Public companies kept stacking Bitcoin in June, but the month’s real story played out in a corner of the market that did not exist a couple of years ago: the preferred shares that treasury firms now use to fund their coin purchases.
A new report from BitcoinTreasuries.net calls June the first true stress test for this “digital credit” market, and the results offer a mixed but telling verdict on where corporate Bitcoin adoption goes next.
First, the buying. Public treasuries added close to 9,000 BTC before sales in June, or about 7,300 BTC on a net basis, worth some $427 million at the month-end price of $58,398. That counts as moderate growth, and two names did most of the work.
Michael Saylor’s Strategy added 3,625 BTC net, and Strive added 3,364, with each company spending in the neighborhood of $200 million.
Strip out those two and the rest of the field bought about 2,000 BTC. For the full second quarter, the report estimates 110,000 BTC in net additions, a pace that beat the two quarters before it.
