news 
Corporate treasuries have doubled their purchases of Bitcoin through exchange-traded funds (ETFs) in the first half of the year, indicating a substantial increase in boardroom support for the digital asset. This significant surge in demand from corporate treasuries has led to an overwhelming 245,510 Bitcoin (BTC) being acquired by public companies during this period.
Comparing the data to previous years, it is evident that corporate activity has grown exponentially, with purchases increasing two-fold compared to the 118,424 BTC absorbed by ETFs in H1 of the preceding year. The stark contrast between the figures highlights a structural shift towards Bitcoin’s adoption within the boardrooms, surpassing retail and institutional investors.
The significant rise in purchases is not limited to Strategy, as Strategy alone accounted for 55% of total corporate acquisitions during this period. While Strategy was previously responsible for 72% of all corporate treasuries’ purchases last year, its reduced share highlights an increase in demand from various other companies that have also adopted Bitcoin.
The growing consensus among corporate management teams regarding the value of Bitcoin has been fueled by inflation hedging and cross-border liquidity, with some highlighting accounting advantages as justification. However, this increased adoption is not without concerns, with some experts warning about leveraged purchases made by corporations using convertible notes or other leverage.
Despite these warnings, the surge in demand demonstrates a newfound conviction among corporate treasuries regarding Bitcoin’s role as a long-term treasury asset and potentially, a store of value.
Source: cryptoslate.com
