In the midst of recent market fluctuations, corporate treasuries continue to accumulate Bitcoin. Over the last week, more than 7,700 BTC were purchased, indicating sustained interest from institutional investors.
Corporations Increase Bitcoin Reserves
From August 18 to 24, at least 48 treasury announcements were recorded globally. Analysis shows that four new treasuries were established, collectively holding over 41 BTC. Additionally, 16 companies reported plans to increase their reserves, and 5 are planning to make more Bitcoin purchases.
Dynamics of Corporate Treasury Activity
On August 22, Japanese fashion brand ANAP Holdings increased its Bitcoin holdings by 6.26 BTC. On the same day, another Japanese company acquired 200 BTC, raising its holdings to 364.93 BTC. A legislative proposal was also registered in the Philippines for a strategic Bitcoin reserve, aiming to buy 2,000 BTC per year over five years.
Buying Strategies Amid Market Fluctuations
Corporations like MicroStrategy continued to actively accumulate Bitcoin, purchasing 3,081 BTC for $356.9 million at an average price of $115,829 per BTC. With current market fluctuations causing prices to drop more than 3% over the week, treasuries are accelerating their 'Buy The Dip' strategies.
Despite the decline in Bitcoin prices, corporate treasuries show confidence in this cryptocurrency by increasing their holdings. This may indicate a long-term perspective and a strategy based on current market conditions.
