The Bitcoin (BTC) treasury market is heating up fast. Between June 23 and June 27, companies made 64 big announcements related to Bitcoin purchases and future plans. During this period, nine new treasury buyers stepped into the spotlight.
New Institutions Add Nearly 6,000 BTC to Their Treasuries
Together, these new players purchased a combined 5,898 BTC. This wave of buying hints at growing confidence in BTC among corporations and funds.
ProCap BTC led the pack with a huge move. The company bought 4,932 BTC after raising $750 million. It is also waiting on a $1 billion merger, which would boost its Bitcoin strategy even more.
Bitcoin Treasury Corporation from Canada also joined. It purchased 771.37 BTC and will start trading on Monday. Another group, Bitcoin Treasury Capital, added 147 BTC and plans to go public soon.
Sixty Six Capital Inc took a smaller but notable step. The Canadian company bought 18.2 BTC directly and will convert an extra 113 BTC held through an ETF into direct holdings. This move is a shift toward holding actual Bitcoin rather than shares in a fund.
Smaller Firms Join Bitcoin Push as New Funding Signals Continued Corporate Adoption
Other companies made more modest moves. Mega Matrix Inc from Singapore acquired 12 BTC. Vaultz Capital in the UK purchased 10 BTC. Norway’s Green Minerals bought 4 BTC but has goals to own up to $1.2 billion in Bitcoin.
Digital Commodities also stepped in with 2 BTC, while Panther Metals purchased 1 BTC. The latter also aim to raise up to £4 million (about $5.37 million) for future buys.
Alongside these direct buys, 17 more treasury groups announced plans to join the trend soon. These future announcements could bring billions in extra buy pressure on Bitcoin.
Eleven separate plans are already in motion to buy even more Bitcoin, backed by around $573 million already raised. Also, twenty-one companies increased their holdings by 4,126 BTC.
Earlier, Michael Saylor’s Strategy bought additional $26 million in BTC. This mix of new and additional purchases, as well as future plans hints at a long-term wave of corporate adoption.
Bitcoin Gains Traction as Corporate Treasury Asset
Bitcoin continues to attract interest as a hedge and as a long-term store of value. Many companies see it as a way to protect cash reserves from inflation and global currency risks.
This recent surge in corporate buying activity shows that Bitcoin is moving beyond just retail investors. More public companies and private treasuries are now entering the space.
Their combined moves show a trend toward Bitcoin becoming a serious treasury asset on global balance sheets. The next few months could bring even bigger announcements and larger buys.
Paul
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others.
He holds a degree in Geophysics from OAU, Nigeria. When he’s not writing, he loves watching soccer and reading educative journals.
He can be reached via [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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