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Crypto

Companies ditch altcoins and focus on bitcoin as corporate BTC hoarding picks up again

Corporate bitcoin stockpiling is accelerating again, with companies in Japan, France, Britain and Singapore moving to expand holdings this week. Japan\'s Remixpoint sold all its altcoins and said it will hold only bitcoin, leaving it with about 1,506 BTC. France\'s Capital B secured a 7.6 million euro private placement taken up by Adam Back and plans to use most proceeds to buy more bitcoin. Britain\'s Smarter Web Company and Singapore\'s Genius Group also outlined additional purchases.

Crypto

Bitcoin weakness spurs selloff rush by bitcoin treasury companies

As bitcoin price weakness drags on, listed companies are reducing their holdings. Empery Digital sold 370 bitcoins at an average $66,632 each to raise $24.7 million and repaid an outstanding term loan, freeing about 1,800 bitcoins from collateral. Genius Group sold its remaining 84 bitcoins to repay $8.5 million in debt. Riot Platforms transferred 500 bitcoins worth about $34.13 million. Bhutan also sold 3,103 bitcoins, including 375 in a single transaction on March 30.