US Digital-Asset Treasury Companies Add Bitcoin Despite Iran Strike Shock

US-listed companies pursuing a digital asset treasury, or DAT, strategy bought more Bitcoin even after the cryptocurrency tumbled in the aftermath of US and Israeli strikes on Iran.

SEC filings dated April 2 show that Strategy, formerly MicroStrategy and chaired by Michael Saylor, bought 3,015 Bitcoin between March 23 and April 1. The purchases were funded with proceeds from sales of common stock and preferred shares.

Over the past six weeks, Strategy raised more than $900 million through sales of common stock and perpetual preferred shares and used the money to buy Bitcoin. The company now holds more than 720,000 Bitcoin.

ProCap Financial, led by Bitcoin advocate Anthony Pompliano, also bought 450 Bitcoin during the same period, lifting its total holdings to 5,457. The company has also been repurchasing its own shares at a discount to net asset value, or NAV, as part of a strategy to enhance shareholder value.

These companies are using a DAT strategy that seeks to boost corporate value by putting digital assets such as Bitcoin on their balance sheets instead of holding cash. Their additional purchases despite heightened market volatility underscore continued confidence in Bitcoin's long-term price appreciation.

Some in the industry say the dip buying by these listed companies also helped support sentiment for a short-term market rebound.