In the past week, non-mining publicly listed companies have increased their Bitcoin holdings by an additional $275 million, with many large enterprises continuously buying Bitcoin despite market volatility.
The increased accumulation of Bitcoin by institutions reflects long-term confidence in this asset, raising their total Bitcoin holdings to over 666,220 coins, valued at nearly $72.3 billion, accounting for 3.35% of the overall circulating market capitalization.
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Recently, non-mining publicly listed companies have increased their investments in Bitcoin by $275 million.
Major enterprises from Japan, the UK, and France all have notable purchasing activities.
The total number of Bitcoins held by these companies reaches 666,220 coins, accounting for 3.35% of the market capitalization.
How have non-mining publicly listed companies increased their Bitcoin holdings in the past week?
Data from SoSoValue shows that these companies have expanded their holdings by an additional $275 million in the recent week – a sign that institutional confidence in Bitcoin remains strong despite market fluctuations.
This increase in holdings comes amidst some companies suspending Bitcoin purchases after a streak of 13 consecutive weeks of holding, indicating that the long-term holding strategy remains a priority. According to CEO Michael Saylor, 'sometimes you just need to hold onto the asset tightly.'
Bitcoin is a digital asset that organizations need to be consistent with; long-term holding is the optimal strategy in times of short-term volatility.
Michael Saylor, CEO of MicroStrategy, July 2024
Which companies have had the most notable Bitcoin transactions recently?
Japan leads with Metaplanet having purchased an additional 2,205 Bitcoins worth about $239 million, bringing its total Bitcoin holdings to 15,555 coins. This decision reflects the company's confidence in the long-term growth potential of cryptocurrency.
In Europe, The Smarter Web (UK) and Blockchain Group (France) respectively purchased an additional 230 and 116 Bitcoins, showing a trend of cryptocurrency accumulation spreading among multinational companies.
How does DayCook in the USA plan to purchase Bitcoin from the new fundraising round?
DayDayCook, a food service company, has just completed its first fundraising round of $53 million and plans to use these funds to buy Bitcoin, showing that the future application of cryptocurrency is being considered across various industries.
What is the total value of Bitcoin held by non-mining publicly listed companies?
Currently, these companies collectively control approximately 666,220 Bitcoins, reflecting a market loss of about $72.3 billion. This figure accounts for 3.35% of the global circulating Bitcoin market capitalization, demonstrating the important position of institutions in the cryptocurrency ecosystem.
% of Bitcoin held by institutions is gradually becoming an important metric for assessing the acceptance and sustainability of the cryptocurrency market.
Cryptocurrency market analysis group, June 2024 report
What differences do large companies holding Bitcoin have in terms of scale and strategy?
Company Bitcoin Holdings (coins) Estimated Investment Value (USD) Metaplanet (Japan) 15,555 239 million Additional purchase, long-term hold The Smarter Web (UK) 230 3.5 million Additional purchase Blockchain Group (France) 116 1.8 million Additional purchase DayDayCook (USA) Not specifically disclosed Expected $53 million fundraising Intended to use capital to buy Bitcoin
Frequently Asked Questions
Why are non-mining companies increasing their Bitcoin purchases at this time? Since Bitcoin is seen as a safe-haven asset with long-term growth potential, organizations are intensifying their accumulation to diversify their portfolios and protect value. What percentage of the market do these companies' current Bitcoin holdings represent? These companies currently hold about 3.35% of the total global circulating Bitcoin market capitalization, equivalent to nearly $72.3 billion. What is special about the Bitcoin investment strategy of these companies? Many companies prioritize long-term holding and gradually accumulate purchases, expecting price increases in the future despite short-term volatility. How will DayDayCook utilize the newly raised funds in relation to Bitcoin? The company plans to use $53 million from the fundraising round to buy Bitcoin, indicating the expansion of cryptocurrency applications into diverse sectors. What makes Metaplanet more aggressive in buying Bitcoin compared to other companies? Metaplanet places trust in the potential for long-term growth and sees Bitcoin as a safe-haven asset during times of economic instability.
Source: https://tintucbitcoin.com/bitcoin-nhan-rong-275-trieu-usd-tu-ddc/
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