Coin-Stock Barometer | Strategy Buys 1,550 BTC at Low to Prop Up Buy Orders; Bitmine Increases Holdings by Nearly 127,000 ETH Last Week (June 9)
- Core Viewpoint: This issue focuses on the divergence between the US stock market and the cryptocurrency market, emphasizing that the recent correction in traditional financial markets is seen as a healthy pullback, while the crypto market is in a cyclical bear market phase. Meanwhile, multiple listed companies are continuing to increase their holdings of digital assets such as Bitcoin and Ethereum, while exploring cross-investment opportunities between AI and the crypto space.
- Key Elements:
- Morgan Stanley believes the recent sell-off in US stocks is a healthy correction, maintains its S&P 500 price target of 8,000 points, and expects corporate earnings to continue strengthening.
- The founder of Token Bay Capital points out that the current decline in Bitcoin exhibits characteristics of a "mid-cycle bear market," and a lack of recovery by the fourth quarter would be a more concerning sign of a structural market collapse.
- Net weekly purchases of Bitcoin by listed companies surged over 9 times sequentially. Strategy added 1,550 BTC for approximately $100 million, bringing its total holdings to 845,256 BTC.
- French company Capital B is seeking shareholder approval to raise over $100 billion through the issuance of new shares and credit instruments to increase its BTC holdings.
- Ethereum treasury company FG Nexus incurred a loss of over $100 million from selling 10,000 ETH, while Bitmine disclosed an increase of over 120,000 ETH.
- Forward Industries incurred a loss of nearly $1.13 billion on its Solana investment, while Hyperliquid Strategies holds an unrealized profit of over $1.1 billion on HYPE.
- Genius Group launched an AI treasury, investing in unlisted AI companies such as SpaceX and OpenAI, indirectly gaining exposure to the crypto-related sector.
Editor's Note: In last week's "Crypto-Stock Barometer" article, we highlighted NVIDIA founder Jensen Huang's "market-moving picks," after which several stocks, including Marvell (MRVL), performed strongly. Although some stocks dipped last Friday due to a broader pullback in the US stock market, they remain high-quality assets in the long run, worthy of long-term bets. Additionally, "White-Haired Stock Guru" Serenity has begun frequently publishing stock picks outside the US market, once driving A-share stocks like Leaderdrive and Zhongji Innolight up by over 10% or even 20% to their daily trading limits. Finally, the AI-fueled frenzy surrounding semiconductor stocks continues. On platform X, employees of Samsung and SK Hynix are sharing updates related to their business operations. It is recommended to follow research institution @citrini and its affiliated analyst accounts to closely monitor market trends. The "largest IPO in history," SpaceX's IPO, will take place this week. For participation channels, refer to the article "The Largest IPO in History Arrives: What Channels Do Retail Investors Have for SpaceX?"
For more information on the crypto-stock market, please visit MSX.COM. (Note from Odaily: This content is for learning and communication purposes only and does not constitute investment advice).
US Stocks and Crypto Market See Contrasting Fortunes; Traditional Financial Uptrend May Continue
Morgan Stanley: Recent Sell-off in US Stocks is a Healthy Correction, Maintains S&P 500 Target of 8,000 Points
Strategists at Morgan Stanley stated that the sell-off in US stocks last Friday, driven by position adjustments, is a healthy correction. The team led by Mike Wilson pointed out in a research report that the decline was led by the semiconductor and memory sectors, which have seen significant gains year-to-date. They noted that concentrated holdings by hedge funds and leveraged ETFs have allowed risks to accumulate. The team believes that if this bull market continues until the end of the year, market adjustments are inevitable and, in the long run, constructive. The strategists maintain their base target of 8,000 points for the S&P 500 index, implying an upside potential of about 8% from current levels, and expect corporate earnings to remain strong, growth breadth to expand further, and macroeconomic data to continue providing market support.
