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  • Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

    Texas buys $5mn BTC ETF, pushes for Bitcoin reserve plan

    Texas pushes crypto strategy with new Bitcoin reserve plan

    • The state legislation sets aside $10 million for Bitcoin accumulation.
    • Texas is preparing a formal tender to choose a custodian for the reserve.
    • New Hampshire authorised a Bitcoin reserve and approved a $100 million Bitcoin bond.

    Texas is moving ahead with one of the most ambitious state-level crypto strategies in the country as it begins shaping the framework for a government Bitcoin reserve.

    The state has now taken its first formal step by acquiring $5 million in shares of BlackRock’s iShares Bitcoin Trust.

    The purchase is part of a wider plan triggered by legislation passed earlier this year, which allocated $10 million for future Bitcoin accumulation.

    The early activity positions Texas to become the first US state to hold a dedicated cryptocurrency reserve, giving it a lead in a growing competition among states exploring digital asset policies.

    Texas builds foundation for Bitcoin reserve

    The state has been gathering information from the cryptocurrency industry to help design how its reserve will operate.

    The review began after Texas issued a request for information in September seeking guidance on best practices for storage, security, and management.

    Industry groups sent detailed submissions covering custody models, investment structures, governance frameworks, and security systems.

    The process is part of a wider effort to ensure the reserve can be managed with clear procedures once it transitions from planning to execution.

    Texas officials are expected to follow this phase with a formal request for proposal.

    The tender will be used to select a custodian and determine the final operational rules for the programme.

    The recent $5 million allocation acts as a temporary measure rather than direct Bitcoin ownership while the state completes its selection process, according to a CoinDesk report.

    States explore government crypto strategies

    Other states have also gained exposure to Bitcoin, though through different channels.

    Michigan and Wisconsin accessed cryptocurrency markets through public-employee retirement funds.

    Wisconsin sold a $350 million allocation in May, according to public records.

    These moves reflect growing institutional interest at the state level, even in cases where governments have not yet adopted dedicated reserves.

    Several states are actively studying the idea of holding Bitcoin for strategic purposes.

    New Hampshire has authorised the creation of a government Bitcoin reserve, although it has not yet made any purchases.

    Last week, the New Hampshire Business Finance Authority approved a $100 million Bitcoin bond designed to support an economic development fund backed by cryptocurrency.

    The structure relies on private sector activity rather than direct state accumulation.

    Early development continues nationwide

    Arizona is also taking steps toward a government-level reserve.

    Its legislation directs unclaimed cryptocurrency assets held by the state into a dedicated reserve.

    The plan creates an initial legal foundation that could support future accumulation, although the full reserve framework is still in development.

    These early efforts reflect a rising interest among states in integrating digital assets into long-term financial planning.

    The state-level activity is unfolding alongside federal discussions.

    President Donald Trump has publicly supported the idea of a national Bitcoin investment strategy.

    The administration has issued an executive order directing officials to begin planning for a federal reserve structure.

    Government teams working on the project are now waiting for congressional approval before advancing to the next stage.

    Texas sets the pace in state crypto adoption

    Texas remains the most advanced of the state-level initiatives due to its legislative backing and its first confirmed investment.

    The move signals a shift from exploratory interest to practical implementation, with a structured plan for selecting custodians and defining reserve operations.

    The next steps will determine how the state transitions from temporary allocations to direct Bitcoin ownership once contracts and governance systems are finalised.

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  • Michael Saylor’s Strategy buys the Bitcoin dip, adds 4,048 BTC

    Michael Saylor’s Strategy buys the Bitcoin dip, adds 4,048 BTC

    AI generated image for Bitcoin in a vault

    • The acquisition cost $449.3 million, with the company paying an average of $110,981 per coin.

    • Following the latest acquisition, Strategy’s total Bitcoin holdings rose to 636,505 BTC.

    • The company’s latest purchase follows a series of smaller acquisitions in August.

    Strategy, the world’s largest public company holding Bitcoin, led by Michael Saylor, disclosed in a US Securities and Exchange Commission filing on Tuesday that it purchased 4,048 Bitcoin between August 25 and September 1.

