Key Takeaways:
Cryptocurrency companies are mobilizing billions to acquire Bitcoin during a significant price surge.
The number of publicly traded companies that possess Bitcoin has increased to 113, with a collective holding of over 800,000 BTC.
Prominent entities such as Trump Media, Blackstone, and DigiAsia are entering the trend of treasury acquisitions.
Digital asset firms are actively engaging the capital markets to raise substantial funds aimed at significant Bitcoin purchases, spurred by the cryptocurrency’s recent ascent to a historic high of $111,965 last week.
The price increase, which exceeded 50% since early April, has catalyzed a flurry of new listings and mergers as companies seek to gather resources amidst continued strong investor interest, as highlighted by a recent report from the Financial Times.
This week, Trump Media & Technology Group announced intentions to secure $2.5 billion to invest in cryptocurrency, aligning itself with an expanding number of firms following MicroStrategy’s successful strategy.
113 Publicly Listed Companies Hold Bitcoin
MicroStrategy, recently rebranded as “Strategy,” retains a staggering 580,000 BTC and boasts a market capitalization exceeding $100 billion, surpassing the current value of its Bitcoin assets.
Currently, 113 publicly traded companies own Bitcoin, a notable rise from 89 last April, with a total of over 800,000 BTC, valued at around $88 billion.
“Positive market dynamics are attracting capital,” Aaron Chan from Flow Traders remarked to the Financial Times.
“Investors are eager to position themselves ahead of the next Strategy.” This growing momentum coincides with this week’s annual Bitcoin conference in Las Vegas, a significant gathering of influential figures from finance, politics, and the crypto sector.
Among those participating is Twenty One Capital, established by Jack Mallers and supported by investors such as SoftBank, Tether, and Cantor Equity Partners.
The firm anticipates securing 42,000 BTC following a merger, leading to a valuation of $14.4 billion.
In parallel, Strive Asset Management, co-founded by former U.S. presidential candidate Vivek Ramaswamy, aims to raise up to $1.5 billion for its own Bitcoin acquisitions.
Bitcoin Treasuries Go Public
Several firms are utilizing mergers to expedite their public listings. American Bitcoin, partially owned by Trump’s sons, is set to merge with Gryphon Mining, which has experienced a remarkable 120% surge in its share value.
KindlyMD, the acquisition partner of Nakamoto Holdings, has experienced a staggering 540% increase since their merger announcement. Nakamoto’s CEO, David Bailey, expressed that their ambition is to “package Bitcoin” into forms that are readily available to institutional investors.
While the ongoing rally is generating excitement, analysts warn that rapid imitation could encounter challenges.
“The market needs to have faith in the strategy,” cautioned Patrick Bush from VanEck, emphasizing the unique advantages held by Strategy founder Michael Saylor. “His visibility in the public eye is crucial.”
Recently, the French crypto holding firm Blockchain Group declared plans to acquire an additional $72 million worth of Bitcoin, following a successful €63.3 million bond issuance, as part of its aggressive treasury expansion strategy.
On May 20, investment giant Blackstone made its inaugural move into the cryptocurrency market by purchasing shares in BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin exchange-traded fund.
As per a filing with the U.S. Securities and Exchange Commission, Blackstone acquired 23,094 IBIT shares as of March 31, valued at approximately $1.08 million.
Previously, shares of Indonesian fintech company DigiAsia Corp saw an increase of over 91% on May 19, following announcements about its plans to raise $100 million for Bitcoin acquisitions as part of a revamped treasury initiative.
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