View: Current Market is a 'Classic Cyclical Bear Market'; Only Worrisome if BTC Fails to Recover by Q4
Lucy Gazmararian, founder of Token Bay Capital, stated that the recent Bitcoin price correction is more characteristic of a typical "mid-cycle bear market" rather than a structural market collapse. The market is currently in a normal adjustment phase within the historical cycle. Although Bitcoin's price is under pressure, there are no signs yet that its long-term investment thesis has been undermined. Therefore, this correction should be viewed more as a cyclical fluctuation rather than a signal of fundamental deterioration in the crypto market.
However, Gazmararian also emphasized that if Bitcoin fails to show a clear recovery by the fourth quarter of this year, it could indicate the market is entering a deeper correction or a phase of structural risk. Currently, interest in AI investment is rising, particularly with market attention on Anthropic's potential IPO. However, these capital flows do not come from the same pool as crypto-native capital. Therefore, the AI investment boom does not necessarily imply a massive outflow of funds from the crypto market.
Weekly Updates on Crypto-Related Public Companies
Representative Companies Holding BTC Treasuries
Weekly Net BTC Purchases by Listed Companies Surge Over 9x QoQ; Strategy Leads Buying on the Dip
According to SoSoValue data, as of 8:00 AM ET on June 8, 2026, the total weekly net purchase of Bitcoin by global listed companies (excluding mining companies) was $101 million, a 925.38% increase from the previous week.
Strategy (formerly MicroStrategy) spent approximately $100 million last week to purchase 1,550 Bitcoins at $65,332 per coin, bringing its total holdings to 845,256 Bitcoins.
Japanese listed company Metaplanet did not purchase Bitcoin last week.
Additionally, another company purchased Bitcoin last week. Asset management firm Strive announced between June 1 and June 7 that it spent $2.05 million to purchase 32 Bitcoins at $63,911 per coin, bringing its total holdings to 19,032 Bitcoins.
Capital B announced it has opened online voting for its June 17 shareholder meeting, seeking authorization for the board to establish a capital increase of up to €5 billion nominal value and issue debt instruments of up to €100 billion nominal value for the purpose of purchasing Bitcoin. Major Ethereum holder BitMine announced it would replicate MicroStrategy's financing model, planning to raise significant capital by issuing up to $300 million in Series A perpetual preferred stock (ticker BMNP) on the NYSE, with an annualized dividend yield of 9.5% paid weekly.
As of press time, global listed companies (excluding mining companies) tracked in the data collectively hold a total of 1,115,732 Bitcoins, an increase of 0.14% from last week, with a current market value of approximately $70.3 billion, representing 5.6% of Bitcoin's circulating market capitalization.
Michael Saylor: Strategy's USD Reserve Increased by $100 Million, Total Reaches $1 Billion
Strategy founder Michael Saylor announced that Strategy has increased its USD reserve by $100 million, bringing the total to $1 billion.
Strategy previously disclosed adding 1,550 Bitcoins last week, further boosting its Bitcoin reserve to 845,256 Bitcoins. Following this addition, Strategy remains one of the publicly listed companies holding the largest amount of Bitcoin globally, further solidifying its Bitcoin-centric asset allocation strategy.
Strategy Announces Semi-Monthly Dividend Payment Schedule for STRC
Bitcoin treasury company Strategy announced that its shareholders have approved an adjustment to the dividend payment mechanism for its perpetual preferred stock, STRC, moving to a semi-monthly distribution schedule.
Capital B Plans to Raise $116.4 Billion via Credit Instruments to Increase BTC Holdings
French listed company Capital B (ALCPB) is seeking shareholder approval to raise up to $5.82 billion through the issuance of new shares and up to $116.4 billion through the issuance of credit instruments, intended for increasing BTC holdings.
Bitcoin treasury company Genius Group announced the official launch of its AI treasury, having completed the initial investment in the AGI Infinity Portfolio. The company purchased 10,000 shares of Destiny Tech100 and 800 shares of the Fundrise Innovation Fund, representing the first tranche of its phased investment plan towards the $100 million AI treasury target.
