Transaction Breakdown: 5,284 ETH Redeemed, 4,364 ETH Deposited to OKX

Blockchain data reveals that SharpLink’s wallet performed two large “RedeemManagerV1 (Proxy)” transactions about eight hours ago.
These redemptions totaled 563.201 ETH ($1.88M) and 4.721K ETH ($15.75M) — releasing 5,284 ETH in total liquidity.

Shortly after, the wallet deposited most of this amount to OKX:

• 5h ago – 0.01 ETH ($33.25)
• 4h ago – 2,000 ETH ($6.64M)
• 1h ago – 2,364 ETH ($7.83M)

In total, 4,364 ETH worth roughly $14.47 million was sent to OKX.

Why Did SharpLink Transfer to OKX?

SharpLink likely moved its ETH to OKX for liquidity management and strategic repositioning. The company may plan to convert part of its holdings to cash, leverage exchange-based trading and staking options, or rebalance its corporate treasury. Such large movements often attract attention, as they can influence market liquidity and short-term investor sentiment.

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BTCS recently executed its largest single ETH purchase in history. The 14,240 ETH acquisition increased total reserves above 70,000 ETH. Adding Pudgy Penguins brought high cultural value NFTs to the strong ETH base. Known for high floor prices and a supportive community, Pudgy Penguins has remained a top-tier collection in the NFT space since 2021. 

BTCS’s NFT Strategy Boosts Market Momentum 

This purchase reflects growing interest among companies including NFTs in corporate reserve strategies. Some experts compare this approach to MicroStrategy’s Bitcoin reserve model. Yuga Labs CEO Garga suggests NFT treasury companies could become a mainstream trend. NFTs provide cultural influence, strengthening brand connection and investor appeal. 

However, NFT price volatility and limited historical data carry risk. Nevertheless, the NFT market saw a 94% volume increase in July. Trading volume reached $6.6 billion. This recovery renewed interest in high-end collections. 

PENGU Shows Strong Technical Performance 

Following the news, PENGU rose 3.34%, outperforming the overall market’s 2.31% gain. Pudgy Penguins’ NFT floor price increased 7% weekly. The company also signed a licensing deal with China-based Suplay Inc. and gained brand space on a Williams Racing F1 car via Kraken, reaching over 85 million viewers. 

Meanwhile, PENGU trading volume rose 30% to $838 million. The token traded above key moving averages, showing strong technical momentum. Analysts predict that with the Robinhood listing, PENGU could approach DOGE price levels. August NFT market capitalization data will determine whether this momentum is sustainable. 

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The board has also approved the purchase of Bitcoin with an additional $30 million in USDC. This brings the total investment to $100 million. With this move, Figma is expanding its corporate treasury policy toward digital assets. 

Figma is widely used by product teams around the world, making its digital asset investment notable in the industry. Additionally, with its Bitcoin ETF holdings, the company has become one of the tech firms increasing digital asset adoption. For the quarter ending March 31, 2025, Figma reported $228.2 million in revenue and tripled its net profit to $44.9 million. The company plans to use IPO proceeds to pay down debt. 

Figma’s Crypto Strategy and IPO Process 

Figma shared clear financial details during the IPO process. The board approved an additional $30 million Bitcoin purchase, demonstrating the company’s commitment to expanding digital asset investments. This development places Figma among technology companies investing in Bitcoin. The company is working with leading investment banks such as Morgan Stanley, Goldman Sachs, and Allen & Co. for its IPO, planning to trade under the ticker “FIG” on the NYSE. 

Meanwhile, Figma is growing its financial scale and investment areas through the IPO. The company is strengthening the role of digital assets in corporate treasuries in light of rapid technological advancements. This move also sends a strong message to investors and users alike. 

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Sweden-based publicly traded health technology company H100 made a remarkable investment decision. The company purchased 4.39 Bitcoin for 5 million Norwegian kroner. Thus, it became the first publicly traded company in Sweden to add BTC to its balance sheet. 

This investment led to a nearly 40% increase in the company’s stock price. The purchase was made as part of H100’s “Bitcoin Treasury Strategy.” The goal is to convert cash reserves into a stronger, long-term asset like Bitcoin. 

CEO Sander Andersen said, “H100’s addition to the Bitcoin Treasury Strategy follows the growing number of technology-focused growth companies holding Bitcoin on their balance sheets.” 

“And I believe the values of individual sovereignty, which are quite common in the Bitcoin community, align with and appeal to the customers and communities we are building the H100 platform for,” he added. 

A Financial Vision Strengthened by Bitcoin Investment 

H100 did not stop with this investment. The company announced it may acquire more Bitcoin in the future. To this end, it signed a letter of intent with an undisclosed investor for a 10 million SEK credit facility. The funds will be used for general purposes and potential BTC purchases. 

