Despite Bitcoin’s rise, major corporations like Meta, Amazon and Microsoft are steering clear of holding it in their treasuries, favoring stability over crypto risk. When a company holds Bitcoin on its balance sheet, it is referred to as a corporate Bitcoin treasury. Instead of only holding traditional financial assets and cash, organizations can also own Bitcoin as an alternative store of value or investment strategy. The approach of converting cash holdings into cryptocurrency is a new shift in corporate finance strategy. The concept has gained huge media coverage in recent years, with Strategy’s consistent Bitcoin treasury growth sparking debates. Read more
XRP price struggles due to declining open interest and weakening network activity, as a classic chart pattern points to a further downside for the altcoin. Key takeaways: Declining daily active and new addresses signal reduced network activity, less demand for XRP. XRP open interest is down 30% in a month. Read more
BlackRock’s ETF is nearing the $70 billion mark as Bitcoin transactions continue to be dominated by large investors. Update June 20, 1:49 pm UTC: This article has been updated to include quotes from Brickken analyst Enmanuel Cardozo. BlackRock’s spot Bitcoin exchange-traded fund (ETF) is nearing the $70 billion mark in assets under management, signaling growing interest from institutional investors even as retail inflows appear to be slowing. BlackRock, the world’s largest asset manager, has acquired over $69.7 billion worth of Bitcoin (BTC) through its iShares Bitcoin Trust (IBIT) ETF, representing over 3.25% of the total BTC supply. Read more
Health tech firm Semler Scientific wants to boost its Bitcoin holdings from 3,800 BTC to 105,000 BTC by 2027 and has appointed a new director to lead the plan. Healthcare tech firm Semler Scientific Inc. says it plans to boost its Bitcoin stack by nearly 28 times in the next two-and-a-half years, growing its holdings from 3,808 Bitcoin to 105,000 Bitcoin. Semler is aiming to hold a total of 10,000 Bitcoin (BTC) by the end of this year, then 42,000 BTC by the end of 2026, before going for its final target of 105,000 BTC by 2027, the company said on Thursday. It plans to use equity, debt financing and operational cash flow to reach its target, and has appointed a new director to lead the plan. Read more