After a Quiet First Quarter, Bitcoin (BTC) Accumulation Is Roaring Back

After a quiet first quarter, Bitcoin (BTC) accumulation is roaring back, and it's not just exchange-traded funds (ETFs) or hedge funds leading the charge.

In a quiet first quarter, Bitcoin (BTC) accumulation went largely unnoticed. Now, however, it seems to be roaring back, and it’s not just exchange-traded funds (ETFs) or hedge funds leading the charge.

From sovereign wealth funds to e-commerce conglomerates, the latest round of Bitcoin disclosures suggests a surprising pivot toward institutional crypto adoption.

São Paulo fintech company Méliuz has become the first publicly traded firm in Brazil to add Bitcoin to its treasury.

The company confirmed a $28.4 million BTC purchase following a successful shareholder vote earlier this year.

The move, first announced in June, saw 99.9% of shareholders vote in favor of allocating part of the company's treasury to crypto assets.

At the time of the vote, the company planned to buy up to 10 BTC, but it appears to have purchased a smaller amount than anticipated.

Abu Dhabi's Mubadala Investment Company has also disclosed a new Bitcoin holding. The sovereign wealth fund has acquired 8.7 million shares of BlackRock's spot Bitcoin ETF (IBIT).

At an average price of $4.7, the fund's Bitcoin ETF holding is valued at roughly $408.5 million.

The new filing comes ahead of Mubadala's second-quarter earnings report, which is due to be published on Thursday.

Saudi Arabia's central bank has also disclosed a new equity holding—this time, in the U.S.-based firm Strategy, known for its aggressive Bitcoin strategy.

According to a recent filing, the Saudi Arabian Monetary Authority (SAMA) acquired 25,656 shares of Strategy at an average price of $67.88 during the second quarter.

The investment is valued at approximately $1.75 million.

The news comes as Saudi Arabia continues to explore the potential of digital assets. Earlier this year, the central bank announced plans to launch its own central bank digital currency (CBDC).

The country is also a member of the Financial Stability Board (FSB), which recently proposed new regulations for crypto exchanges and stablecoin issuers.

The new filings come amid a broader trend of institutions adding Bitcoin to their balance sheets.

Earlier this year, several large corporations, including Tesla and Block, disclosed their Bitcoin holdings.

The filings also highlight the growing interest in Bitcoin among institutional investors.

As the price of Bitcoin continues to rise, more and more institutions are likely to allocate a portion of their portfolios to the cryptocurrency.

In other news, Chinese-American e-commerce group DDC Enterprise Ltd (OTCMKTS:DDCE) has announced plans to accumulate up to 5,000 BTC over the next three years.

The company, which is known for selling products like cookware and mattresses, said it is pivoting towards a new strategy with a focus on Bitcoin.

The move follows a successful shareholder vote earlier this year to allocate part of the company's treasury to crypto assets.

"We are now initiating an enterprise-level strategy to integrate BTC as a primary strategic reserve asset in our treasury management in accordance with best practices for efficient capital allocation and in alignment with shareholder interests," said the company in a statement.

The company added that it has already begun buying BTC and aims to acquire 100 BTC per quarter, or a total of 400 BTC, over the next year.

The firm also said it plans to use BTC for payments and accept contributions in the cryptocurrency.

"We believe that BTC can serve as a hedge against inflation and currency devaluation, especially given the macroeconomic climate and the potential for BTC to appreciate in value over time."

The company's statement concluded by saying that it is "committed to maximizing shareholder value and driving long-term growth through this unique strategy."

The move by DDC Enterprise follows a trend of companies adding Bitcoin to their balance sheets.

Earlier this year, several large corporations, including Tesla and Block, disclosed their Bitcoin holdings.

The filings come as more institutions are planning to include Bitcoin in their portfolios due to inflation fears and geopolitical uncertainty.

The growing interest from institutions could lead to greater global legitimacy and, perhaps, lower volatility for Bitcoin in the coming years.

In a surprising development, Ukraine is reportedly in the final stages of planning a national Bitcoin reserve and may partner with Binance to execute the strategy.

According to a report by the Russian news outlet RIA Novosti, Ukrainian lawmakers are finalizing legislation to establish the reserve.

The move follows the United States' executive order under the Trump administration to create a Bitcoin strategic reserve using seized crypto from criminal activity.

The report claims that Ukraine's plan is a response to the U.S. initiative and is part of a broader strategy to introduce new economic policies.

The country'