Two corporations have added a total of about USD 640 million to their Bitcoin treasuries in the past week. For anyone following the crypto / Bitcoin market, corporations massing Bitcoin is a trend to follow closely. They are literally making Bitcoin deflationary by outpacing the supply side made by mining.
The Nasdaq-listed Strategy – the world’s first and largest Bitcoin treasury firm – added 4,980 BTC for $531.1 million this past week according to a June 30 filing with the US Securities and Exchange Commission (SEC). This brings its total holdings to 597,325 BTC, now valued at over $64 billion. With the firm typically buying Bitcoin every week, this will likely surpass 6,000 BTC in another week. This firm is a serious machine.
“Leave some for the rest of us”
A lesser known company out of Japan, Metaplanet, added 1,005 BTC to its treasury this past week, making it now the fifth-largest public Bitcoin holder. The investment firm now holds 13,350 BTC worth about US$1.4 billion on current market prices. The firm aims to accumulate over 210,000 BTC by the end of 2027.
In response to a $1 billion Bitcoin buy by Strategy in June, Metaplanet’s CEO jokingly posted on X to Strategy’s chairman Michael Saylor: “Leave some for the rest of us.”
While Strategy remains dominant with over 580,000 BTC, the entrance of firms like Metaplanet signals a diversifying ecosystem of corporate holders, with approximately 70 publicly-listed companies now holding Bitcoin as a treasury asset.
Not enough Bitcoin
Analysts estimate that this corporate Bitcoin adoption trend could bring an additional $330 billion in capital into the Bitcoin market over the next four years, potentially creating significant price pressure due to Bitcoin’s limited supply of just 21 million. To put that into context, there is not enough Bitcoin for every US dollar millionaire on the planet to hold just 0.35 BTC. Corporations such as Strategy and Metaplanet contend that Bitcoin will eventually replace Gold as the largest reserve asset in the world.
Access Crypto’s Gold versus Bitcoin data monitoring fund has Bitcoin up 1.23% versus Gold on the month, and 1.95% up on the week.