    The acquisition cost $449.3 million, with the company paying an average of $110,981 per coin.

    According to CoinGecko data cited in the filing, the purchases were made as Bitcoin prices briefly climbed above $113,000 before dropping below $108,000 last Friday.

    Strategy’s BTC bet

    Following the latest acquisition, Strategy’s total Bitcoin holdings rose to 636,505 BTC.

    The company has acquired its reserves for approximately $46.95 billion, at an average purchase price of $73,765 per coin.

    The company said the latest acquisitions were financed through proceeds from at-the-market sales of its Class A common stock (MSTR) as well as its perpetual preferred stock programs, including Strike (STRK), Strife (STRF), and Stride (STRD).

    Strategy reported that it sold 1,237,000 MSTR shares for $425.3 million, with $16.31 billion still available for issue under its at-the-market program.

    In addition, the company sold 199,509 STRK shares for about $19 million, with $20.39 billion remaining, 237,931 STRF shares for $26.5 million, with $1.8 billion remaining, and 12,973 STRD shares for $1 million, leaving $4.17 billion available.

    August buying activity slows

    The company’s latest purchase follows a series of smaller acquisitions in August.

    Strategy had announced the purchase of 3,081 BTC last week, along with earlier acquisitions of 430 BTC and 155 BTC in the same month.

    Combined with the most recent purchase, the company acquired 7,714 BTC in August, significantly lower than the 31,466 BTC bought in July.

    Saylor had signalled the likelihood of additional acquisitions ahead of the filing, posting an update to Strategy’s Bitcoin tracker over the weekend, saying Bitcoin was “still on sale.”

    The company also confirmed that a group of investors dropped a class action lawsuit on Thursday.

    The lawsuit, filed in May, alleged that Strategy had made false and misleading statements about its investment strategy.

    The BTC treasury race

    According to data from Bitcoin Treasuries, 163 public companies have adopted some form of Bitcoin acquisition model.

    Other large holders include MARA with 50,639 BTC, Tether-backed Twenty One with 43,514 BTC, Adam Back and Cantor Fitzgerald-backed Bitcoin Standard Treasury Company with 30,021 BTC, Bullish with 24,000 BTC, Metaplanet with 20,000 BTC, Riot Platforms with 19,239 BTC, Trump Media & Technology Group with 15,000 BTC, CleanSpark with 12,703 BTC, and Coinbase with 11,776 BTC.

     

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  • Strategy buys 6,220 Bitcoin for $739.8M, takes total holdings past $43B

    Strategy buys 6,220 Bitcoin for $739.8M, takes total holdings past $43B

    Strategy buys 6,220 Bitcoin for $739.8M, takes total holdings past $43B

    • $740.3M raised via equity sales across four security classes.
    • 1.6M MSTR shares sold under $21B ATM authorisation.
    • Strategy’s BTC yield for 2025 stands at 20.8% year-to-date.

    Strategy has added another 6,220 Bitcoin to its corporate balance sheet, spending $739.8 million during the week ending July 20, 2025.

    The purchase was funded through the company’s ongoing at-the-market (ATM) equity offerings.

    With this latest acquisition, the firm now owns 607,770 BTC—worth over $43 billion at current prices—making it the largest institutional holder of Bitcoin worldwide.

    The firm, chaired by billionaire Michael Saylor, paid an average of $118,940 per Bitcoin in its latest purchase, as disclosed in a filing published on Monday.

    This represents a significant premium over its historical average acquisition cost of $71,756 per BTC.

    Strategy issues 1.6M MSTR shares in latest equity round

    Between July 14 and July 20, Strategy raised approximately $740.3 million across four different security classes.

    The majority of funds—$736.4 million—were generated from the sale of 1,636,373 MSTR common shares.

    The company also issued 5,441 STRK preferred shares with an 8.00% strike, raising $700,000. Another 2,000 STRF shares were sold at a 10.00% strike, bringing in $200,000. Additionally, 31,282 STRD preferred shares, also with a 10.00% stride, were issued for $3.0 million in proceeds.

