Bitcoin treasury firms add 7,300 BTC in June as preferred-share market weathers first major stress test
BitcoinTreasuries.net said June’s margin-call-driven selloff pushed Strategy’s STRC and Strive’s SATA below par, but dividend payments continued, trading topped $10 billion and new Bitcoin-linked credit initiatives still emerged.
Public companies added about 7,300 BTC on a net basis in June, led by Strategy and Strive, even as BitcoinTreasuries.net said a June selloff became the first meaningful stress test for the more than $10 billion corporate credit market built around Bitcoin holdings. The downturn pushed Strategy’s STRC to about $75 and Strive’s SATA to around $88 after Bitcoin fell below $60,000 and margin calls forced leveraged investors to sell, but dividends continued, combined June trading volume in the two securities exceeded $10 billion and prices later recovered to roughly $87 and $97, respectively. Continued Bitcoin buying and Metaplanet’s July 10 plan to study tokenized credit instruments in Japan suggest companies are still exploring Bitcoin-backed financing structures, though the episode heightened concern about leverage and liquidity risk.
- preferred shares: A class of stock that typically pays set dividends and ranks ahead of common shares in payouts.
- margin calls: Demands from lenders for additional collateral after losses, which can force investors to sell assets.
- tokenized credit instruments: Debt-like products issued and recorded using digital token infrastructure rather than only traditional market systems.