Despite fallout from Iran airstrikes… U.S. companies pursuing a 'digital asset treasury strategy' buy more Bitcoin

As Bitcoin plunged in the wake of U.S. and Israeli airstrikes on Iran, it emerged that U.S.-listed companies that have adopted a “Digital Asset Treasury (DAT)” strategy instead increased their Bitcoin holdings.

According to filings with the U.S. Securities and Exchange Commission (SEC) on the 2nd (local time), Strategy (formerly MicroStrategy), led by Chairman Michael Saylor, bought an additional 3,015 bitcoins between the 23rd of last month and the 1st of this month. Funds raised through sales of common and preferred shares were used for the purchases.

Over the past six weeks, Strategy has secured more than $900 million by selling common stock and perpetual preferred shares, using the proceeds to fund Bitcoin purchases. The company currently holds more than about 720,000 bitcoins.

ProCap Financial, led by Anthony Pompliano—often dubbed a Bitcoin evangelist—also purchased an additional 450 bitcoins over the same period, bringing its total holdings to 5,457. The company is also pursuing shareholder-value enhancement measures, including buying back its own shares at a discount to net asset value (NAV).

These companies are employing a DAT approach aimed at boosting corporate value by incorporating digital assets such as Bitcoin into their balance sheets in place of cash. Their additional buying despite heightened market volatility is interpreted as a signal that they remain confident in a long-term price rise.

Some in the industry also say that such bargain buying by listed firms helped support sentiment for a short-term market rebound.