    All four instruments fall under large multi-billion-dollar issuance programmes. Both the MSTR and STRK share classes are authorised for up to $21 billion each.

    These programmes demonstrate Strategy’s continued ability to convert equity into Bitcoin reserves at scale without relying on traditional financing channels.

    BTC acquisition cost shows 20.8% YTD return for Strategy

    Bitcoin prices remain significantly higher than Strategy’s average cost basis of $71,756, giving the firm a year-to-date return of 20.8% on its BTC holdings.

    At current market prices—just above $118,000—Strategy’s crypto treasury continues to outperform many traditional corporate investments.

    This yield figure is particularly notable as Bitcoin has consolidated after hitting an all-time high of $123,000 last week.

    Although prices have since pulled back slightly, the bullish market structure remains intact.

    Analysts have observed a pennant formation following BTC’s strong rally in July, typically a continuation pattern that suggests potential for further upside.

    Despite short-term market volatility, Strategy’s long-term accumulation approach has proven resilient.

    The latest purchase reinforces its strategy of treating Bitcoin as a primary treasury asset and a long-term store of value.

    Market reacts as Saylor signals continued BTC accumulation

    Michael Saylor has maintained a consistent narrative around Bitcoin being a superior store of value.

    On Saturday, just days after the most recent BTC buy, he posted on X (formerly Twitter): “Stay humble, stack sats.” The phrase has been interpreted as a signal that Strategy’s accumulation is far from over.

    The company’s approach, combining equity capital markets with ongoing BTC purchases, serves as a blueprint for institutional crypto exposure.

    As regulatory clarity and institutional infrastructure improve, Strategy’s model could influence how other publicly listed firms handle treasury allocation.

    Bitcoin’s latest rally, paired with corporate participation at this scale, continues to shift market sentiment toward long-term adoption.

    While the token’s price has slipped slightly from its recent peak, its resilience above the $115,000 level is being closely watched by traders and institutional investors alike.
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  • Neptune adds 20 BTC to Bitcoin strategy, also buys 1m DOGE

    Neptune adds 20 BTC to Bitcoin strategy, also buys 1m DOGE

    • Canadian blockchain firm Neptune Digital Assets announced it purchased 20 BTC worth almost $2 million.
    • The company also bought Dogecoin, scooping the meme coin on December 27, 2024 at the average price of $0.37 per DOGE.

    Neptune Digital Assets, a Canada-based blockchain firm, has announced it added 20 Bitcoin (BTC) to its holdings.

    The publicly-traded company, whose operations include Bitcoin mining, staking and blockchain nodes, revealed it acquired the 20 BTC as it expanded its Bitcoin strategy between January 26 and Feb. 3, 2025.

    Neptune also buys Dogecoin

    According to a press release, Neptune scooped the BTC at the average price of $99,833 per coin. This means the company spent nearly $2 million to buy more of the flagship digital asset. Neptune’s total BTC holdings rose to 376 BTC with this purchase.

    Neptune is one of over 60 public companies that can issue debt and use the proceeds to buy BTC. The biggest hodler among these is US-listed MicroStrategy.

    Dogecoin is the other cryptocurrency to attract the blockchain firm. Per the announcement on Feb 4, the company acquired 1 million DOGE on December 27, 2024 at the average price of $0.37 per token. Neptune said it bought the meme coin via a “strategic derivative purchase.”

    “As stated in previous news releases, Neptune will be acquiring additional assets, leveraging our enhanced purchasing power through the Sygnum credit line. With a strong focus on BTC, these initial acquisitions show Neptune’s commitment to its growth strategy while meticulously managing leverage risk and debt levels,” Cale Moodie, Neptune’s chief executive officer, said in a statement.

    Both Bitcoin and Dogecoin have experienced sharp volatility in the past few days, with BTC and DOGE plummeting on Monday amid tariffs-driven sell-off across risk assets.

    BTC fell to lows of $92k before bouncing to retest resistance above the psychological $100k level. Currently, the benchmark asset trades just above $99,400.

    Meanwhile, DOGE slumped to below $0.22 and currently hovers near $0.27.

