Small Public Companies Buy 602 Bitcoin, Total $46 Million

A group of smaller public companies added Bitcoin to their corporate reserves last week, signaling continued institutional interest even as the market's largest holder paused its purchases. The firms collectively acquired 602.6 Bitcoin, worth approximately $46 million, as the cryptocurrency's price traded below $80,000.

The purchases were led by asset manager Strive, which added 381.6 Bitcoin at an average price of $79,348 per coin, according to a filing with the U.S. Securities and Exchange Commission. Consumer brand DDC Enterprise Limited acquired 200 Bitcoin at an average price of $79,496, increasing its total holdings to 2,583 Bitcoin. The Smarter Web Company purchased 19 Bitcoin at an average price of $77,687, and Hyperscale Data bought 2 Bitcoin in the open market.

This activity occurred during a period of broader market pressure. Spot Bitcoin exchange-traded funds recorded $1.54 billion in combined net outflows over the six trading days leading up to Friday. The buying by smaller treasury firms presents a contrast to the pause in accumulation by Strategy, the largest corporate Bitcoin holder. That company had disclosed a purchase of 24,869 Bitcoin for about $2.01 billion...