Estrategía Añade 1,955 BTC al Portafolio del Tesoro, Liderando la Tendencia de Adquisición de BTC Esta Semana

Los grandes jugadores acumulan mientras los pequeños retail dudan.

Movimiento institucional masivo

Una estrategia corporativa desconocida acaba de ejecutar una de las mayores adquisiciones semanales de Bitcoin—inyectando 1,955 BTC directamente en su tesorería. Este movimiento no solo refleja una confianza audaz en el activo digital, sino que también establece un precedente claro para otros fondos y empresas que observaban desde la barrera.

¿La razón detrás de la acumulación?

Más que una simple apuesta, esta jugada parece una cobertura contra la inflación y la volatilidad de las monedas fiduciarias—clásico movimiento de quienes realmente entienden el juego a largo plazo. Mientras los tradicionalistas se aferran a sus balances conservadores, los visionarios construyen fortalezas con código y consenso.

Para los escépticos: otro día, otra dosis de realidad financiera descentralizada. Para el resto, una señal más de que el futuro de los treasury assets ya está aquí—y no pide permiso.

Strategy returned to MSTR issues

For the latest BTC purchase, the bulk of liquidity came from MSTR issuance. A little over $200M for BTC purchases came from the latest MSTR addition. 

This is the second week Strategy has returned to its MSTR ATM facility, following a period of relying on preferred stocks. The new issuance happened after Strategy changed the rules for mNAV values, allowing it to mint more MSTR for purchases or other costs related to its BTC acquisition model. 

During the latest purchase period, Strategy also used $5.2M from the STRK ATM facility, for now reserving other preferred shares for ongoing acquisitions. 

The entire treasury is now at 638,460, which is still below the level of leading ETFs. Currently, Strategy operates with a mNAV ratio of 1.55, which would require more cautious MSTR additions to avoid dilution. At this level, the ratio still shows confidence in MSTR and its ability to transform fiat into BTC, but also signals a weakening exuberance from peak levels. 

Following the latest issue, MSTR traded at $335.87, while STRF preferred shares traded at $111.50. STRC traded close to its nominal value at $97.60. STRK traded at $95.55, while STRD offered the biggest discount at $78.50. Strategy continues to offer different tiers of risk, potentially drawing in diverse investors. 

Competition for treasury status increases

Within the top 100 treasury companies, the minimal BTC holding is now at 78 BTC, up from just 20 BTC a few months ago. Smaller acquisitions continue, either with available cash or through special fundraising facilities. 

Public companies now own 1,005,879 BTC, with the bulk still held by the top 5 entities. However, smaller buyers and new financing facilities are still emerging. Firms like Capital B announce small raises of up to EUR 5M ($5.86M) to pursue their own treasuries. 

For now, the buying has not materialized into the expected BTC supply crunch. However, the smaller buyers add to the predictable demand for more BTC, even when Strategy and Metaplanet slow down their buying. 

ETFs still hold the bulk of BTC, at 1.5M coins, but are also active sellers. Treasuries for public and private companies either hold BTC passively or sell in extremely rare cases. For now, treasury companies have not reported liquidating their BTC, with most showing long-term confidence. While some of the smaller BTC corporate treasuries are a vanity item, the general trend contributes to the BTC holding structure.

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