: Moving average convergence shows the 100-day line surpassing the 200-day benchmark, complementing an earlier bullish crossover between 50-day and 200-day metrics, forming an ascending trend pattern that previously supported the cryptocurrency's advance from $70K to $100K territory.
• Central bank stance softening: Previously hawkish Federal Reserve officials Michelle Bowman and Christopher Waller now advocate for July interest rate reductions, departing from Jerome Powell's traditional data-focused approach and suggesting broader monetary easing that historically favors digital assets.
• Commodity price relief emerges: Commodity price relief emerges: Crude oil markets plunged 6.5% daily and remain 15.4% below year-ago levels, eliminating inflationary concerns and bolstering arguments for monetary loosening by reducing ripple effects across transportation and production sectors.

Senate Sets September Deadline for Crypto Legislation as Political Dynamics Shift

Banking Committee Chairman accelerates timeline to September 30, splitting difference between Trump's August goal and year-end projections.

Crypto legislation timelines are crystallizing as Senate Banking Committee Chairman Tim Scott announced a September 30 deadline for comprehensive market structure legislation, establishing a more aggressive schedule than previously indicated. The South Carolina Republican's commitment comes as both chambers navigate complex political considerations around digital asset regulation, with the White House pushing for rapid passage of recently approved stablecoin legislation.

• Stablecoin breakthrough establishes groundwork: The Senate successfully approved the GENIUS Act with robust cross-party backing, achieving 68 total votes including 18 Democratic supporters, though Senator Lummis characterized the process as “a tooth-pulling exercise,” emphasizing the careful negotiations needed.
• September deadline splits the difference: Chairman Scott told White House crypto adviser Bo Hines that market structure legislation will be completed by September 30, later than President Trump's August target but earlier than Senator Lummis's previous year-end prediction, with Lummis agreeing to follow Scott's timeline.
• House maintains cautious approach: Representative French Hill, chairman of the House Financial Services Committee, declined to reveal whether the House will quickly approve the Senate's GENIUS Act, suggesting issues need resolution between the Senate bill and House stablecoin legislation.
• Agriculture Committee creates potential bottleneck: While the Banking Committee leads market structure efforts, the Senate Agriculture Committee must also weigh in on the complex legislation, though Lummis acknowledged the process hasn't been as urgent for that committee.
• White House pushes for immediate passage: Trump administration officials favor the House simply approving the Senate's stablecoin bill without modifications, with Scott emphasizing the president's mandate to move the GENIUS Act "immediately to his desk."
• Cross-chamber coordination challenges emerge: Despite Scott's assertion that both chambers are "one team," differing approaches between Senate urgency and House deliberation suggest potential delays in achieving unified legislative action on comprehensive crypto regulation.

Crypto Sector Balances Investment Growth with Security Risks as Confidence Persists

Paradigm backs new Decentralized Exchange (DEX) with $15M funding as crypto funds hit record $15.1B year-to-date inflows.

The cryptocurrency sector demonstrated remarkable resilience this week, with major investment announcements and record institutional inflows highlighting growing confidence in digital assets. Despite geopolitical tensions and some security challenges, crypto funds extended their positive streak to 10 weeks while venture capital continues flowing into innovative blockchain projects, underscoring the industry's fundamental strength and maturation.

• Paradigm leads $15M investment in speed-focused DEX: The venture capital firm exclusively funded Global Token Exchange's Series A round, backing a decentralized exchange built on MegaETH that claims to match centralized exchange performance while remaining fully non-custodial and permissionless.
• Crypto funds extend 10-week inflow streak: Global crypto funds attracted $1.24 billion last week despite geopolitical uncertainty, pushing year-to-date inflows to a record $15.1 billion, with Bitcoin and Ethereum funds leading at $1.1 billion and $124 million, respectively.
• OKX explores U.S. Initial Public Offering (IPO) following April relaunch: The global crypto exchange is considering a public offering just months after relaunching U.S. operations and settling $500 million Department of Justice (DOJ) charges, joining Kraken, Gemini, and Bullish in weighing American listings.
• Self Chain demonstrates corporate accountability: The blockchain project swiftly terminated CEO Ravindra Kumar after users accused him of orchestrating a multi-month Over-the-Counter (OTC) crypto scam, showing the industry's increasing willingness to self-police and protect investors.
• Enhanced security awareness grows: While a New York phishing ring targeting Coinbase users highlighted ongoing security challenges, on-chain investigators like ZachXBT continue developing sophisticated tracking methods that make recovery and prosecution more feasible.

