Listed Companies' BTC Purchases Collapse, Strategy Stays Idle
According to SoSoValue data, as of June 29, 2026 (Eastern time), global listed companies (excluding miners) bought a net of only $14.65 million worth of Bitcoin last week, an 83% drop from the previous week. Strategy (formerly MicroStrategy) did not purchase any Bitcoin for the second consecutive week. Instead, the company announced two $1 billion security repurchase plans, targeting Class A common stock and digital credit preferred shares (STRC, with annual dividends of 8%-10%). To fund these repurchases and support ongoing capital expenditures, the board approved a Bitcoin monetization plan allowing the sale of up to $1.25 billion in BTC to bolster USD reserves. The proceeds will be used to pay preferred stock dividends, support buybacks, or cover related expenses. However, the plan is currently a 'reserve shield' and no actual sales have occurred. This marks Strategy's transition from aggressive balance sheet expansion to refined capital structure management.
Japan's Metaplanet has not bought BTC for 10 consecutive weeks. Two other firms took action: Hong Kong-based CIMG completed a stock and warrant issuance, receiving 207.7 BTC (average price $65,000, value $13.5 million), bringing its total to 937.7 BTC; Brazil's OrangeBTC purchased 74 BTC for $4.9 million (average $66,233), reaching a total of 3,896 BTC. As of press time, global listed companies collectively hold 1,142,484 BTC, valued at approximately $68.52 billion, representing 5.7% of the circulating supply.
Fidelity Report: Number of Firms Holding ≥1,000 BTC Doubles
Fidelity Digital Assets reported that as of end-2025, the number of publicly traded companies holding at least 1,000 BTC increased from 22 at end-2024 to 49, controlling nearly 5% of the Bitcoin supply. Among them, Strategy holds ~847,000 BTC, Twenty One Capital ~43,500, Metaplanet ~40,000, and MARA Holdings ~36,000. As of early June 2026, between 170 and 199 listed companies held approximately 1.265 million BTC (6% of total supply), worth about $76 billion. In May 2026, listed firms added a net 43,557 BTC, with SpaceX also appearing on the holder list.
Strategy's New Framework: Selling BTC to Fund Buybacks
Strategy launched the 'Digital Credit Capital Framework' on Monday, detailing conditions for future Bitcoin sales. The board approved a plan to sell up to $1.25 billion in BTC to replenish cash reserves, pay for Stretch (STRC) products, or repurchase securities. Co-founder Michael Saylor stated that Bitcoin remains the primary treasury reserve asset, but Digital Credit requires liquidity, discipline, and active capital management. The framework aims to strengthen credit quality and reduce expected preferred stock dividend payments. Strategy did not announce new BTC purchases, and its USD Reserve has recovered to $2.25 billion, covering approximately one and a half years of dividend payments.
Ethereum Camp: Bitmine and Sharplink Keep Accumulating
Bitmine Immersion Technologies purchased 27,084 ETH for ~$43 million last week, raising its holdings to 5.7 million ETH, or 4.7% of Ethereum's circulating supply. The company's crypto assets, cash, and investments total ~$9.8 billion, nearing its 5% target, though purchasing pace has slowed. Chairman Tom Lee attributed recent crypto price weakness to quarter-end 'window dressing.' Sharplink Gaming bought 39,196 ETH (~$62.43 million), bringing its total to over 202,000 ETH. In contrast, ETH treasury firm FG Nexus sold another 3,375 ETH ($5.34 million), with cumulative losses exceeding $86.8 million—it originally bought 50,770 ETH for $196 million and has now sold 41,675 ETH, recovering only $94.51 million.
Other Developments: Solana Treasury Disputes and Miner Merger
Listed Solana treasury firm Upexi signed a securities purchase agreement, issuing ~12.24 million common shares and prefunded warrants at ~$1.60 per share, raising $19.5 million. Proceeds will repay debt and continue accumulating SOL as a strategic reserve. Another Solana treasury firm, Solmate Infrastructure, faces a lawsuit from its largest external shareholder, RBCH (affiliated with RockawayX founder Viktor Fischer, holding ~22.74% of Brera Holdings). Filed in New York State Supreme Court, the suit alleges breach of fiduciary duty, misleading statements, and self-dealing. Specific claims include selling stock while other investors were locked up, signing advisory agreements with related parties, and directors purchasing 2.298 million Class B shares at $4.97 per share, diluting shareholders by ~20%. Solmate currently holds ~2 million SOL on its books, and its stock has fallen ~78% year-to-date. Separately, DCG's Zcash miner Fortitude Mining announced a merger with Nasdaq-listed medtech firm HeartSciences; the latter's stock surged 55%. SUI Group Holdings expanded its loan partnership with Bluefin, adding 4 million SUI (total 6 million SUI) and increasing the revenue-sharing ratio from 5% to 11%.
