Corporate ownership of Bitcoin is an accelerated trend. This is because five companies and Count made fresh acquisitions today. Some of these companies are making their first investments, while others are adding stockpiling.
Addentax is planning to spend $1.3 billion on Bitcoin and has revised its previous plans to commit $800 million to Trump and BTC. This obvious turn to maximalism is reflected in the broad swath of the corporation.
Corporate Bitcoin purchases continue
With corporate actors from all over the world taking part, it appears that MicroStratege caught lightning in the bottle when it became a bitcoin jelly.
Public companies currently purchase more BTC than ETF publishers. To demonstrate how strong this trend is, five companies have announced today’s substantial acquisition of BTC.
“Addentax today announced that it will acquire a non-binding term sheet to acquire up to 12,000 Bitcoin, significantly increasing the potential acquisition size from the 8,000 BTC originally discussed.
Addentax made the headline a month and a half ago, pledging to spend $800 million on BTC and Trump. However, it appears that the plan has been changed.
Today’s announcement directly references this previous plan, increasing Bitcoin purchases and cutting off Trump completely. Apparently, many business actors are currently focusing solely on Bitcoin’s maximalism.
Some companies, like Defi Development, replicate their strategies in Altcoins, but BTC is still king. Addentax’s massive pledge is certainly today’s biggest commitment, but other corporate entities are undoubtedly doubling Bitcoin.
At its current price of $109,000, the H100 is spending over $5 million on BTC. While Canadian lending platform Mogo has allowed purchases of up to $50 million, Singapore’s AI-powered corporate education group Genius Group has acquired $2.1 million worth of Bitcoin.
The Swedish K33 only bought 10 btc, but that’s still a big commitment.
All this corporate Bitcoin investment has sparked concerns about the formation of a new bubble. Many crypto companies are better than their assets, which can seem very unsustainable.
How will Defi continue to operate if retail investors get prices from the largest CryptoAsset?
And there is another serious concern. Financial advisors suggest that all institutional investors acquire Bitcoin, but many business buyers are in the worse straits.
More and more companies are pivoting to BTC as their original core businesses lose viability.
It’s hardly heard, as MicroStrategy itself has pulled such a move. Still, unrealized losses and forced liquidation are a major threat, especially for careless actors. If Bitcoin prices fall, it could create a crisis for some of these corporate holders.
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