As Bitcoin (BTC) is trying to hold above US$110k (AU$166k) and US spot BTC ETFs commenced buying again after a series of net outflows, other buyers are stepping in.
Michael Saylor’s Strategy (formerly MicroStrategy), Japan’s Metaplanet, and a new player in Hong Kong are all committing to buying more Bitcoin.
First up, a regular to the game, Saylor’s Tysons Corner, Virginia-based firm has, in true form, bought more BTC. This time they bought 1,955 BTC for US$217.4 million (AU$329.4 million) at an average price of US$111,196 (AU$168,488) per coin.
The average per-coin cost for the 638,460 BTC MSTR now holds is US$73,880 (AU$111,955) – which somehow prompted gold-bug and Bitcoin critic Peter Schiff to comment:
Anyway, not everyone is such a worrywart – certainly not Japan’s answer to MSTR, Metaplanet. CEO Simon Gerovich announced the purchase of another 136 Bitcoin for US$15.2 million (AU$23.04 million), bringing the total holdings to 20,136 BTC.
Related: Chainlink CEO Meets SEC, Signals Shift Toward On-Chain Asset Compliance
Ever since Metaplanet took a leaf out of Saylor’s playbook, it has shown strong conviction in its Bitcoin strategy.
In June, Metaplanet overtook Tesla as the seventh-largest corporate BTC holder, later rising to fifth place after surpassing CleanSpark, Riot Platforms and Galaxy.
And the third big Bitcoin buyer is Hong Kong crypto exchange HashKey. As one of the few licensed companies, they have just announced that they will create “Asia’s largest multi-currency DAT ecosystem fund for the global market”.
The fund, which will be financed via an initial US$500 million (AU$757.9 million) “first-phase fundraising target”, will mainly allocate to Bitcoin and Ethereum (ETH).
HashKey explained in a press release that the new DAT model gives institutions a regulated, efficient way to gain exposure to digital assets while channelling resources into major blockchain ecosystems like Ethereum.
Beyond providing capital, HashKey plans to take an active role in operating DAT companies and industry initiatives, aiming to create a self-reinforcing cycle of investment, adoption, value growth, and liquidity that blends financial returns with ecosystem development.
Related: Sora Ventures Launches Asia’s First $200M Bitcoin Treasury Fund
The post Global Bitcoin Strategy Accelerates with Major Corporate Buys and a $500M Crypto Treasury Fund appeared first on Crypto News Australia.
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