Corporate treasuries continue to quietly scoop up Bitcoin even as the market retraces recent gains. Institutions bagged more than 7,700 BTC last week, hinting that they still have an appetite while retailers back off. A bullish rally triggered after the US Fed chair Jerome Powell’s Jackson Hole address witnessed a major correction. Bitcoin, which went on to hit $117k last mid-week, dropped back to the $112K zone on Monday. BTC dominance hovers around 57.6%. The cumulative crypto market cap fell by 2.4% over the last 24 hours to stand at $3.89 trillion. Its 24-hour trading volume spiked by 81% to hit $243 billion. Corporates load up on Bitcoin From August 18–24, at least 48 treasury announcements were made globally, as shown by data compiled from company disclosures. It highlighted that four new treasuries were launched, collectively holding more than 41 BTC. However, 16 more firms signaled plans to build reserves, and 5 planned to buy more of Bitcoin. August 22 saw a Japanese fashion brand, ANAP Holdings, increasing its Bitcoin holdings by 6.26 BTC. Another Japanese company scooped 200 BTC, pushing its holding to 364.93 BTC on the same day. However, Rep. Migz Villafuerte filed HB 421 for a Philippine Strategic Bitcoin Reserve . It intends to buy 2,000 BTC/year for 5 years (10,000 BTC total). Source: Data compiled by NLNico US-listed bitcoin treasury company, DDC Enterprise, bought 100 Bitcoin on August 21. Japan’s Japanese apparel retailer Mac House made its first acquisition of 17.5 BTC. They called this a “proof of concept” and will see if they will continue buying. Earlier, it announced that its Treasury Strategy target is 1,000 BTC. On August 20, US homebuilder BOXABL disclosed a treasury of 10 BTC at an average price of $107.8k in its Q2 filing. Sweden’s Goobit Group (BTCX) revealed its first 10.6 BTC buy, with a target of 210 BTC. H100 Group picked up 102 BTC and now holds a total of 911.29 Bitcoin. Strategy scoops more Amid the fresh market drop, Metaplanet acquired another 103 Bitcoin, taking its total holdings to 18,991 BTC. Remixpoint added 41.5 BTC, ANAP 11.7 BTC, and Agile Media Network 0.6 BTC. Def Consulting also announced it will begin building a treasury. Smaller corporates also stepped in as DDC enterprise bagged another 200 BTC on August 25, bringing its stash to 888 BTC. Empery Digital added 13 BTC, taking its holdings past 4,000 BTC. Florida-based LM Funding America bought 164 BTC, lifting its total to 311 BTC. Vanadi Coffee added 5 BTC to reach an even 100 BTC. MicroStrategy continued to lead the charge. It reveals the purchase of 3,081 Bitcoin for $356.9 million at an average price of $115,829. The firm now holds 632,457 BTC and is by far the largest corporate treasury. Bitcoin is dealing with heavy selling pressure, and balance sheet buyers are speeding up their “Buy The Dip” strategies. BTC price dropped by more than 3% over the last 7 days, opening a window to add more. The biggest crypto is trading at an average price of $112,472 at the press time. Its 24-hour trading volume jumped by 70% to stand at $87.8 billion. Join Bybit now and claim a $50 bonus in minutes
