Bitcoin has surged back to $110,305, approaching its recent May 22 peak of $112K, as major corporations accelerate their Bitcoin treasury purchases. This latest price movement comes amid a growing wave of institutional Bitcoin adoption, with several major players announcing significant BTC acquisitions.
Corporate Bitcoin Treasury Race Heats Up
BitMine has joined the Bitcoin treasury race with an initial purchase of 100 BTC, while Strategy continues to lead with its massive 582,000 BTC holdings valued at approximately $41 billion. MARA Holdings maintains its position as the second-largest holder with 46,374 BTC, though Metaplanet’s ambitious plans to acquire 210,000 BTC by 2027 could reshape the landscape.
Market Impact and Stock Performance
The institutional buying spree has triggered positive movement in crypto-related stocks:
- Circle Internet Group (CRCL): +7.5%
- Core Scientific Inc. (CORZ): +4.2%
- MARA Holdings (MARA): +3.1%
Top Cryptocurrencies to Watch
As Bitcoin maintains its upward trajectory, several promising projects have caught investors’ attention:
1. Solaxy ($SOLX)
Solana’s Layer 2 solution has raised $46M in its presale, offering improved scalability and lower fees. The recent Solana ETF listing has further boosted interest in Solana ecosystem projects.
2. Ethereum ($ETH)
Ethereum has shown strong momentum, up 7.63% in 24 hours. Analysts are predicting a potential breakout rally targeting $3,000.
FAQ Section
Will Bitcoin continue its upward trend?
Given the increasing institutional adoption and corporate treasury purchases, analysts expect continued upward pressure on Bitcoin’s price.
What’s driving the corporate Bitcoin buying wave?
Companies are viewing Bitcoin not just as a portfolio diversification tool but as a strategic financial asset in response to market conditions and inflation concerns.
Disclaimer: This article is for informational purposes only. Always conduct your own research (DYOR) before making any investment decisions.