Coinbase Positioned for Major Rally as Stablecoin Regulations Drive Growth

Investment firm raises price target 65% to $510 citing regulatory clarity, market dominance, and diverse revenue streams.

Coinbase shares are significantly undervalued, according to fresh analysis from Bernstein, which upgraded its price target from $310 to $510 per share, representing potential upside of over 45% from current levels around $349. The investment firm argues that negative sentiment around the crypto exchange has been misguided, pointing to the company's resilient market position and expanding opportunities in the evolving regulatory landscape.

• GENIUS Act passage unlocks stablecoin expansion: Senate approval of comprehensive stablecoin legislation provides regulatory clarity that should accelerate adoption of USD Coin and Coinbase’s payment infrastructure.
• European market access secured: The company's recent Markets in Crypto-Assets Regulation (MiCA) license approval grants access to operate across all 27 EU member states, opening a major new market while competitors face regulatory uncertainties.
• Base network gains institutional traction: Coinbase's Layer 2 blockchain solution is attracting major institutions including JPMorgan, creating new revenue streams beyond traditional trading fees.
• Dominant market share proves resilient: Despite increased competition, Coinbase has maintained its leading U.S. position through its compliance-first approach and strong brand recognition among institutional clients.
• Strategic acquisition expands capabilities: The May purchase of derivatives exchange Deribit enhances product offerings in sophisticated trading instruments, capturing growing institutional demand.
• Clean operational track record: Unlike competitors facing security breaches or failures, Coinbase’s zero user fund losses have established it as the “safe haven” exchange for institutional crypto adoption.

Major Payment Platforms Drive Cryptocurrency Into Everyday Commerce

Coinbase-Shopify integration and Mastercard-Chainlink collaboration open blockchain commerce to billions of consumers.

Two landmark partnerships this month are accelerating cryptocurrency's transition from speculative asset to mainstream payment method. The collaborations between Coinbase-Shopify and Mastercard-Chainlink represent significant infrastructure developments that could fundamentally change how consumers and merchants interact with digital assets as regulatory clarity provides additional confidence.

• Shopify enables seamless USDC payments: The e-commerce giant, commanding 30% market share and serving over 700 million customers, now allows merchants to accept USDC payments with 24/7 settlement on Coinbase's Base blockchain, handling all technical complexity behind the scenes.
• Mastercard opens crypto access to 3.5 billion cardholders: Through partnership with Chainlink's Swapper Finance, Mastercard users can purchase cryptocurrency directly on decentralized exchanges using existing cards, eliminating the need for separate crypto wallets.
• GENIUS Act passage drives institutional confidence: Following Senate approval of stablecoin legislation, Coinbase shares rallied 16% while Circle surged 25%, confirming market expectations that regulatory clarity would accelerate adoption.
• USDC demonstrates payment scale: The stablecoin processes over $1 trillion in monthly payment volume globally with circulation growing 78% year-over-year, establishing proven payment infrastructure.
• Cost advantages attract merchants: Stablecoin payments cost less than 1% per transaction compared to traditional credit card fees exceeding 3%, offering significant savings alongside faster settlement.
• Technical barriers eliminated: Both partnerships abstract cryptocurrency complexity, allowing merchants to receive fiat currency and consumers to use familiar payment methods while benefiting from blockchain efficiency.

*Data from June 2025 subject to crystallization.