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Companies are getting FOMO over strategic bitcoin reserves

There’s growing momentum around a national bitcoin strategic reserve, and now several companies are rushing to set up their own reserves while longtime HODLers are laying out plans to increase their supply.

Yaël Bizouati-Kennedy

The trend of keeping a company’s cash in bitcoin is picking up steam among businesses of all stripes and sizes as bitcoin continues its massive bull run, with bitcoin spot ETFs surpassing Satoshi’s stash of 1.1 million bitcoin.

MicroStrategy set the bar (very) high, and several companies are trying to replicate the mega stockpiler’s effort. 

Earlier this week, Marathon Digital announced aggressive bitcoin-buying plans following the upsizing of its senior-note offering to $850 million. Marathon CEO Fred Thiel said on X it was “looking forward to chasing” MicroStrategy and “watching $MSTR accumulate more BTC.”

As for MicroStrategy, it’s in an entirely different league. As of November 14, the company held 279,420 bitcoin, with plans to buy even more.

Eyes are also watching Microsoft, which is set to vote on whether it will buy bitcoin for its treasury at its upcoming December 9 shareholder meeting.

Here are some of the other companies who are bullish on bitcoin:

Hut 8

The bitcoin-mining company announced on December 4 that it was launching a $250 million stock repurchase, intending to use the proceeds partly for “the purchase of bitcoin as a strategic reserve asset.”

As of September 30, Hut 8 held 9,106 bitcoin in reserve.

Rumble

The video-sharing platform announced on November 25 that it would buy up to $20 million bitcoin.

“Unlike any government-issued currency, bitcoin is not subject to dilution through endless money-printing, enabling it to be a valuable inflation hedge and an excellent addition to our treasury,” Rumble chairman and CEO Chris Pavlovski said in the press release.

Thumzup

Social-media branding company Thumzup announced on November 15 that its board “had approved the purchase of up to $1 million in bitcoin.”

“As demand for Bitcoin increases and it gains recognition as a leading asset class, we believe it will serve as a robust reserve asset for our treasury,” Robert Steele, Thumzup CEO, said in a press release.

Acurx Pharmaceuticals

On November 20, the pharma company said its board approved “the purchase of up to $1 million in bitcoin to hold as a treasury reserve asset.”

“This new treasury strategy is a finance strategy and has no impact on our overarching drug development plans,” David P. Luci, Acurx president and CEO, said in the press release.

Genius Group

On November 12, the AI-powered educational company said it was adopting a “bitcoin-first” strategy with 90% of its reserves to be held in bitcoin.

Genius Group said it would use its $150 million at-the-market funding “to acquire an initial target of $120 million in bitcoin, to be held for the long term as its primary treasury reserve asset.”

On November 18, it bought its first $10 million of bitcoin. On November 21, it said it had increased its bitcoin purchases “for its bitcoin treasury by an additional $4 million to 153 bitcoin for $14 million, at an average price of $91,372 per bitcoin.”

Cosmos Health 

On November 18, pharma and health group Cosmos Health announced it was incorporating bitcoin and ethereum “as part of its treasury reserve assets” but did not disclose details on the amount of crypto they would add.

Further underscoring its trust in crypto assets, the company said it was “working to accommodate customers who wish to make payments in cryptocurrencies.”

Solidion Technology

Solidion, an advanced battery-materials provider, announced on November 14 that it would allocate “a significant portion of its excess cash reserves to bitcoin.

“This move, alongside the broader pro-bitcoin environment influenced by the recent election of a pro-crypto administration, solidifies the company’s long-term belief in bitcoin’s role as a store of value and a strategic asset,” the company said in a press release.

Solidion will allocate 60% of its excess cash to bitcoin and “convert interest earnings on cash held in money market accounts to Bitcoin.”

In addition, it said it set aside funds for future bitcoin purchases.

What about Tesla?

Tesla, while still high in the bitcoin-reserve rankings, has actually gone the other direction, selling a large chunk of its bitcoin reserves in 2022 at a loss and recently moving roughly $765 million in bitcoin to unknown wallets, according to Arkham Intelligence. Perhaps Musk needs the money to pour into his company town? 

Yaël Bizouati-Kennedy is a financial journalist who’s written for Dow Jones, The Financial Times Group, and Business Insider, among others.

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Sage D. Young

Ethereum looks likely to register first monthly green candle since August

Ethereum has increased nearly 4% in the last 24 hours, outpacing crypto majors in the period. 

If the asset can hold the current level, trading around $2,065, ethereum will record its first monthly green candle since August, helping the token outperform the broader market slump during the Iran War.

Amid the news, BitMine Immersion Technologies, the largest ethereum treasury firm and largest staking entity, announced acquiring 71,179 tokens, or $146.3 million, in the past week. 

“Crypto is demonstrating itself to be a good ‘war time’ store of value,” BitMine Chairman Tom Lee said in a press release. 

“The inverse correlation of crypto (and equities) to oil has been increasing and is at the highest levels in the past year. This is logical. Until equity markets become comfortable with the future trajectory of oil prices, rising oil is a headwind for equities and crypto. And in a sense, the crypto winter likely ends when the upside risk to oil prices peaks,” Lee continued.

