In the current wave of the digital economy sweeping the globe, Bitcoin, as an emerging means of value storage and strategic asset, is increasingly favored by institutions and enterprises. Recently, from the establishment of public Bitcoin reserves by the government of Texas to several listed companies actively allocating Bitcoin, a wave of "Bitcoin reserve trend" is rising in North America and even globally. This not only reflects the market's increasing recognition of Bitcoin's value but also indicates a profound transformation in Bitcoin's status within the global financial system.
On June 24, according to CoinDesk, Texas Governor Greg Abbott signed Senate Bill No. 21, making the state the first in the U.S. to establish an independent Bitcoin reserve supported by public funds. The bill requires the state government to set up a Bitcoin reserve managed independently of the main financial system and allocates $10 million for the purchase of Bitcoin to enrich this reserve.
This move is significant as it not only marks the government's recognition of Bitcoin's legitimacy and strategic value but also provides a model for other states and even countries to explore digital asset reserves. Unlike Arizona and New Hampshire, which have similar legislation, Texas not only authorized the establishment but also provided actual funding support, showcasing its leading position in the digital asset field.
In addition to government actions, several listed companies have also joined the ranks of Bitcoin reserves, viewing it as an important component of corporate strategic development:
ECD Automotive Design: On June 23, ECD Automotive Design, the world's largest Land Rover and Jaguar restoration company (NASDAQ: ECDA), announced it had signed a $500 million equity financing agreement with ECDA Bitcoin Reserve LLC. This financing aims to implement an innovative Bitcoin reserve strategy, positioning the company as a next-generation value storage asset and attracting customers from the Bitcoin and broader digital asset community. ECD even plans to explore helping customers invest digital assets in high-end real-world assets (RWA) and offer a $21,000 vehicle upgrade credit to the first 21 customers who purchase new cars with Bitcoin.
Trump Media & Technology Group: Trump Media & Technology Group (stock code DJT) announced plans to repurchase $400 million worth of stock, emphasizing that this repurchase will not affect its previously announced Bitcoin allocation plan. This plan is supported by $2.3 billion in private financing and has been approved by the U.S. Securities and Exchange Commission. This indicates that even in the face of significant financial decisions like stock buybacks, Bitcoin allocation remains an important strategic consideration.
Responses from Europe and Asia: On June 24, according to Cointelegraph, The Blockchain Group, the first Bitcoin reserve company in Europe, announced it had increased its holdings by 75 Bitcoins, bringing its total to 1,728 Bitcoins. Additionally, Japanese listed company Metaplanet also announced on June 23 that it continued to increase its holdings by 1,111 Bitcoins, reaching a total of 11,111 Bitcoins. These cases indicate that the Bitcoin reserve trend is not unique to the U.S. but is a global phenomenon.
In Latin America, Brazilian company Méliuz has become the largest corporate Bitcoin holder in the region with a purchase amount of $28.6 million. The company purchased BTC at an average price of $103,864 and proudly claims that its investment value has increased. Méliuz initially focused on providing cashback and discount coupons but has now transformed into a "Bitcoin-first" company, becoming part of the global phenomenon of corporate Bitcoin adoption.
The case of Méliuz is particularly noteworthy as it not only leads in Latin America but also ranks among the top global corporate Bitcoin holders. This indicates that even companies with traditional business models are beginning to recognize Bitcoin's potential as a strategic asset and are actively undergoing transformation.
Despite the growing interest from enterprises and governments in Bitcoin, this trend has also raised some concerns among economic experts. For instance, the $1 billion merger announced by Anthony Pompliano aims to create a new company providing "Bitcoin-native financial services," but its stock price fell by 24%. This reflects the market's cautious attitude towards the potential risks of such a "Bitcoin-first" strategy.
Economic experts generally worry that, in the context of global macroeconomic difficulties and extreme volatility in the crypto market, companies may face significant challenges in balancing traditional business with Bitcoin allocation. The volatility of Bitcoin could have a significant impact on a company's balance sheet, especially for those that shift a large portion of their funds to Bitcoin, making the risks non-negligible.
The Bitcoin reserve trend initiated by U.S. companies is undoubtedly a highlight of the current global financial market. From the Texas government's pioneering example to the proactive layouts of companies like ECD and Trump Media, and the rise of regional giants like Méliuz, Bitcoin is gradually transforming from a niche digital currency into a widely recognized strategic asset. However, while embracing opportunities, companies must also fully recognize the volatility of the Bitcoin market and develop prudent risk management strategies. In the future, how Bitcoin's role in the global economy will evolve is worth our continued attention.
Related: Trump Media & Technology Group states that the $400 million stock repurchase plan will not affect the Bitcoin (BTC) treasury plan.
Original article: “U.S. Embraces Bitcoin Reserve Trend: From State Government to Listed Companies, Bitcoin (BTC) is Becoming a New Generation Strategic Asset”
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