According to disclosed data, this allocation provides Genius Group with indirect exposure to several leading unlisted AI companies, including Anthropic (approx. 16% of the portfolio), SpaceX (11%), OpenAI (7.4%), Databricks (7.4%), Shield AI (2%), and Anduril Industries (0.7%). Genius Group stated it will continue to grow its AI treasury through a dollar-cost averaging plan over the coming months.
Representative Companies Holding ETH Treasuries
FG Nexus Sells 10,000 ETH, Total Loss Exceeds $100 Million
A wallet identified by Arkham as belonging to Nasdaq-listed FG Nexus (0x4a2...b82) transferred 10,000 Ethereum, worth approximately $17.8 million, on Wednesday. FG Nexus accumulated 50,770 Ethereum between August and September 2025 at an average price of $3,860, with the position valued at about $196 million at the time.
Due to Ethereum's price falling to around $1,765, its original investment has realized and unrealized losses exceeding $100 million. In pre-market trading on Thursday, FG Nexus shares fell 13.40% to $7.11.
Bitmine Discloses Adding 126,971 ETH, Total Staked Exceeds 4.718 Million ETH
Ethereum treasury company Bitmine Immersion Technologies disclosed adding 126,971 ETH last week. The company's current crypto asset holdings include 5,543,872 ETH, 204 BTC, equity in Eightco Holdings valued at $88 million, and shares in Beast Industries valued at $180 million. Additionally, the total amount of ETH staked by the company is 4,718,677 (valued at $7.7 billion based on $1,630 per ETH).
Representative Companies Holding SOL Treasuries
Nearly $1.13 Billion Loss: Forward Industries Deposits 455,000 SOL into Coinbase
According to Lookonchain monitoring, Forward Industries deposited 455,784 SOL, worth $31.87 million, into Coinbase Prime after a month-long pause. Since launching its Solana reserve strategy in September 2025, Forward Industries has invested a total of approximately $1.59 billion, buying 6.83 million SOL at an average price of $232.08. Currently, this position of 6.83 million SOL is worth only $458.6 million.
Representative Companies Holding Altcoin Treasuries
Unrealized Profit Exceeds $1.1 Billion: Hyperliquid Strategies Holds Approximately 23.7 Million HYPE
As of June 5, 2026, DAT companies like Strategy and Metaplanet, which primarily hold Bitcoin, Ethereum, and Solana, have generally seen massive unrealized losses. Data shows that Hyperliquid Strategies currently holds approximately 23.7 million HYPE. Although HYPE has fallen from its all-time high above $74 this week, the company still has unrealized gains exceeding $1.1 billion. Hyperion DeFi holds about 2 million HYPE, with unrealized gains of around $35 million.
Hyperion DeFi Unwinds ~$28.7 Million HYPE Agreements, Involving 800,000 HYPE, ~40% of Total Holdings
Hyperliquid treasury company Hyperion DeFi is unwinding two agreements totaling approximately $28.7 million, involving roughly 800,000 HYPE tokens, which account for about 40% of its total holdings. The stablecoin USDH backing these two transactions has effectively ceased operations. The larger agreement is a 500,000 HYPE agreement with the Felix Foundation, valued at $18.3 million as of March 31, which supported USDH-denominated trading activity in the HIP-3 perpetual contract market. The second is a temporary usage agreement for 300,000 HYPE with Native Markets, valued at $10.4 million on the same date, aimed at broader support for the USDH economy.
TON Strategy: Received 3.3 Million TON in Staking Rewards in May, Earnings ~$5.6 Million
Nasdaq-listed company TON Strategy disclosed that it earned approximately 3.3 million TON rewards in May from staking about 227 million Toncoin. At market prices, this is equivalent to roughly $5.6 million, implying an initial annualized staking yield of about 1.48%. The company has staked almost all of its TON holdings and supported a series of enacted network upgrades in the latest governance proposal, including improving smart contract execution efficiency, block synchronization, and validation capabilities to enhance throughput and scalability.
