The Bitcoin market witnessed a significant tightening of its supply-demand dynamics last week as two major publicly traded companies, Strategy and Metaplanet, collectively acquired a dominant share of newly minted coins. Their strategic purchases underscore a growing trend of corporate treasuries actively accumulating Bitcoin, effectively absorbing two-thirds of the new supply entering the market.
Strategy's Continued Bitcoin Dominance
Strategy, a prominent Bitcoin holder, further expanded its extensive portfolio by purchasing an additional 1,955 BTC for $217.4 million. This acquisition alone accounted for approximately 62% of all Bitcoin mined during the week, bringing the firm's total holdings to a staggering 638,460 BTC, valued at over $71 billion. Interestingly, this aggressive accumulation, largely funded through its at-the-market equity program and MSTR stock issuances, occurred shortly after Strategy was notably excluded from the S&P 500 index. Financial observers like Jim Chanos have also highlighted Strategy's increasing reliance on common equity over preferred stock to finance these large Bitcoin purchases.
Metaplanet Strengthens Asia's Bitcoin Foothold
Meanwhile, Tokyo-listed Metaplanet reinforced its position as a key Bitcoin accumulator in Asia, often referred to as the region's counterpart to Strategy. The firm added 136 BTC to its reserves for $15.2 million, demonstrating its commitment to an aggressive accumulation strategy that has yielded impressive returns year-to-date. Metaplanet's total Bitcoin stash now stands at 20,136 BTC, solidifying its significant presence and highlighting the expanding global corporate adoption of Bitcoin as a treasury asset.
