A huge number of companies are planning to buy or buy Bitcoin today, driving the global trend in corporate acquisitions. It is unclear how this growth movement will affect the BTC ecosystem.
Last week, the public company spent $275 million on BTC, and Metaplanet alone has almost equal this amount. Strategy, Semler Scientific, Genius Group and more are committed today.
Companies continue to buy bitcoin
Many companies around the world are buying and stockpiling Bitcoin, and even BTC ETF publishers are outstriking their appetites. Today alone, several companies have announced plans to implement large-scale new acquisitions or implement them, providing a sense of trends at scale. Strategy (formerly MicroStrategy) for example plans to raise $4.2 billion for BTC purchases.
According to the company’s press release, the strategy is planning to sell a huge amount of STRDs to provide more Bitcoin. The company has purchased over $1 billion in BTC several times this year, and this massive commitment is beyond all of them. A strategy is to plan a truly huge purchase while other companies run small companies.
Metaplanet, one of the top five public companies in Bitcoin Holdings, purchased 2,205 BTC today. At current prices, the spending amounts to approximately $238.8 million. Last week, Metaplanet was nearly outperforming this in a day, as all of its acquisitions totaled $275 million. For some reason, the trend may be accelerating.
If appropriate, the Genius Group has raised its BTC stockpile target, which had previously been aiming for 1,000, to 10,000 today. Last week, the company will spend $2.1 million on Bitcoin and will use a “balanced combination of funding sources” including revenue, BTC yields and stock sales to significantly expand its business.
These are some of the most ambitious companies, but the number of whales in aspiring companies is growing rapidly. DDC Enterprises announced today it would purchase 230 Bitcoin, but the company only owns 122 in advance. Semler Scientific spent $20 million on the acquisition and maintained a pace for steady growth. Some more companies bought small quantities.
All these companies leave one question for their communities: What can this action do to Bitcoin? In particular, some experts have already caused the fear of the bubble, as some of these corporate holders outweigh the BTC itself. It is difficult to predict how the market will respond to this trend, but one thing seems clear.
These companies are speeding up and not slowing down.
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