Breaking: Five Major Public Companies Just Doubled Down on Bitcoin This Week
Wall Street's institutional FOMO hits overdrive as five new corporate treasuries pile into BTC.
Who's buying the dip now?
While traditional finance scrambles to explain the 'speculative bubble,' these firms are quietly loading their balance sheets with digital gold. No apologies, no explanations—just cold, hard blockchain math.
Funny how the 'tulip mania' narrative evaporates when Fortune 500 CFOs start hedging against monetary debasement. Maybe Jamie Dimon will finally buy his first satoshi this decade.
Corporate Bitcoin Buys Continue
MicroStrategy apparently caught lightning in a bottle when it became a Bitcoin whale, as corporate actors around the world are joining it.
Right now, public firms are buying more BTC than ETF issuers, who are, in turn, outpacing global mining output. Just to illustrate how powerful this trend is, five companies announced substantial BTC acquisitions today:
“Addentax announced today that it has entered into a non-binding term sheet… to acquire up to 12,000 Bitcoins, significantly increasing the potential acquisition size from the originally discussed 8,000 BTC. proposed acquisition represents an aggregate market value of approximately $1.3 billion,” the firm claimed in a press release.
Addentax made headlines a month and a half ago when it pledged to spend $800 million on BTC and TRUMP. However, it looks like the plan has changed.
Today’s announcement directly referenced this prior plan, increasing bitcoin buys and cutting TRUMP out altogether. Apparently, many corporate actors are now focusing exclusively on Bitcoin maximalism.
Some firms like DeFi Development are replicating the strategy with altcoins, but BTC remains the king. Addentax’s massive pledge is today’s largest commitment, to be sure, but other corporate entities are definitely doubling down on Bitcoin:
H100 Group has added 47.33 BTC to our treasury.
Total holdings: 247.54 BTC. pic.twitter.com/IKkD7gBZo6
At a current price of $109,000, H100 is spending over $5 million on BTC. Mogo, a Canadian lending platform, authorized buying up to $50 million, while Genius Group, Singapore’s AI-powered corporate education group, acquired Bitcoin worth $2.1 million.
The Swedish K33 only bought 10 BTC, but that’s still a huge commitment.
All this corporate Bitcoin investment is raising concerns about a new bubble forming. Many crypto firms are outperforming the assets they hold, which looks extremely unsustainable.
How will DeFi continue operating if retail investors get priced out of the biggest cryptoasset?
Additionally, there’s another serious concern. Financial advisors are suggesting that every institutional investor acquire Bitcoin, but many corporate buyers are in much worse straits.
A growing number of companies are pivoting to BTC as their original Core business loses viability.
MicroStrategy itself pulled such a move, so it’s hardly unheard of. Still, unrealized losses and forced liquidations are major threats, especially to unwary actors. If Bitcoin’s price takes a tumble, it could spark crises for some of these corporate holders.
