Table of Contents
- Bitcoin Treasuries: July Bitcoin Adoption Report
- Strategy Maintains Lead, Monthly Increase of 31,466 BTC
- Government Buying Remains Low, Bhutan as the Only Net Seller
- Bitcoin Financial Indicators
- ETH and SOL Reserves Expand Simultaneously
- Market Expects Public Companies to Make Significant Moves
Bitcoin Treasuries: July Bitcoin Adoption Report
According to the latest “July Bitcoin Adoption Report” released by Bitcoin Treasuries, July has become one of the fastest months for the expansion of Bitcoin corporate treasuries amid a continuous rise in corporate financial strategies and institutional demand. In that month, listed companies, private enterprises, ETFs, and other entities included in the tracking increased their holdings by a net total of 166,000 BTC, bringing the total holdings to 3.64 million BTC, with a market value exceeding $42.8 billion.
The report indicates that approximately two-thirds of the increase came from the companies themselves, around 107,000 BTC, while the remainder came from ETFs and other financial products. This wave of corporate buying not only reinforces Bitcoin’s narrative as “digital gold” but also further solidifies its strategic positioning within the global financial structure.
Strategy Maintains Lead, Monthly Increase of 31,466 BTC
Among all entities that increased their holdings, Strategy remains the market leader, purchasing a total of 31,466 BTC through three transactions in July, and by the end of the month, it solidified its position as the leader in corporate reserves with total holdings of 628,791 BTC. Part of this increase was funded by its $2.5 billion preferred stock fundraising, demonstrating ongoing support from the institutional capital market for its Bitcoin strategy.
In addition to Strategy, the Bitcoin Standard Treasury Company, which made its debut on the list, revealed that it holds 30,021 BTC, of which 25,000 BTC came from founding shareholder Adam Back, with the remaining 5,000 BTC from early investors.
Moreover, Trump Media & Technology Group, after completing fundraising in May, announced it has incorporated 18,430 BTC into its treasury.
Additionally, Coinbase’s Q2 financial report disclosed that it has newly acquired 2,509 BTC, bringing its total holdings back up to 11,776 BTC, re-entering the top ten public market companies. Other companies such as XXI, Metaplanet, Sequans Communications, and Empery Digital also made varying degrees of increases in their holdings.
Government Buying Remains Low, Bhutan as the Only Net Seller
In contrast to the corporate momentum, the cryptocurrency buying actions of various governments have generally been weak. In July, the U.S. government only added 10 BTC, and El Salvador increased its holdings by 33 BTC, while Bhutan ended up as a net seller of 776 BTC due to some profit-taking and rebalancing actions.
Bitcoin Financial Indicators
The report further points out that while companies are choosing to hold BTC as an asset reserve, they are also beginning to pay attention to various financial efficiency indicators, including mNAV (market value to net asset value ratio), expected return rates, and Bitcoin holdings per share.
Among many companies, Strategy’s performance has once again stood out. The company significantly increased its Bitcoin holdings, leading to a notable rise in the “number of Bitcoins represented per share,” making it the company with the most significant monthly growth in holdings within the sample of the report.
ETH and SOL Reserves Expand Simultaneously
It is worth noting that although Bitcoin remains the mainstream option, the report also indicates that ETH and SOL reserve allocations are gradually rising. According to statistics, the total value of ETH reserve assets has surpassed $10 billion, while the total market value of Solana reserves has reached $554 million, indicating that corporate asset allocation is evolving toward multi-chain diversification and risk dispersion.
Market Expects Public Companies to Make Significant Moves
The report concludes with a prediction that as the policy environment gradually clarifies, particularly in the United States, the trend of corporate Bitcoin holdings will continue to heat up. According to a survey conducted by asset management company Nickel Digital, nearly half of the respondents expect that more than 10% of S&P 500 companies will hold BTC in the future; while as many as 86% of wealth managers support public companies incorporating BTC into their balance sheets.
