Public Companies Dive Deeper into Crypto Treasuries
A wave of cryptocurrency acquisitions by publicly traded companies swept through the market on Monday. Trump Media Group made headlines with a substantial Bitcoin purchase, while Strategy (MSTR) continued its accumulation of BTC. Mercurity Fintech Holding (MFH) also announced a significant investment in Solana (SOL).
Trump Media Leads the Charge with Bitcoin Investment
Trump Media & Technology Group (DJT), associated with Donald Trump, revealed a $2 billion investment in Bitcoin (BTC) and related assets. This move signifies a shift towards a crypto-focused treasury strategy, with Bitcoin holdings now representing a significant portion of the company’s liquid assets.
“We are rigorously implementing our publicly announced strategy and fulfilling our [B]itcoin treasury plan,” stated Trump Media CEO and President Devin Nunes.
The company also allocated $300 million for options related to Bitcoin. Trump Media intends to further expand its Bitcoin holdings and generate revenue to bolster its crypto reserves. Nunes emphasized that these assets will ensure the company’s financial freedom, protect against financial discrimination, and create synergies with their planned utility token for the Truth Social ecosystem.
Strategy Continues Bitcoin Accumulation
Following in the footsteps of Strategy, other companies are embracing Bitcoin treasury strategies. Strategy announced the purchase of 6,220 BTC for approximately $740 million, bringing their total holdings to 607,770 BTC. The average acquisition price is $71,756 per BTC.
More Companies Join the Crypto Trend
Other companies are also increasing their Bitcoin reserves:
- Sequans (SQNS) increased its Bitcoin holdings to 2,317 BTC after purchasing 1,264 BTC for around $150 million.
- Profusa (PFSA) revealed an agreement to raise $100 million for a Bitcoin treasury strategy, planning to begin acquisitions this week.
Altcoins Gain Traction
Programmable blockchain tokens are also attracting attention, particularly after the signing of the GENIUS stablecoin bill. This has improved market sentiment.
The Ether Machine plans to launch a $1.5 billion Ethereum treasury strategy after merging with Dynamix Corporation.
Solana Enters the Spotlight
Mercurity Fintech secured $200 million from Solana Ventures to launch a SOL treasury. The company aims to accumulate SOL, generate yield through staking, and invest in tokenized finance projects within the Solana ecosystem.
Other Companies with Altcoin Holdings
Several other public companies have notable altcoin holdings, including:
- SharpLink Gaming (SBET)
- BitMine (BMNR)
- Bit Digital (BTBT)
- DeFi Development Corp (DFDV)
- SOL Strategies
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