Five other public companies are buying Bitcoin this week.

Owning Bitcoin in businesses is becoming a trend, with five companies and many more making new purchases. Some of these companies are making initial investments, while others are expanding their reserves.

Addentax has announced a plan to spend 1.3 billion USD on Bitcoin, adjusting from a previous commitment of 800 million USD for TRUMP and BTC. This clear shift towards Bitcoin maximalism is being reflected by many other companies.

Business purchases of Bitcoin continue to rise

The strategy has created a huge shock by becoming a Bitcoin "whale", with many corporate investors around the world joining them.

Currently, public companies are buying more BTC than ETF issuers, who are surpassing global mining output. To illustrate the strength of this trend, five companies announced significant BTC purchases this week:

"Addentax announced that they have signed a non-binding agreement… to purchase up to 12,000 Bitcoin, significantly increasing the scale of the transaction from the previously discussed 8,000 BTC. This proposed purchase transaction represents a total market value of approximately 1.3 billion USD," the company said in a press release.

Addentax attracted attention a month and a half ago when it committed to spending 800 million USD on BTC and TRUMP. However, it seems that the plan has changed.

This announcement has directly referred to the previous plan, enhancing the purchase of Bitcoin and completely eliminating TRUMP. Clearly, many corporate investors are now fully focused on Bitcoin maximization.

Some companies like DeFi Development are copying this strategy with altcoins, but BTC still holds a dominant position. The massive commitment from Addentax is certainly the largest commitment of the day, but other business entities are also ramping up their investments in Bitcoin:

With the current price at 109,000 USD, H100 is spending over 5 million USD on BTC. Mogo, a lending platform from Canada, has been authorized to purchase up to 50 million USD, while Genius Group, a business education group using artificial intelligence in Singapore, has purchased Bitcoin worth 2.1 million USD.

The K33 bank of Sweden only purchased 10 BTC, but that is still a significant commitment.

All of this company's Bitcoin investments are raising concerns about the potential formation of a new bubble. Many cryptocurrency companies are performing better than the assets they hold, which seems unsustainable.

How will DeFi continue to function if retail investors lose interest in this largest cryptocurrency asset?

Moreover, there is another serious concern. Financial advisors are recommending that every institutional investor should consider buying Bitcoin, but many corporate investors are facing much more difficulties.

The increasing number of companies is shifting towards BTC as their original core business becomes unviable.

The Strategy itself has made a similar move, so this is not an uncommon occurrence. However, unrealized losses and forced liquidations are significant threats, especially for unsuspecting investors. If the price of Bitcoin drops sharply, this could trigger a crisis for some of these institutional investors.

Mr. Giáo