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Orange rush

Everyone’s buying bitcoin except Strategy

“Some weeks you just need to HODL.”

7/10/25 9:16AM

It’s been a great week for bitcoin, which hit a new all-time high yesterday, crossing $112,000 for the first time.

Bitcoin treasury companies also notched a record, acquiring 159,107 bitcoin in Q2, according to Bitwise, far surpassing the 95,431 BTC purchased in Q1.

Companies are buying bitcoin, Q2 2025 edition pic.twitter.com/0UxrlIZQvb
— Bitwise (@BitwiseInvest) July 9, 2025

One notable absentee this week: Strategy, the largest bitcoin corporate holder, with 597,325 bitcoin, paused its weekly bitcoin purchases for the first time since April.

“Some weeks you just need to HODL,” cofounder Michael Saylor posted on X.

Others didn’t feel the same, and kicked off the second half of 2025 with more buys:

Metaplanet acquired 2,205 bitcoin for $238.7 million and now holds 15,555 bitcoin.
Another Japanese company, Remixpoint, raised $215 million via financing to purchase bitcoin, with a short-term goal of buying 3,000 bitcoin.
Semler Scientific acquired 187 bitcoin for $20 million, now holding 4,636 bitcoin. Earlier this week, Benchmark Equity Research initiated coverage of the company with a “buy” rating and a price target of $101, a 140% upside from today’s price, following the company’s bitcoin pivot in May.
Energy management platforms company KULR Technology also increased its bitcoin holdings, acquiring 90 bitcoin for $10 million. It now holds 1,021 bitcoin.
Paris-based semiconductor company Sequans Communications, which surged earlier this week after raising 7x its market value to buy bitcoin, executed its first purchase, acquiring 370 bitcoin “as part of its newly launched bitcoin treasury strategy.”
Another French company, The Blockchain Group, also added to its stockpile by acquiring 116 bitcoin. It now holds 1,904 bitcoin.
Further north, The Smarter Web Company, a London-listed technology company, acquired 226.42 bitcoin as part of its “10 Year Plan” treasury policy. It now holds 1,000 bitcoin.
KULR Technology acquired 90 bitcoin and now has 1,021.

Meanwhile, new entrants to the treasury game keep coming. Real estate company Murano said it had executed a standby equity purchase agreement worth up to $500 million to invest in bitcoin.

The company, which owns and develops hotel, resort, and commercial properties throughout Mexico and aims to become “a major BTC holder,” acquired 21 bitcoin to start its stockpile.

Finally, Chinese bitcoin mining company Cango announced it mined 120.7 bitcoin:

📊#WeeklyUpdate
Last week, we mined 120.7 #BTC, our strongest weekly production since April. Our total holdings now stand at 3,941.3 BTC, with no sales to date.

Focused on steady growth and long-term value.
Closing in on 4,000 BTC. #CryptoMining #Bitcoin $CANG #HODL pic.twitter.com/GIviifVgNk
— CANGO (@Cango_Group) July 4, 2025

$1.2B

Yaël Bizouati-Kennedy10/17/25

Crypto liquidations reached $1.2 billion in the past 24 hours, according to CoinGlass data, as bitcoin continued its downward trajectory. Bitcoin suffered $458.24 million in liquidations, with the bulk of them — over $334 million — in long positions. Meanwhile, the second-biggest crypto, ethereum, saw the second-biggest figure for liquidations yesterday, with $278 million.

Bitcoin slipped as far as $103,856 early Friday morning, its lowest level since July, and is down 13% in the past seven days. The sell-off dragged the total crypto market cap down to $3.67 trillion, down 5.5%. Underscoring the market anxiety, CoinMarketCap’s fear and greed index is now at 28.

Bitcoin ETFs also suffered, registering $536 million in outflows on Thursday. The Ark 21 Shares Bitcoin ETF took the biggest hit, with $275.15 million in outflows. Since Monday, bitcoin ETFs have seen $864.5 million in outflows.

Maja Vujinovic, CEO and cofounder of digital assets at FG Nexus, told Sherwood News that bitcoin’s slump looks like a classic risk-off chain reaction.

“Credit jitters and trade tensions pushed money into gold at record highs while leveraged crypto longs were forced to unwind. Once the liquidations exhaust and policy fog clears, the same macro buyers chasing safety today are likely to hunt value in BTC again,” Vujinovic said.

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$15B

Yaël Bizouati-Kennedy10/15/25

The US government seized 127,271 bitcoin, worth $15 billion, in what it calls the Department of Justice’s “largest ever forfeiture action.”

The indictment against Chen Zhi, chairman of Cambodian conglomerate Prince Group, alleges that he engaged in wire fraud conspiracy using forced labor in Cambodia.

“Individuals held against their will in the compounds engaged in cryptocurrency investment fraud schemes, known as ‘pig butchering’ scams, that stole billions of dollars from victims in the United States and around the world. The defendant is at large,” according to a DOJ press release.

This is “exactly the kind of outcome the Strategic Bitcoin Reserve was designed to enable,” Zack Shapiro, managing partner at Rains Law and head of policy of the Bitcoin Policy Institute, said on X.

This significantly increases the size of the US’s strategic reserve, which held over 197,000 bitcoin before the seizure. As of today, Arkham Intelligence data shows it’s holding 324,780 bitcoin, worth over $37 billion.

Everyone’s buying bitcoin except Strategy

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