Corporations Accelerate Bitcoin Treasuries as Stablecoin Adoption Surges
Corporations are increasingly accumulating Bitcoin (BTC), with a Norwegian deep-sea mining company, Green Minerals AS, planning to invest $1.2 billion in BTC to diversify its assets. Entrepreneur Anthony Pompliano has launched ProCap BTC, aiming to acquire up to $1 billion in Bitcoin. Tether and Bitfinex transferred $3.9 billion in Bitcoin to Twenty One Capital, a new firm backed by SoftBank and Cantor Fitzgerald. Meanwhile, crypto hedge fund executives from Coral Capital Holdings are raising $100 million for a Binance BNB treasury through a new entity, Build & Build Corporation, which plans to file for a Nasdaq listing. Stablecoins are gaining traction, with the U.S. nearing stablecoin legislation and South Korea's banks developing a won-backed stablecoin to reduce U.S. dollar reliance. The stablecoin market is valued at $239 billion, predominantly tied to the dollar, with experts predicting the rise of yield-bearing stablecoins as a significant trend in the sector.
