Corporate Bitcoin Acquisition Increases as These Firms Plan BTC Buys

A huge number of companies bought or planned to buy Bitcoin today, displaying an accelerated global trend of corporate acquisition. It’s unclear what impact this growing movement will have on $BTC’s ecosystem. Last week, public firms spent $275 million on $BTC, while Metaplanet alone nearly equaled this amount. Strategy, Semler Scientific, Genius Group, and more also made commitments today. Companies Keep Buying Bitcoin A growing number of companies around the world are buying and stockpiling Bitcoin, outpacing even the $BTC ETF issuers in their appetites. Today alone, several firms have announced massive new acquisitions or plans to carry them out, providing a sense of the trend’s massive scale. For example, Strategy (formerly MicroStrategy) is planning to raise $4.2 billion for $BTC buys: According to the company’s press release, Strategy plans to sell a vast quantity of STRD, a new stock offering, to afford more Bitcoin. The firm has purchased more than $1 billion in $BTC several times this year, but this massive commitment exceeds them all. Strategy is planning a truly gargantuan buy while other companies are executing smaller ones. Metaplanet, one of the top five public companies by Bitcoin holdings, purchased 2,205 $BTC today. At current prices, that would put its expenditure around $238.8 million. Last week, all the corporate acquisitions put together totaled $275 million, so Metaplanet nearly exceeded this alone in one day. For whatever reason, the trend may be accelerating. Case in point, Genius Group increased its goal for a $BTC stockpile to 10,000 today when it previously aimed for only 1,000. Last week, the company spent $2.1 million on Bitcoin, and it plans to use a “balanced mix of funding sources,” including revenues, $BTC yields, and stock sales, to significantly expand its operations. These are some of the most ambitious firms, but the number of aspiring corporate whales is growing at a fast rate. DDC Enterprises announced a purchase of 230 bitcoins today, while the company only held 122 beforehand. Semler Scientific spent $20 million on acquisitions, maintaining a fast pace for steady growth. Several more companies bought smaller amounts. All these companies are leaving the community with one question: what could this behavior do to Bitcoin? Some experts are already raising fears of a bubble, especially because some of these corporate holders are outperforming $BTC itself. It’s difficult to predict how the markets will react to this trend, but one thing seems clear. These firms are speeding up, not slowing down.