Companies across the globe have started actively investing in Bitcoin, making it the new favorite for corporate treasuries. This trend is growing in Europe, with companies from Sweden to London hedging their balances.
Bitcoin on EU Company Balance Sheets
Sweden's Bitcoin Treasury Capital has acquired 66 BTC after raising SEK 100 million (approximately $10.5 million). They announced their listing under the ticker BTC on Sweden’s Spotlight Stock Market.
British firm Vault Ventures added 1.86 BTC to its portfolio, bringing the total to 2.08 BTC. It also completed fundraising of £750,000 in Ethereum and £150,000 in Bitcoin.
Global Expansion of Michael Saylor's Strategy
Bluebird Mining has announced plans to start mining 'digital gold' and has raised its fundraising target to a minimum of £10 million ($13.7 million) for a Bitcoin strategy. Smarter Web Company raised £41.2 million for Bitcoin purchases.
Sixty Six Capital Inc. continues to make moves in line with Saylor via 18.2 BTC acquisition, and plans to convert ETF assets into Bitcoin.
Bitcoin Price Growth and the ETF Market
Amid growing interests in Bitcoin, its price surged by 27% over the last 90 days to reach $107,354. The Bitcoin ETF market is also active, recording a net inflow of $548 million on June 25.
The Strategy company remains the largest corporate holder of Bitcoin with approximately 592,345 BTC, which significantly increased MSTR's share value.
Major firms continue to follow the trend of investing in Bitcoin, reflecting increasing confidence in the cryptocurrency as a reliable asset. This trend may significantly alter the financial strategies of many companies globally.