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  • Italy’s largest bank, Intesa Sanpaolo, buys $1M Bitcoin

    Italy’s largest bank, Intesa Sanpaolo, buys $1M Bitcoin

    Italy's largest bank, Intesa Sanpaolo, buys $1M Bitcoin
    • Intesa Sanpaolo Bank buys $1 million in Bitcoin
    • The bank is the first Italian bank to invest in crypto
    • The move is a low-risk experiment with digital assets in preparation for potential client demand

    In a pioneering move for Italy’s financial sector, Intesa Sanpaolo, the country’s largest bank, has ventured into the cryptocurrency market by purchasing $1 million worth of Bitcoin (BTC).

    This acquisition marks a significant milestone as the first direct cryptocurrency purchase by a major Italian bank, reflecting the growing acceptance of digital assets in traditional finance.

    A test in preparation for potential client demands

    The transaction, which netted Intesa Sanpaolo 11 Bitcoin, underscores a cautious yet optimistic approach towards cryptocurrencies.

    According to an internal memo and subsequent reports by Reuters, this investment is seen as an experiment within the bank’s vast portfolio, which includes over $100 billion in securities.

    The bank’s CEO Carlo Messina described the purchase as a test, emphasizing the minimal risk involved due to the relatively small amount compared to the bank’s total assets.

    Messina further elaborated that this move is not just about dipping toes into the digital asset pool, but also about preparing for potential client demands. “This shows there can be some attention to digital channels, but with very limited investment amounts,” he commented.

    Such a strategy could signal to other financial institutions that there’s room for cryptocurrencies in traditional banking, especially if sophisticated clients show interest in these novel investment options.

    Intesa betting on a favorable crypto environment in 2025

    The timing of this investment is noteworthy. Following the US approval of its first crypto-based ETF at the start of 2024 and the election of a pro-crypto US government-in-waiting at the end of the year, Bitcoin’s price soared to unprecedented heights, reaching six figures by late 2024.

    With expectations of favorable regulatory changes under the new US administration led by President-elect Donald Trump, the market anticipates further growth in 2025. Intesa Sanpaolo’s move could be seen as strategic, capitalizing on what many consider an opportune entry point into the cryptocurrency market.

    This groundbreaking step by Italy’s leading bank not only highlights a shift towards embracing digital assets, but also sets a precedent for other banks in Italy and potentially across Europe to consider cryptocurrencies as part of their investment strategies.

    As the financial world watches, this could lead to more integrated and innovative services blending traditional banking with the burgeoning world of digital currencies.

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  • MicroStrategy buys 2,138 BTC to bring stash to 446,400

    MicroStrategy buys 2,138 BTC to bring stash to 446,400

    • MicroStrategy has added to its Bitcoin holdings with another 2,138 BTC purchase
    • This is the eighth consecutive week that the US-listed company has purchased Bitcoin
    • MicroStrategy’s announcement comes a day after Michael Saylor posted the company’s BTC tracker.

    MicroStrategy, the world’s largest publicly-traded holder of Bitcoin (BTC), has announced purchase of the flagship digital asset.

    The company, whose BTC buying spree has seen it become known as a Bitcoin development company, revealed the latest purchase on Dec. 30.

    MicroStrategy buys BTC again

    In the announcement, the company disclosed its eighth consecutive week of BTC acquisition involved the scooping of 2,138 bitcoins for $209 million. The company used funds from its at-the-market share sales, which currently stands at over $6.88 billion.

    Michael Saylor, the founder and executive chairman of MicroStrategy, had posted the company’s BTC tracker on Dec. 29, leading to speculation about today’s announcement.

    For its most recent BTC acquisition, MicroStrategy spent approximately $97,837 per BTC. With this purchase, MicroStrategy has extended its lead as the world’s largest holder of Bitcoin among publicly traded companies. It now hodls 446,400 BTC, acquired for a total of $27.9 billion and at the average purchase price of $62,428 per bitcoin.

    In total, the company has seen a BTC Yield of 47.8% quarter-to-date and 74.1% year-to-date.

