Corporate purchases of bitcoin continue despite inflation, market uncertainty, and new risks for corporate balance sheets. The American company Strive announced three major BTC purchases in just eight days, with its total reserves climbing to more than 36,000 bitcoins worth over $3 billion. Meanwhile, the giant Strategy added another 267 BTC, reaching a new all-time high. What’s driving this continued accumulation, and what obstacles could complicate matters for both players?
Don’t miss: Over 50,000 Europeans pressure the EU over stablecoins
Strive’s lightning offensive: Three massive purchases in eight days
Strive has significantly accelerated the pace of its purchases, with CEO Matt Cole announcing the acquisition of another 1,223 BTC at an average price of $81,734 per coin. This brought Strive’s total reserves up to 36,818 BTC, which at a market price of around $82,000 represents a value exceeding $3 billion. With this move, the company capped off an extraordinarily active period during which it carried out three major acquisitions in a row.
The buying spree began with the acquisition of 3,311 BTC, the second-largest purchase in the company’s history, immediately followed by another 2,822 BTC for roughly $235 million. In terms of the pace of reserve growth, Strive has recently even outpaced the market’s long-standing leader. Despite this rapid expansion, however, Strategy still maintains a lead of more than 23 times, and its position as the largest corporate holder remains unshaken.
Read also: yPredict: A revolutionary platform for cryptocurrency prediction
Strategy’s record balance sheet and the risk of exclusion from MSCI indices
Strategy, led by Michael Saylor, responded by purchasing another 267 BTC, pushing its total holdings to a record 848,517 BTC worth tens of billions of dollars. Beyond bitcoin itself, the company also focused on managing its own capital structure — it bought back $193 million worth of its STRC preferred stock and increased its share buyback program to $3 billion.
However, this ongoing accumulation does not come without risks. MSCI has finalized new rules for companies holding large cryptocurrency reserves, and according to JPMorgan estimates, a potential exclusion from the indices could trigger an outflow of up to $2.8 billion from passive funds. The real test for both companies, then, will not just be the volume of coins purchased, but above all their ability to withstand the sensitivity of their balance sheets in the event of a prolonged market downturn.
You might also like: Bitcoin awaits the Fed
Sources:
Photo source: Adobe Stock
