Bitcoin hoarding is back again, institutional finance is riding the bull market

Corporate bitcoin buyers acted in unison this week, with companies in Japan, France and the United Kingdom increasing their holdings in bitcoin. Some have restarted suspended plans, and some have even emptied other tokens in the treasury and made full bets on Bitcoin.

While these actions are taking place, Bitcoin is currently trading at approximately US$76,990.

Remixpoint cleared all altcoins, leaving only bitcoin

Remixpoint, a diversified energy and technology company listed on the Tokyo Stock Exchange, appears to be leading the way in Japan. The company told regulators on Wednesday, September 2 that it had cleared all of its altcoin positions the day before and would only hold Bitcoin thereafter.

Remixpoint sold 901.45 Ethereum, 13,920 Solana, 1.19 million XRP and 2.8 million dogcoins on September 1. These assets totaled approximately 878.8 million yen (approximately US$5.5 million). Compared with a book value of approximately 761 million yen, the sale recorded a gain of approximately 117.8 million yen (approximately 737,000 U.S. dollars).

However, not all positions are profitable. Documents show that the company lost 3.3 million yen on Dogecoin, while the other three tokens achieved profits. Remixpoint said they weighed market conditions, the risk profile of each asset and their own financial strategy before deciding to narrow the portfolio. Currently, the company holds approximately 1,506 bitcoins worth approximately US$115.3 million.

On BitcoinTreasuries.net, the company's Bitcoin holdings still show at 1,501 because its latest data ended on August 19. Despite a small increase since then, it will remain the 38th largest publicly held company in Bitcoin, closely behind BitFuFu, currently ranked 37th. Remixpoint has also been lending its bitcoins, earning fees of 14.92 bitcoins between February 24 and August 31, valuing the company at approximately 164.2 million yen (approximately US$1 million). At the close of the Tokyo stock market that day, the company's share price fell 5%.

Adam Back injects capital into Capital B again

On September 2, French finance company Capital B (formerly known as The Blockchain Group) confirmed that it had completed a private placement of 7.6 million euros, which was fully subscribed by Adam Back, CEO of Blockstream, one of Bitcoin's early developers. Back subscribed for 13.18 million shares at a price of 0.58 euros per share, a premium of 15.4% to the previous closing price, and was given 4 warrants for every share held. Capital B said the funds will be mainly used to purchase more bitcoins, and expects that the proceeds, combined with income from continuing operations, can purchase approximately 376 bitcoins.

This will increase its Bitcoin holdings to 3,521 from 3,145 reported in mid-August. If the accompanying warrants are fully exercised, an additional € 49.4 million will be earned in the future. In addition, Back's shareholding in common shares rose to 17.77% after this offering, and if all warrants are converted, its shareholding may reach 27.8%. This concentration may raise governance concerns among analysts focusing on treasury stocks.

The UK and Singapore continue to increase their holdings

In London, Smarter Web Company increased its holdings of 35 bitcoins based on the company's latest announcement, bringing its treasury position to 2,747, rising to 29th among listed company holders. The Bristol-based Internet services company has been buying in small batches since 2020 rather than making large one-time purchases.

Singapore's Genius Group is preparing for a larger operation. On August 27, the company announced a five-year capital plan of $1.2 billion, of which $827 million will be earmarked for Bitcoin, and the purchase plan is expected to restart in the fourth quarter of 2026. That goal amounts to a fresh start because the education company sold its remaining bitcoin earlier this year to repay $8.5 million in debt, causing the bitcoin position on its balance sheet to zero. Only $12.5 million has been raised through preferred stock, indicating that the plan is still a long way from completing the purchase.

This wave has also affected the largest companies. According to Cryptopitan, Dallas asset manager Strive has increased its holdings of approximately 1,800 bitcoins in the recent week, bringing its total holdings to 23,156, surpassing Bullish to fifth place among public company holders, despite its quarterly loss of $257.6 million.

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