    Despite the buying, Bitcoin price remained negative on the daily and weekly time frames, trading around $93,114 at the time of writing. Per CoinMarketCap, BTC was down 1.8% in the past 24 hours and 2.6% in the past week.

    Meanwhile, the MicroStrategy stock, which rose sharply amid the company’s joining of the Nasdaq 100, was down 13.3% in pre-market trading. MSTR closed at $330 on Dec. 27 but hovered around $319 at 8:30 ET on Dec. 30.

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  • MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy buys 27,200 BTC worth over $2 billion; Bitcoin spikes above $84k

    MicroStrategy, the business intelligence company founded by Michael Saylor that;s now the biggest corporate holder of Bitcoin (BTC), has added to its haul of the digital asset.

    On Monday, Saylor announced that the publicly-traded company had acquired another 27,200 BTC for over $2 billion. The news coincided with the surge in Bitcoin price – which reached a new all-time high above $84k.

    Earlier, the world’s largest and most popular cryptocurrency had traded to above $82k. This follows sentiment from the Donald Trump election victory, which continues to create a bullish buzz.

    MicroStrategy its $22 billion in BTC purchases

    The latest Bitcoin purchase for MicroStrategy comes after the company raised $2.03 billion. Earlier, MicroStrategy had revealed plans to raise $42 billion to buy more bitcoins – a scenario that has added to the overall bullish sentiment around the benchmark cryptocurrency.

    Saylor said his company spent these proceeds on buying an additional 27,200 BTC. With this acquisition, which was finalized at the average price of $74,463, MicroStrategy now has a total of 279,420 bitcoins.

    In total, the company has spent $11.9 billion to buy BTC at the average price of $42,692 per coin. At current price of $84,153, MicroStrategy’s Bitcoin holdings amount to over $23.5 billion.

    The BTC has achieved a yield of 7.3% quarter to date and 26.4% year-to-date.

    “Our MSTR treasury operations in the first 10 days of November resulted in a BTC Yield of 7.3%, a net benefit to our shareholders of ~18,410 BTC,” Saylor posted on X.

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  • Japan’s Metaplanet buys $7M Bitcoin, now holds to $40.5M BTC

    Japan’s Metaplanet buys $7M Bitcoin, now holds to $40.5M BTC

    Japan’s Metaplanet buys $7M Bitcoin
    • Metaplanet boosts Bitcoin holdings to 639.5 BTC as of Oct. 7.
    • The company’s stock price has surged 11%, with a 544% year-to-date gain since May 2024.
    • It has so far acquired an additional $1.4M in BTC via options trading, recognizing 23.97 BTC as revenue.

    Japan-based investment firm Metaplanet on October 7 announced that it has made yet another significant acquisition of Bitcoin, boosting its holdings to a total of 639.5 BTC, valued at approximately $40.5 million.

    The company, which has garnered the nickname “Asia’s MicroStrategy” for its aggressive Bitcoin purchasing strategy, acquisition of an additional 108.78 BTC, worth roughly $7 million at the current Bitcoin price of $63,600.

    Metaplanet’s Bitcoin strategy has been nothing short of bold. Since May 2024, when it first adopted Bitcoin as its strategic treasury reserve asset, the firm has made regular purchases to strengthen its cryptocurrency portfolio.

    In total, Metaplanet has invested 6 billion Japanese yen into Bitcoin over the past few months. Its consistent buying behaviour has drawn comparisons to MicroStrategy, the American company known for its own large-scale Bitcoin acquisitions.

    This most recent purchase has led to a surge in Metaplanet’s stock price, which climbed more than 11% on October 7, reaching an intraday high of 1,047 Japanese yen (approximately $7). The company’s stock has more than tripled in value since the start of the year, with a 544% year-to-date gain, although it is still trading at a 66% discount from its all-time high in May 2024.

    In addition to direct Bitcoin purchases, Metaplanet has employed options strategies to increase its reserves. Last week, the company acquired Bitcoin worth $1.4 million through options trading, selling put options with a strike price of $62,000. These options, set to expire on December 27, 2024, generated a premium of 23.97 BTC, which the company recognized as revenue.

