Bitcoin balance sheets of publicly traded companies continued to grow in May. According to BitcoinTreasuries.net data, companies added a net 43,557 BTC during the month. The total amount announced or purchased before the sales reached 51,045 BTC. Considering Bitcoin’s May 31 closing price of $73,579.69, the monetary equivalent of the net increase was approximately $3.2 billion.
Strategy maintained its first place in purchases
Strategy, which maintains its largest position among companies holding institutional Bitcoin, purchased 25,404 BTC in May. The company also announced that it sold 32 BTC at the beginning of June. This amount accounted for only 0.004% of their total assets.
While Chairman of the Board Michael Saylor described this transaction as routine capital management, he stated that the company plans to buy 10 to 20 BTC for every 1 BTC sold and that there will be no net seller.
Company management stated that sales only come to the fore when the Bitcoin per share rate improves. Strategy financed the majority of the purchases through the STRC preferred share program. In May, 1.95 billion dollars were provided through in-market sales.
Mini dictionary: Preferred stock is a security that carries different rights than ordinary shares. It usually provides fixed or set dividends, and companies can create equity-like financing through this instrument.
Strategy’s share in the total volume in STRC transactions was 27%. While STRC’s market value reached $10.5 billion, its average liquidity in the last 30 days was recorded as approximately $375 million. It was reported that this level was above similar privileged shares of large banks.
Strive stood out in terms of growth rate
Strive, one of the companies that follow a Bitcoin treasury strategy, also showed remarkable growth in May. The company added 1,943 BTC during the month and purchased another 2,500 BTC on June 2. Thus, Strive’s Bitcoin holdings increased by approximately 30.5% in a month. During the same period, Strategy’s growth rate remained at approximately 10%.
Strive financed its acquisitions through the SATA preferred share program. It was calculated that the company collected approximately $276 million through in-market sales in May. The largest single-day resource inflow on May 29 was approximately 87 million dollars. This amount corresponded to the purchase of approximately 1,180 BTC at that day’s levels.
While announcing that daily dividend payments for SATA will begin on June 16, the company’s CEO, Matt Cole, said that this is the first listed security in the US capital markets to pay cash dividends every business day.
SpaceX statement may change ranking
The biggest one-time Bitcoin announcement of the reporting period came from SpaceX. The company announced that it holds 18,712 BTC. This amount accounted for more than a third of the total corporate additions recorded before the sales in May. Following the announcement, SpaceX is expected to enter the top 10 in the corporate Bitcoin rankings.
In the same period, American Bitcoin bought 500 BTC and rose to 15th place on the list. Institutional buying continued even though the Bitcoin price remained nearly 42% below its all-time high at the end of the month. Strategy also received shareholder approval for a change to the STRC dividend structure on June 8; The company will make payments twice a month to support liquidity and transaction stability.
