Bitcoin mining stocks surge after strong US jobs data. BTC treasury plans expand in Asia while two 14-year-old wallets move $2.18B in BTC.
Stocks of Bitcoin (BTC) mining firms rose this week after the release of the latest US job data. Markets were taken by surprise when the June nonfarm payroll came in with figures showing the creation of 147,000 jobs and an unemployment rate of 4.1 percent.
Crypto Stocks Bounce Based on Positive US Economy Outlook
This was interpreted as a note of a healthy economy by investors, leading to optimism that the US is likely to escape a strong economic slowdown. The job report made primary stock indexes such as the S&P 500 and the Nasdaq near new all-time highs.
Bitcoin mining companies moved in lockstep, with shares of Riot Platforms, Hive Digital, Hut 8, MARA Holdings, and Bitfarms surging between 13 percent and 28 percent over four days. These stocks gained even as markets closed early ahead of the July Fourth holiday weekend.
The VanEck Digital Transformation ETF, which tracks firms like Coinbase and various mining companies, rose as much as 3.2 percent on Thursday. Year to date, it has climbed more than 20 percent.
The positive economic signals eased fears of immediate interest rate hikes, adding further momentum to crypto-related equities. Analysts believe that lower interest rates and a stronger risk appetite can support Bitcoin’s price and related stocks.
Bitcoin itself touched a high of $110,541 before pulling back to around $108,959, still up nearly two percent for the week.
New Acquisition Signals Push to Bring Bitcoin Treasury Strategy to Southeast Asia
While U.S. miners celebrated gains, a major move unfolded in Thailand that could reshape how firms handle Bitcoin in Asia. A consortium led by backers of Metaplanet, a Tokyo-listed firm known for holding large BTC reserves, announced plans to acquire DV8.
DV8 is a public company in Thailand that focuses on retail and consumer electronics distribution. The group expects to take possession of at least 75 percent of DV8 in a voluntary tender offer.
The filing was posted on the Stock Exchange of Thailand. The consortium involved UTXO Management, Sora Ventures, Kliff Capital and AsiaStrategy.
These groups want to introduce a corporate BTC treasury model to Southeast Asia. This strategy involves using Bitcoin as a key part of a company’s reserves rather than traditional cash or bonds.
Jason Fang from Sora Ventures expressed excitement about Thailand but declined to share details on how they would balance operations with Bitcoin holdings.
Thai Consortium Eyes Regional Expansion
In recent months, other companies, like an Australian biotech firm and a Spanish cafe chain, saw their stocks spike after announcing Bitcoin treasury plans. But, analysts fear these moves could trigger forced sales and market instability if things go wrong.
They argue that small companies with lower expenses might manage Bitcoin treasuries better than larger firms under financial stress.
Metaplanet’s recent aggressive buying spree highlights both the excitement and controversy. The Japanese firm recently purchased 1,005 Bitcoin, spending $104 million.
Its total holdings now exceed 13,000 BTC, making it Asia’s largest corporate holder of the digital asset. The Thai consortium wants to recreate this model but on a new stage. If successful, this could mark a turning point for corporate finance in Asia.
14-Year-Old Bitcoin Wallets Spring to Life, Move $2.18 Billion in BTC
Meanwhile, two Bitcoin wallets, silent for over 14 years, have suddenly sprang to life. Each held 10,000 BTC, originally transferred in 2011 from a single address.
Back then, the total 20,000 BTC was worth just $7,800. Today, that same amount is valued at an astonishing $2.18 billion.
The wallets, known only by their cryptic addresses, moved their funds to new locations within 30 minutes of each other. This happened late Thursday night into early Friday morning, sparking curiosity across the crypto world.
In 2011, one vanity-addressed wallet sent three addresses 23,377.83 BTC. Two of them got 10,000 BTC each, and the third one got 3,377.83 BTC. There was expenditure on the smaller amount then, but the bigger-sized wallets remain untapped to date.
The latest transfers, which occur on these two addresses, appear as the first transactions after they receive the money, as shown by records on the blockchain. It’s also unclear if one person controls both wallets. The mystery adds intrigue to an already fascinating story.
Bitcoin’s price has been steady, trading at $109,064 on Friday morning, down slightly by 0.09%. It has held strong above $100,000 recently, a key level for investors. Some experts believe a bigger economic event could push BTC past its current record high.
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