Bitcoin Treasuries Under Pressure: Global Companies Sell $15.92 Million Worth of BTC
The global crypto market is experiencing a correction, with major capital markets in a phase of aggressive deleveraging and bubble purging. In this environment, public companies holding Bitcoin treasuries are reassessing their strategies.
According to data from SoSoValue, the total net selling of Bitcoin by global public companies (excluding mining companies) for the week was $15.92 million, a decrease of 1,296.99% compared to the previous week.
KULR Technology Group sold approximately 333 Bitcoins at a price of $64,538, reducing its total holdings to approximately 760 BTC. Strive spent $5.19 million to purchase 79 Bitcoins at a price of $65,723, bringing its total holdings to approximately 20,000 BTC.
Metaplanet's subsidiary, Bitcoin Japan, announced a convertible bond financing agreement with EVO Fund, aiming to raise 9.66 billion Japanese Yen (approximately $59.5 million) to establish a crypto asset treasury.