Additionally, led by Blockstream CEO Adam Back, an additional 21 million SEK in funding was secured. Moreover, this investment reflects H100’s confidence in digital assets. H100 did not stop with this investment. The company announced it may acquire more Bitcoin in the future. With the newly raised funds, it plans to purchase approximately 20.18 more Bitcoin. 

21,000,000 SEK has been raised in a convertible round led by the legendary @adam3us

Accelerating our Bitcoin treasury strategy and strengthening our focus on sovereign health — let’s build! pic.twitter.com/SrpbKM2TID

— H100 (@H100Group) May 25, 2025

The company continues its core operations in health technology development. H100 provides solutions to healthcare and longevity service providers through AI-based automation systems and digital platforms. 

According to BitcoinTreasuries.net, more than 109 publicly traded companies worldwide hold Bitcoin on their balance sheets. H100 became the first Swedish company to join this group. Companies first adopted Bitcoin as a corporate asset in the U.S. with a strategy led by Michael Saylor. This approach began with MicroStrategy adding BTC to its balance sheet. Subsequently, companies spread this approach to Latin America and Europe, making it widespread globally. Particularly, organizations in technology and finance have actively started using Bitcoin as a reserve asset. 

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Quantum Biopharma, a Canadian biotechnology company, has announced the purchase of $1 million in Bitcoin and other cryptocurrencies. According to a press release dated May 19, this move brings the firm’s total crypto holdings to approximately $4.5 million.

A Crypto Treasury Strategy Emerges in Biotech

The company also revealed plans to stake a portion of its digital assets to generate additional revenue. According to management, this strategy aims to provide returns for shareholders and act as a hedge against the weakening Canadian dollar.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

Following the announcement, shares of Quantum Biopharma (QNTM) surged by around 25%, reflecting investor optimism toward the firm’s crypto-focused financial strategy.

Biotech Companies Turning to Bitcoin

Quantum is part of a growing trend among healthcare companies embracing Bitcoin as a strategic asset. Back in March, Atai Life Sciences, a NASDAQ-listed biotech firm, unveiled plans to purchase $5 million worth of Bitcoin. Its founder, Christian Angermayer, stated, “Bitcoin should be part of any corporate treasury—especially in the biotech sector.”

On May 16, Basel Medical Group, a Singapore-based healthcare provider, disclosed its intent to buy $1 billion in Bitcoin. However, unlike Quantum, Basel’s stock took a significant hit after the announcement.

As of May 19, corporate treasuries collectively hold over $83 billion in Bitcoin, according to BitcoinTreasuries.NET. Public companies now rank as the second-largest institutional holders of Bitcoin, trailing only exchange-traded funds (ETFs).

According to Fidelity Digital Assets, Bitcoin can serve as a “valuable hedge against growing fiscal deficits, currency debasement, and geopolitical risks.”

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MicroStrategy Leadership 

MicroStrategy is at the forefront with $124 billion in Bitcoin purchases. The company has amassed over 500,000 Bitcoin through innovative financial instruments like debt and equity issuance. Bernstein predicts that MicroStrategy could reach 1 million BTC by 2033, controlling 5% of Bitcoin’s total supply. However, the report emphasizes that this model may not suit every firm. 

Participation of Small Firms 

Bernstein forecasts that small and low-growth firms will invest $205 billion in Bitcoin. These companies are emulating MicroStrategy’s model to create value. Firms with over $100 million in cash reserves, in particular, see Bitcoin as a way forward. Pro-crypto regulations in the U.S. are accelerating this trend. 

Analysts state, “For these firms, there’s no clear path to value creation. The MicroStrategy model offers them a rare growth opportunity.” Bernstein predicts these firms will invest $205 billion in Bitcoin, particularly those with over $100 million in cash. However, analysts caution that not every “Bitcoin treasury will succeed by simply copying MicroStrategy’s playbook.” 

MSTR stock closed at $394.37 on May 2, 2025, with a 283.53% increase over the past 52 weeks. However, its volatility remains high. Since 2020, the company has purchased over 555,000 BTC, valued at approximately $38 billion, representing more than 2.6% of Bitcoin’s total supply. 

MicroStrategy Leadership and Regulatory Support 

The U.S. SEC’s relaxation of crypto custody rules has made it easier for banks to hold Bitcoin. Bernstein notes that these regulatory changes will have a global impact, with other countries likely to follow suit, further boosting Bitcoin’s institutional adoption. 

Corporate interest in Bitcoin is growing rapidly. MicroStrategy’s leadership and regulatory support are fueling this trend. However, not every company can successfully implement this strategy. Investors should remain mindful of Bitcoin’s volatility. 

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