    Market analysts remain optimistic about Bitcoin’s trajectory, with predictions suggesting it could rise to $77,700 by the end of October. As Bitcoin continues its upward momentum, Metaplanet’s ongoing acquisition strategy could further solidify its position as a leading player in the cryptocurrency space.

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  • Whale dumps $3 million worth of INJ and buys LDO

    Whale dumps $3 million worth of INJ and buys LDO

    An image of a whale’s tail in the ocean
    • The whale sold over 150k Injective (INJ) tokens worth over $3.29 million.
    • According to Lookonchain, the whale acquired 2.44 million Lido DAO (LDO) worth over $3.05 million.
    • INJ price dipped slightly while LDO rose

    A whale has sold a significant amount of Injective (INJ) and bought more Lido DAO (LDO) tokens.

    On Wednesday, Sept. 25, Lookonchain shared on-chain details that showed the whale dumped 150,428 INJ valued at $3.29 million. The whale swapped the INJ for 2.44 million LDO valued at more than $3.05 million.

    Per Lookonchain, the whale sold their INJ for LDO via crypto liquidity provider Cumberland.

    Injective price

    Injective (INJ) is layer 1 blockchain decentralized finance applications. The Binance and Mark Cuban-backed interoperable L1 blockchain currently ranks as the 49th largest cryptocurrency by market at $2.1 billion.

    The price of Injective’s native token fell 3% to trade near $21.24. INJ trading lower also saw weekly gains shrink to around 14%, while Injective is now down 1.4% in the past month. Notably, INJ reached highs of $22.70 on Tuesday, hitting the resistance level seen on August 24.

    INJ price however reached $52.62 on March 14, 2024 and its currently positioned nearly 59% off that level.

    Lido DAO price

    With the LDO purchase, the whale’s showing their bullish projection for Lido. Growth for the decentralized finance platform – a market leader in Ethereum staking – may be among catalyst.

    The Lido DAO price was up 2.6% in the past 24 hours to change hands at highs of $1.29 earlier in the day. LDO is among the top gaining tokens with +29.7%  this past week.

    LDO price was at $1.26 at the time of writing.

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  • South Korea’s national pension fund buys $34M of MicroStrategy shares

    South Korea’s national pension fund buys $34M of MicroStrategy shares

    The National Pension Service, South Korea’s national pension fund, has reported purchases of nearly $34 million in MicroStrategy shares.

    NPS is South Korea’s largest public pension fund and the third-largest in the world with over $729 billion worth of assets.

    Wu Blockchain shared the news via X:

    Details filed with the US Securities and Exchange Commission indicate the NPS acquired 245,500 of MicroStrategy shares at a total of $33.5 million. The filing relates to the fund’s investments in the quarter ending June 30, 2024.

    According to news outlet Infomax, the National Pension Service’s investment in shares of the US-based MicroStrategy accounts for 0.04% of the fund’s total investment in US stocks.

    Apart from MSTR, the fund also holds more than $51 million in Coinbase shares, $31.5 million in Roblox and over $61 million in shares of Block, Inc. The fund also holds shares of AI-chip powerhouse Nvidia, and tech giants Google and Microsoft.

    MicroStrategy shares up 92% YTD

    While the MicroStrategy stock has plummeted 20% as the crypto market struggles with choppy conditions. Despite falling from highs of $180 in mid-July to currently around $131, MSTR remains more than 92% up year-to-date.

    MicroStrategy, as well as top crypto related companies such as Coinbase, are largely bullish amid growth and projections for Bitcoin. For Michael Saylor-led MicroStrategy, part of the success has come after adopting the strategy of adding BTC to its balance sheet.

    MSTR has soared alongside Bitcoin since MicroStrategy first bought BTC in 2020, the latest surge coming amid Bitcoin’s push to reclaim $60k.

    Saylor said in a recent post on X that MSTR has outperformed 499 of the 500 stocks in the S&P 500.

    The company acquired an additional 12,222 BTC in Q2, 2024, adding more than $805 million in BTC to its haul. Currently, MicroStrategy holds 226,500 BTC worth over $13 billion.

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