Strategy Expands Bitcoin Holdings With Latest Multi-Million Dollar Purchase.
Strategy (MSTR) has purchased 7,390 BTC for approximately $764.9 million at an average price of $103,498 per bitcoin, right after a class action lawsuit was filed accusing the firm of breaching federal securities laws.
This latest acquisition increases the company’s total bitcoin holdings to 576,230 BTC, now valued at roughly $60 billion. The average purchase price of Strategy’s entire bitcoin position now stands at $69,726.
The purchase was financed through an at-the-market (ATM) offering of its Class A common stock, as well as the issuance of Series A STRK preferred stock. Between May 12 and May 18, Strategy raised $705.7 million from the sale of common stock and issued 621,555 shares of its STRK preferred stock.
Nasdaq-Listed DigiAsia Plans to Raise $100mn for Bitcoin Buys.
Nasdaq-listed DigiAsia Corp plans to raise up to $100 million to seed a bitcoin treasury reserve (BTC), joining a growing list of publicly traded companies looking to diversify their corporate balance sheets with bitcoin.
The announcement helped push DigiAsia’s shares up 91% during regular trading to 36 cents, before pulling back 22% after hours. The stock is still down more than 50% year-to-date.
The company said its board had approved a strategy to allocate up to 50% of future net profits toward BTC purchases and was “actively exploring” a capital raise of up to $100 million.
It also plans to pursue yield-generating strategies on its bitcoin holdings, including institutional lending and staking through regulated partners.
Quantum Biopharma Bolsters Bitcoin Treasury.
Quantum Biopharma has purchased an additional $1 million worth of Bitcoin and other cryptocurrencies, the Canadian biotechnology company said.
The buys take Quantum’s total cryptocurrency holdings to approximately $4.5 million, according to a press release. The biotech company plans to stake a portion of its crypto to generate revenue.
Shares of Quantum’s stock, QNTM, rose by approximately 25% following the announcement, according to data from Google Finance.
Collectively, corporate treasuries hold more than $83 billion in Bitcoin as of May 19, according to data from BitcoinTreasuries.NET.
Crypto.com And Canary Capital To Launch US CRO Fund.
Crypto.com and asset manager Canary Capital are launching a US investment fund designed to provide exposure to the Cronos blockchain’s native token, CRO, the cryptocurrency exchange said in a statement.
The Canary CRO Trust will hold the Cronos token in a regulated fund wrapper, Crypto.com said, adding that the trust is not an exchange-traded fund (ETF) and is only available to accredited investors.
In March, the crypto exchange partnered with Trump Media & Technology Group, a company affiliated with US President Donald Trump, to launch a series of Trump-branded ETFs, including one holding CRO.
The Trump Media ETFs are still awaiting approval from the US Securities and Exchange Commission (SEC), which has not yet authorized any CRO ETFs for US trading, Crypto.com said.
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