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Bitcoin, corporate treasuries and markets — original editorial analysis (19 articles)
Strategy hits five weeks without buying Bitcoin and lifts its dollar reserve to $3.75 billion
The July 27 8-K repeats for a fifth consecutive week that no Bitcoin was purchased. The position stays pinned at 843,775 BTC, yet the company raised $544.5 million net through its ATM in the same week and channelled all of it into its dollar reserve, now at $3.75 billion.
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Corporate treasuries pass 1.28 million BTC and post their biggest buying quarter
179 companies now hold 1,285,045 BTC — 6.12% of the 21 million maximum and around $82.78 billion at current prices. And while the largest of them all has gone five weeks without buying, the sector as a whole just recorded its biggest accumulation quarter: 110,000 to 115,000 BTC in Q2.
Bitcoin Standard Treasury (BSTR), Adam Back's treasury, enters the global top ranks before it even trades
The pure-play Bitcoin treasury led by Adam Back — Blockstream co-founder — debuts among the world's largest corporate treasuries with more than 30,000 BTC, despite still being pre-market. Its stock-market listing is structured as a merger with the SPAC Cantor Equity Partners.
Record ETF outflows, Bitcoin at half its all-time high and preferreds below par: the market picture as July begins
June 2026 closed as the worst month of flows for the US spot Bitcoin ETFs since daily records began: $4,601 million in net outflows, including a ten-session losing streak that didn't break until July 2. The price trades in the $63,000-64,000 zone, roughly half its all-time high, and the Strategy and Strive preferreds remain below par. And yet: 175 listed companies still hold 1.28 million BTC. Here are the signals to watch.
Strategy's (STRC) and Strive's (SATA) preferreds fall well below par value
STRC, Strategy's monthly preferred designed to trade pinned to $100, closed at 80.84 — 19% below par. Strive's SATA at 88.56. Both are structured to hug par and fund Bitcoin purchases via ATM; seeing them this far below is a sign of strain in the fixed-income machinery that underpins the accumulation.
Strategy sells Bitcoin for the first time since 2022 — then buys back 1,550 BTC a week later
The sale of 32 BTC to fund dividends on its STRC preferred triggered a 15% weekly drop in Bitcoin. A week later, Strategy bought back 1,550 BTC. Behind the move is a thesis almost no one is telling: inclusion in the S&P 500.
Treasuries buy the dip: record corporate accumulation with Bitcoin at half its all-time high
Bitcoin trades at $62,800, 50% below its all-time high. Meanwhile, corporate balance sheets are at a record: more than 1.27 million BTC held by public companies. The purchase data shows a clear pattern: lows in euphoria, highs in panic.
American Bitcoin reaches 7,021 BTC and posts its best mining quarter in Q1 2026
The US-listed company — a combined treasury-and-mining vehicle — added 1,620 BTC in three months (+30%), produced a record 817 BTC, and cut its mining cost to $36,200 per coin. The 22% drop in BTC price during the quarter weighs on the accounting result with an $81.8M net loss.
Spot Bitcoin ETFs string together nine sessions of net inflows and add $1.18 billion in three days
BlackRock's IBIT and Fidelity's FBTC concentrate the bulk of institutional flow. Bitcoin's price reclaims $80,000 at the May 4 close and total US spot Bitcoin ETF assets pass $100 billion. IBIT alone now manages more than $63 billion.
Strategy approaches one million Bitcoin: the math of a target now within reach
Michael Saylor's company buys 34,164 BTC in a single $2.54B operation, lifting its balance to 815,061 BTC. If it keeps the first-quarter pace, the million arrives in December.
Metaplanet funds its treasury with $50M in zero-coupon bonds: the Japanese playbook that sets the 'MicroStrategy of Asia' apart
The Tokyo-listed company announces a ¥8 billion issuance to accelerate its Bitcoin accumulation. Why zero-coupon bonds instead of the convertibles Strategy uses?
Strategy passes 766,000 BTC and widens its lead as the world's largest corporate treasury
MicroStrategy, rebranded as Strategy, confirms a new purchase of more than 15,000 BTC, cementing its position as the largest corporate Bitcoin treasury with over $29B in reserves.
Metaplanet posts a 310% BTC Yield in 2024, the highest of any listed treasury
The Japanese company, Asia's first corporate Bitcoin treasury, beats every relative-accumulation record with an annualised BTC Yield above 310% — well ahead of Strategy.
Standard 21 becomes the first Spanish Bitcoin-native corporate treasury
The Madrid-based company, currently private, is built from day zero to accumulate BTC as a strategic reserve rather than pivoting to Bitcoin from a prior operating business. It aims to lead the corporate Bitcoin ecosystem across the Spanish-speaking world.
Twenty One Capital debuts with 43,514 BTC backed by Tether, SoftBank and Cantor Fitzgerald
The new pure-play Bitcoin treasury, backed by three of the most influential players in finance, instantly becomes the third-largest corporate treasury in the world.
STRF, Strategy's 10% preferred, posts record volume in the secondary market
The fixed-income instrument issued by Strategy tops $500M of daily volume for the first time, cementing itself as the debt instrument with the greatest indirect Bitcoin exposure on the market.
Bitcoin reclaims $90,000 and revives appetite for corporate treasuries worldwide
After weeks of consolidation, Bitcoin tops the psychological $90,000 barrier again, lifting the value of corporate treasuries and renewing institutional interest in the accumulation model.
Capital B becomes France's first Bitcoin treasury company with 1,850 BTC
Paris-based Capital B replicates the Standard 21 model in France and positions itself as the reference for the corporate Bitcoin ecosystem in the French and francophone market.
El Salvador strengthens its sovereign Bitcoin fund with new daily buys, reaching 7,508 BTC
The Central American country, a pioneer in adopting Bitcoin as legal tender, keeps its daily-purchase strategy and expands its sovereign Bitcoin fund despite IMF pressure.
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