Meanwhile, ethereum ETFs suffered last week, with the investment vehicles registering $206.6 million in outflows, the third-most in the year, data from SoSoValue shows. 

In other ethereum news:

  • The Ethereum Foundation staked around $46.2 million worth of ethereum on Monday, according to on-chain data. “This is more ETH than they have EVER staked before,” Arkham Intelligence said on social media. 

  • Lido, the second-largest decentralized finance protocol and known for its liquid staking services, primarily for ethereum, is considering a $20 million buyback for its native token, LDO, which has plummeted nearly 96% since its all-time high of $7.30 set in 2021. 

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“Under the surface, the market is not broken, though it is still thin.”

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Altcoins have given back the majority of their gains since the Iran war began

While crypto altcoins outperformed for a long stretch after the outbreak of the US war with Iran, the asset class has retraced this past week.

XRP, solana, and ethereum have each dropped more than 6% in the past seven days as the total market capitalization for all of crypto (including bitcoin) has shed roughly $44 billion in the period, per CoinGecko.

Ethereum ETFs have also registered daily consecutive outflows for the past seven days, totaling more than $392.1 million. The last time these investment vehicles had such a streak was in December when ethereum decreased from $3,221 to $2,995, data from SoSoValue shows. 

The Iran war was at first a positioning shock that saw crypto thrive, in part because the asset class was “lightly owned,” according to Fredrick Collins, CEO of crypto analytics platform Velo.xyz. 

“Now as more concrete and persistent concerns about economic impacts have materialized, it’s not surprising to see crypto struggling as well,” Collins told Sherwood News. “In the face of cyclical (rather than transient) worries for risk assets in general, it’s not realistic to expect crypto to remain unscathed. And so we’ve unfortunately just not seen that initial relative strength in crypto continue to play out.”

Meanwhile, traders are expecting the price of ethereum to decline further this year. Prediction market-implied odds of the cryptocurrency sliding below $1,750 are at 81%, while the probability of the token tumbling under $1,500 stands at 68%, an increase from 52% on Monday. 

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

A drop to $1,457 would liquidate about 162,870 ethereum tokens’ worth of leveraged long positions, worth $323.3 million on Hyperliquid, per CoinGlass.

Slater Santer, a research analyst at trading firm GSR said, "Short term, the market likely remains flow-driven and headline-sensitive. Without a stabilization in ETF flows, a cooling in oil, or a renewed bid in equities, it's hard to argue for a sustained bounce in alts."

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Slater Santer, a research analyst at trading firm GSR said, "Short term, the market likely remains flow-driven and headline-sensitive. Without a stabilization in ETF flows, a cooling in oil, or a renewed bid in equities, it's hard to argue for a sustained bounce in alts."

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Yaël Bizouati-Kennedy
3/27/26
Bitcoin falls below $66,000 as Trump’s Iran extension fails to boost market sentiment

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For the first time, Fannie Mae will allow mortgages to be backed by crypto

Fannie Mae, the government-backed mortgage finance giant, will start accepting mortgages backed by cryptocurrencies — namely bitcoin and Circle’s stablecoin, USDC. 

Mortgage firm Better Home & Finance and US-based crypto exchange Coinbase Global are rolling out a new product that enables prospective homebuyers to pledge their digital assets as down payment collateral when obtaining a mortgage backed by Fannie Mae, The Wall Street Journal reported. 

This means homebuyers can secure a standard conforming mortgage without liquidating tokenized assets, which potentially triggers a taxable event.

“If BTC drops in value, the mortgage terms remain unchanged, and no additional collateral is required. Market movements alone never trigger liquidation,” per a joint press release from Better and Coinbase.

“Token-backed mortgages originated by Better are designed in accordance with Fannie Mae guidelines and remain as standard conforming mortgage loans, identical to other conforming mortgages,” the announcement continued.

Max Branzburg, head of consumer and business products at Coinbase, said, “Token-backed mortgages are a major first step to unlocking homeownership for the younger generations that have struggled with barriers to saving for a traditional downpayment.”

The announcement comes more than nine months after William Pulte, the director of the Federal Housing Agency, ordered Fannie Mae and Freddie Mac to prepare a proposal that considers cryptocurrency as a reserve asset in single-family mortgage loan risk assessment. 

Fannie Mae to Accept Crypto-Backed Mortgages for the First Time

Fannie Mae to Accept Crypto-Backed Mortgages for the First Time

This means homebuyers can secure a standard conforming mortgage without liquidating tokenized assets, which potentially triggers a taxable event.

“If BTC drops in value, the mortgage terms remain unchanged, and no additional collateral is required. Market movements alone never trigger liquidation,” per a joint press release from Better and Coinbase.

“Token-backed mortgages originated by Better are designed in accordance with Fannie Mae guidelines and remain as standard conforming mortgage loans, identical to other conforming mortgages,” the announcement continued.

Max Branzburg, head of consumer and business products at Coinbase, said, “Token-backed mortgages are a major first step to unlocking homeownership for the younger generations that have struggled with barriers to saving for a traditional downpayment.”

The announcement comes more than nine months after William Pulte, the director of the Federal Housing Agency, ordered Fannie Mae and Freddie Mac to prepare a proposal that considers cryptocurrency as a reserve asset in single-family mortgage loan risk assessment. 

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