70% Decline In Corporate Crypto Treasury Buying: What’s Going On?
A recent report from Bloomberg has unveiled a striking decline in corporate investment in crypto treasuries, highlighting a significant shift in this new trend that has considerably taken the market by storm throughout the year. Purchases by publicly traded digital-asset treasuries have plummeted dramatically, from 64,000 Bitcoin (BTC) in July to just 12,600 in August, with September’s figures currently at around 15,500. This drop represents a major 76% decrease from the fervor of early summer. Crypto Treasury Firms Valuation Sinks The broader cryptocurrency market has faced....
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It is Bitcoin’s technical characteristics that make it an ideal, diversified corporate treasury holding. Holding Bitcoin (BTC) in treasury will soon become a corporate standard. Wall Street firm MicroStrategy recently made headlines when it decided to allocate a large portion of its treasury to Bitcoin, buying over 21,000 BTC in August and almost 17,000 more in September, making its CEO, Michael Saylor, seem quite prescient already. MicroStrategy stock rallied just like BTC as well — by 50%. According to Saylor, Bitcoin was the best inflation hedge and store of value, and in his words,....
Genesis Global Trading released its Q1 report on April 28, with corporates leading trading volumes, accounting for $8 billion in spot trading alone. Leading full-service cryptocurrency prime broker Genesis Global Trading has seen spot trading treble in the first quarter. Corporate interest accounted for the biggest slice of trading, with Genesis attributing part of its success to its Bitcoin treasury product “Genesis Treasury”. The Q1 report released on April 28 revealed the firm had processed $31.5 billion in spot trading volume — a 287% increase from $8 billion in Q4 2020. It also saw....
Fold Holdings, a US-based Bitcoin (BTC) financial services firm, announced today the addition of 475 BTC to its corporate treasury. This acquisition positions Fold Holdings among the top 10 US public companies with the largest Bitcoin reserves. Fold Holdings Unveils Bitcoin Purchase Bitcoin adoption among corporations continues to snowball, as Nasdaq-listed Fold has acquired another […]
The Canadian member of KPMG’s global organization of independent firms bought bitcoin through Gemini for its corporate treasury.
In August, the volume of personally owned stock sold by corporate executives reached its highest level since 2015, followed by a 10% decline in the S&P500 in September.