Big companies are piling into Bitcoin! Over just five days (July 14-19), a whopping $810 million worth of Bitcoin was added to corporate treasuries.
The Big Spenders
This wasn’t just a few small purchases. Several major players made significant moves:
- Michael Saylor’s Strategy: Snapped up a massive 4,225 BTC.
- Metaplanet: Added 797 BTC.
- Sequans (France): Bought 683 BTC.
- The Smarter Web Company (UK): Acquired 325 BTC.
Many other companies, both large and small, from countries including the US, Japan, France, Canada, Sweden and China, also joined the Bitcoin buying spree, with purchases ranging from hundreds to thousands of BTC.
New Kids on the Block
It wasn’t just existing Bitcoin holders expanding their holdings. Four companies launched brand new Bitcoin treasury plans, investing a combined $99 million:
- Bullish: $92 million
- Satsuma Technology: $3.37 million
- BTC Digital: $1 million
- Active Energy: A smaller amount, less than 1 BTC
Additionally, several companies announced plans involving mining deals and token swaps.
Future Plans: A Bitcoin Bonanza
The buying frenzy isn’t over! Seventeen companies revealed plans to add a further 44,200 BTC in the coming months. Some notable examples include:
- Bitcoin Standard Treasury Company: Aiming for roughly 30,000 BTC.
- Volcon: Planning a $500 million Bitcoin strategy.
- Click Holdings: Allocating $100 million to Bitcoin and SUI.
- OFA Group and Cycurion: Announced plans for $100 million and $10 million crypto treasury plans respectively.
Funding the Future
Eleven companies also secured funding specifically for future Bitcoin purchases, totaling approximately $47 million.
The Bottom Line
In short, it was a huge week for Bitcoin adoption by corporations. With massive investments and ambitious future plans, the cryptocurrency continues to attract significant attention from the corporate world. At the time of writing, Bitcoin was trading around $117,995.