The number of companies holding bitcoin as treasury assets has nearly doubled this month, exceeding 240 companies with a total of 3.45 million BTC as Coinbase increased by 12%.
The global market is clearly shifting towards a risk-on state despite ongoing geopolitical tensions. The latest report from QCP Capital shows the Nasdaq 100 setting a new record high, while oil prices have returned to pre-conflict levels, even as Israel resumes limited strikes after the ceasefire.
In the digital asset sector, Coinbase became the center of attention when its stock rose 12% to $344.94 on June 24 – its highest closing price in over 6 months. The primary momentum driving this increase came from two significant legal milestones.
First, the United States passed the GENIUS Act – a long-awaited legal framework to clarify compliance standards for stablecoins, paving the way for broader financial institution participation. Second, Coinbase was approved under the EU's MiCA regulation through a Luxembourg license, becoming the first US exchange to obtain a pan-European operating license in the crypto sector.
Companies Increasing Bitcoin Investment as Reserve Asset
The demand for holding bitcoin from financial institutions continues to grow strongly. Procap – an investment fund managed by Anthony Pompliano – drew attention with a bitcoin purchase worth $386 million. The number of companies holding bitcoin as a treasury asset has nearly doubled just this month, now exceeding 240 companies with a total of over 3.45 million BTC held.
This trend reflects a shift in corporate investment strategies as they seek to diversify their reserve asset portfolios. If this trend continues, bitcoin may soon directly compete with gold in its role as a macro risk hedge.
Although geopolitical risks have not disappeared – with NATO officials continuously warning about escalating military tensions with Russia – markets seem to be ignoring this concern. Asset prices are reflecting risk as a "new normal state" rather than an exception.
