According to Capriole Investments founder Charles Edwards, long-term holders—known in crypto circles as “OGs”—have been systematically selling their BTC holdings to institutions. “They’re dumping on Wall Street,” Edwards said, explaining the persistent selling pressure.

New Cohorts Absorb the Sell-Off

Edwards highlighted that the six-month BTC holder group has absorbed nearly all of the supply sold by long-term holders over the last 18 months. This new cohort includes recent corporate entrants like Cardone Capital, ProCap (which is going public), Panther Metals, and Green Minerals.

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He believes these firms will spark a “massive Bitcoin treasury flywheel,” eventually overtaking the ETF narrative as more companies jump in to accumulate BTC.

Short-Term Caution Ahead of Economic Triggers

Meanwhile, BTSE’s Jeff Mei noted that traders are locking in profits ahead of the July 9 tariff deadline, fearing unresolved trade tensions. He added that more public companies are starting to accumulate Bitcoin, though their impact may take time to materialize.

Han Xu from HashKey Capital pointed out that macroeconomic risks—such as tariff negotiations and budget legislation in the U.S.—are making investors cautious. Any unexpected developments “could trigger a sell-off,” he warned.

Despite these concerns, Bitcoin remains in a tight trading range between $102,000 and $110,000. On Monday, BTC briefly touched $108,750—its highest in two weeks—but failed to break resistance.

Notably, U.S. spot Bitcoin ETFs have seen over $3.2 billion in inflows in the past two weeks, with zero outflow days, and more Bitcoin treasury firms are appearing each week.

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The post Why Is Bitcoin Stuck? Analyst Says OGs Are ‘Dumping on Wall Street’ appeared first on Coin Engineer.

ProCap Buys 3,724 Bitcoin Worth $386 Million

ProCap, a Bitcoin financial services firm, announced on Tuesday it has purchased 3,724 Bitcoin for $386 million. The buy comes shortly after revealing a plan to go public later this year through a SPAC merger with Columbus Circle Capital.

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The company acquired the assets at a time-weighted average price of $103,785 per coin. Since the purchase, the value has already risen close to $400 million.

Pompliano explained the firm’s aggressive strategy with a simple phrase: “Bitcoin is the new hurdle rate. If you can’t beat it, you have to buy it.”

Going Public Via SPAC Deal

To go public, ProCap is merging with blank-check company Columbus Circle Capital. The firms have raised more than $750 million to support the deal—$516 million in equity and $235 million in convertible notes.

The merged entity will be named ProCap Financial and plans to use the capital to buy up to $1 billion worth of Bitcoin, joining a growing list of companies building crypto-focused treasuries.

Corporate Bitcoin Buying Trend Accelerates

If ProCap were public today, it would rank 14th among publicly traded companies by Bitcoin holdings, just behind Semler Scientific.

This week alone, firms like Strategy, Metaplanet, Grant Cardone’s company, Panther Metals, and Green Minerals have all added significant Bitcoin holdings. The message from corporate America is becoming clear: Bitcoin is now a core treasury asset.

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The post ProCap Buys $386M in Bitcoin Ahead of Public Listing appeared first on Coin Engineer.

Strengthening Financial Resilience Through Bitcoin

Executive Chairman Ståle Rodahl explained the reasoning behind this shift:
“In a time of aggressive monetary expansion, maintaining a solid balance sheet is more important than ever. Bitcoin’s decentralized and inflation-resistant nature aligns perfectly with our long-term capital preservation and growth objectives.”

According to Rodahl, this decision not only mitigates fiat-related risks but also reflects Green Minerals’ dedication to financial innovation.

$1.2 Billion Target Backed by Strategic Partnerships

Green Minerals plans to raise up to $1.2 billion in funding alongside its partners, with a significant portion allocated to building its Bitcoin reserves. This strategy aligns with the first HEDSM (Highly Efficient Deep-Sea Mining) program under the company’s “Partnership for Responsible Production” framework.

Introducing BTC/Share for Greater Transparency

To increase transparency for investors, Green Minerals will launch a new performance metric called “BTC/share.” This indicator will reflect the amount of Bitcoin held per share, providing clear visibility into the company’s digital asset backing.

Blockchain Integration Across the Supply Chain

Beyond treasury management, the company sees blockchain as a powerful tool to improve supply chain transparency, verify mineral sourcing, and boost operational efficiency. By integrating blockchain technology throughout its processes, Green Minerals aims to stay ahead of industry standards and future regulatory expectations.

First Bitcoin Purchase Just Days Away

Green Minerals is preparing to complete its initial Bitcoin acquisition in the coming days. The company has committed to maintaining transparency throughout the rollout and will provide regular updates on the progress and performance of the strategy.

This strategic decision positions Green Minerals not only as a leader in sustainable mining, but also as an innovator in financial and technological transformation within the resource extraction sector.

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The post Green Minerals Announces Billion Dollar Bitcoin Treasury Strategy! appeared first on Coin Engineer.