Bitcoin treasury watch: Coffee sellers, chipmakers, and London financiers make BTC moves

Source Cryptopolitan

A quiet but powerful trend is taking shape across corporate boardrooms, as treasuries are piling into Bitcoin. Recent data reveals a surge in corporate adoption. From June 23 to 27 alone, 64 separate announcements referenced corporate Bitcoin activity. This involved over 10,000 BTC in total moving into treasury accounts.

This comes in when Saylor’s Strategy (formerly MicroStrategy) is on track for a casual $14 billion unrealized gain in Q2. All credit goes to BTC’s fresh rally. Despite generating just $112.8 million in revenue from its legacy software business, Strategy has outperformed even the largest S&P 500 corporations.

Macro fears drive Bitcoin treasury surge

With mounting macroeconomic uncertainty, inflation fears, and rising institutional acceptance of crypto, companies from Norway to London to Wall Street are steadily adding Bitcoin to their balance sheets. As per the data provided by NLNico, nine new corporate treasuries purchased nearly 5,900 BTC, while 21 existing holders added another 4,126 BTC last week.

He added that seventeen firms announced future treasury strategies while hinting at billions in upcoming buy-side pressure. Companies have already raised over $573 million explicitly for BTC acquisitions.

Bitcoin price has been quite steady over the last week, surging marginally and hovering around the $106K-$107K zone. BTC is trading at an average price of $107,381, below by just 4% from its all-time high of $112K. Its 24-hour trading volume spiked by 10% to hit $47 billion.

As reported, K33 AB, a digital asset brokerage and research firm, confirmed the purchase of 10 BTC for SEK 10 million (worth $1.49 million). This follows K33’s recent launch of a formal Bitcoin treasury strategy and a successful share issue aimed at funding the acquisition of up to 1,000 BTC. The firm now holds 35 Bitcoins.

Vaultz Capital PLC isn’t far behind. They’re looking to raise £1 million to fuel their Bitcoin ambitions. They’ve already raised £4 million, swapped it for 50 BTC, and now want to become a leading corporate HODLer.

MSTR up by 3,300%, who’s next?

The movement isn’t limited to startups, as Norwegian Block Exchange ($NBX.OL) raised NOK 5.4 million ($532,000) through a put option, partially allocated for Bitcoin purchases. However, Green Minerals inked a NOK 250 million ($25 million) structured financing agreement to expand its position. It already holds 4 BTC.

DDC Enterprise recently closed a massive $528 million financing package to fund its Bitcoin treasury strategy. This includes a $26 million private investment in public equity (PIPE), $25 million in convertible notes, and a $200 million equity line of credit. 

Similarly, Sequans ($SQNS) announced a $384 million strategic investment. This included $195 million in PIPE and $189 million in convertible notes, with execution support from Swan Bitcoin.

Smaller firms are also making bold moves in the Bitcoin race. UK-listed Anemoi ($AMOI.L) increased its BTC+Gold ETF exposure to 40% of its cash reserves. It cited concerns about the ballooning US fiscal deficit. On the other side, Coffee company Vanadi added another 10 BTC to bring its holdings to 64. 

The Smarter Web Company also acquired 230.05 BTC. It is now holding 773.58 BTC in total, with £38 million (worth $52 million) in reserve to potentially buy more.

Perhaps the most headline-grabbing development is from American Bitcoin Corp, a private company backed by Hut 8 and Eric Trump. The firm recently raised $215 million for its treasury strategy and currently holds 215 BTC.

This all started when Michael Saylor’s Strategy started the BTC accumulation race. Its shares are now up over 3,300% since the CEO first bet on Bitcoin in mid-2020. MSTR shares closed trading at $373 in the last session. However, it’s up by 2% in the pre-market session, hinting at hitting $381 when the market opens.

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