Corporate Bitcoin buying went into overdrive last quarter, with companies gobbling up 95,000+ BTC worth $5.9 billion. MicroStrategy led the charge, dropping $1.9 billion and now holds a whopping 528,185 Bitcoin. Twelve new players joined the game, including Lead Benefit and Rumble, while Hong Kong emerged as a fresh crypto hub. Despite Bitcoin’s wild price swings between $73,740 and $53,900, these firms kept stacking – and there’s more to this story.
MicroStrategy, the undisputed king of corporate Bitcoin hoarding, dominated the buying spree. They dropped a cool $1.9 billion in their largest quarterly splurge yet, accounting for 97% of tracked corporate purchases.
But they weren’t alone in this feeding frenzy. Twelve new companies jumped into the Bitcoin pool for the first time, including Hong Kong‘s Lead Benefit with an 833 BTC purchase.
With 528,185 Bitcoin holdings, MicroStrategy continues to lead by example and inspire other corporations to invest in cryptocurrency.
Speaking of newcomers, video platform Rumble grabbed 188 BTC in March, while HK Asia Holdings saw its stock price double in a single day after announcing its Bitcoin purchase. Talk about a warm welcome to the crypto club.
Newcomers are making waves: Rumble snags 188 BTC while HK Asia Holdings doubles its value after joining the Bitcoin party.
The corporate Bitcoin buying continued even as prices whipsawed between $73,740 and $53,900, suggesting these firms aren’t easily spooked by volatility.
The geographic spread is telling, with Hong Kong emerging as a hotbed for new Bitcoin-hungry corporations. U.S. and European companies remain active players, but Asia’s growing appetite is impossible to ignore.
These corporations aren’t just chasing profits – they’re viewing Bitcoin as a serious alternative to cash for treasury management. The combined corporate holdings reached a staggering value of $56.7 billion by quarter’s end.
What’s driving this corporate feeding frenzy? MicroStrategy’s success story certainly helps, but there’s more to it. Recent ETF approvals, clearer regulations, and growing concerns about inflation have boards of directors seeing Bitcoin in a new light.
The total corporate stash now represents more than 1.4% of Bitcoin’s circulating supply, making these companies significant players in the market.
And with 79 public companies now holding Bitcoin, this corporate accumulation trend shows no signs of slowing down.
