- Michael Saylor’s Strategy appears poised for another substantial Bitcoin purchase after acquiring over 1,000 BTC last week.
- Japanese firm Metaplanet has made one of its largest Bitcoin purchases, buying 1,112 BTC to reach 10,000 total coins, funded partly through a US$210 million bond sale.
- US Bitcoin ETFs experienced strong momentum with $1.3 billion in net inflows last week, now collectively holding 5.7% of Bitcoin’s total supply across 1.2 million coins.
- Institutional adoption continues expanding with Trump Media & Technology Group filing for their own Bitcoin ETF after receiving approval to invest over US$2.3 billion in capital.
It looks like Michael Saylor and his company Strategy (formerly MicroStrategy) are gearing up again to buy more Bitcoin. Following last week’s purchase of over one thousand Bitcoin, Saylor posted on Crypto Twitter over the weekend that “bigger dots are better”. That hints at yet another, maybe even larger BTC purchase.
The Bitcoin price has held steady over the past few days, despite geopolitical tension and the escalation between Israel and Iran.
Meanwhile, the Japanese equivalent of Strategy, Metaplanet, has made one of its largest Bitcoin acquisitions yet. The company bought a whopping 1,112 BTC and now holds 10,000 of the OG coin.
Simon Gerovich, CEO of Metaplanet, said their holdings have been acquired for a total US$947 million (AU$1.45 billion).
Metaplanet also approved a US$210 million (AU$323 million) bond sale to Cayman-based EVO Fund, with proceeds earmarked for Bitcoin purchases. While the company didn’t confirm if the 1,112 BTC was bought before or after the funding, the timing indicates a likely connection.
Related: Japanese Firms Double Down on Bitcoin: ANAP and Remixpoint Boost Holdings Beyond ¥17 Billion
US Bitcoin ETFs Did Well Last Week
The number of institutions buying Bitcoin as a treasury asset is increasing – and so is the scale of these purchases.
Net inflows into US spot exchange-traded funds (ETFs) are also intensifying again, with the last week seeing US$1.3 billion (AU$2 billion) in net inflows.
The US ETFs now hold a combined 5.7 per cent of the total Bitcoin supply, with 1.2 million coins. Unsurprisingly, BlackRock remains the largest holder, with 3.1 per cent of total supply – or 669,523 BTC.
The popularity of these ETFs is probably the main driver for the ETF filing of Trump Media & Technology Group, which is looking to offer a spot Bitcoin ETF of its own. As reported, the group just received approval to invest over US$2.3 billion (AU$3.5 billion) of capital – some of which will undoubtedly flow into BTC.
Related: Trump Rakes in US$57M From Crypto: Could Soon Exceed Golf Course Income
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