Corporate treasury departments have launched an aggressive $7.8 billion buying campaign in cryptocurrencies this week, marking one of the largest corporate crypto acquisition efforts in recent history [1]. The move comes as traditional financial firms, often restricted from direct crypto purchases, increasingly seek exposure through corporate vehicles. The surge in buying activity is concentrated on Ethereum (ETH), with at least five public companies committing to purchase over $3 billion in ETH—45 times the amount of ETH issued in the past week. Ether (ETH) has emerged as the most coveted asset among institutional investors [1].
Several firms have announced major transactions to fund their crypto purchases. Bitcoin miner BTCS Inc. filed plans to raise up to $2 billion in equity, while Sharplink Gaming, already the second-largest ETH treasury firm, added $338 million in ETH through two separate purchases. The Ether Machine joined the trend by buying 15,000 ETH worth approximately $57 million. Meanwhile, two new ETH-focused firms emerged this week: 180 Life Sciences rebranded to ETHZilla Corp in a $425 million deal, and Fundamental Global became FG Nexus after a $200 million restructuring [1].
Beyond Ethereum, altcoins have also attracted significant interest. Tron Inc., a penny stock company taken over by Justin Sun’s Tron blockchain, announced plans to raise $1 billion to buy TRX. Three other companies revealed intentions to purchase Solana (SOL), Sui (SUI), or BNB, with CEA Industries—formerly a Canadian vape company—now rebranded as a BNB-focused treasury firm following a takeover by 10X Capital and YZi Labs. CEA aims to raise $500 million and potentially unlock up to $1.25 billion in BNB, reportedly held by Binance co-founder Changpeng Zhao [1].
The broader trend has seen over 16 corporate disclosures this week regarding crypto acquisitions, with Bitcoin remaining a top target. Seven companies have either proposed or executed purchases totaling $2.7 billion in Bitcoin. MicroStrategy (now Strategy) added 21,021 Bitcoin following a $2.5 billion raise from its preferred stock offering. The UK’s The Smarter Web Company spent $26.5 million on 225 Bitcoin, and Japan’s Metaplanet purchased 780 Bitcoin for around $92 million. Energy firm ZOOZ Power also entered the space with plans to buy Bitcoin using $180 million in capital [1].
Despite the aggressive buying, analysts warn of structural risks. According to Galaxy Research’s Will Owens, crypto treasury companies collectively hold over $100 billion in digital assets, with nearly all of it in Bitcoin. However, the model relies on sustained equity premiums, as seen in companies like Strategy (58%) and Metaplanet (179%). If investor sentiment shifts or crypto prices correct, the model could become fragile, especially if the premium to net asset value collapses [1].
The market backdrop has been volatile, with Bitcoin dropping to a three-week low near $114,000 amid uncertainty over U.S. President Donald Trump’s new tariff executive order [2]. The broader sell-off across traditional and digital assets has created a challenging environment, yet corporate buyers remain committed to their crypto strategies, signaling long-term confidence.
This coordinated buying effort reflects an evolving landscape where institutional demand is reshaping crypto market dynamics. As more firms adopt similar strategies—raising equity and allocating capital to crypto—market movements could become more pronounced, particularly as macroeconomic conditions continue to shift.
Source:
[1] Cointelegraph – Monster week for crypto treasury firms with $8B buying blitz
https://cointelegraph.com/news/crypto-treasury-firms-8-billion-crypto-buys
[2] advfn.com – Bitcoin dips below $115K as Trump tariff order fails to comfort investors
https://mx.advfn.com/bolsa-de-valores/COIN/BTCUSD/crypto-news/96539674/bitcoin-dips-below-115k-as-trump-tariff-order-fai
