Corporates Continue to Buy Bitcoin

Strategy (formerly MicroStrategy), the largest public holder of Bitcoin, started a trend among companies when it began investing in BTC. Now, firms from all over the world are following Michael Saylor's example.

Corporate investors are buying more coins than issuers of spot exchange-traded funds (ETFs) based on the first cryptocurrency by market capitalization. And ETFs, in turn, are outpacing miners in the pace of Bitcoin purchases, who are not able to mine BTC.

Yesterday, July 2, five companies announced their purchases of cryptocurrency. Among them is the Chinese Addentax. Its representatives reported that they have revised their strategy: instead of the original plan to spend $800 million on BTC and the TRUMP memecoin, the company now intends to purchase 12,000 BTC for $1.3 billion. Addentax has changed its mind about buying the Trump “meme” token.$SOL $GNS