The BTC Trinity: Strategy's Unexpected Pause Last Week and Latest Moves in Bitcoin Reserve Expansion

The "BTC Trinity," comprising U.S.-based Strategy (NASDAQ: MSTR), Japan's Metaplanet (TYO: 3350), and Europe's The Blockchain Group (EPA: ALTBG), represents three of the most influential entities in the global Bitcoin ecosystem. These companies have established themselves as pioneers in leveraging Bitcoin as a cornerstone of their financial and operational strategies.

Historically, the BTC Trinity has consistently expanded their Bitcoin holdings on a weekly basis while maintaining transparency in their financial disclosures. As part of our ongoing coverage of the BTC Trinity's strategic moves, this update highlights their latest acquisitions and upcoming plans, offering readers a chance to revisit our previous reports for a deeper understanding of their growth trajectories.

Strategy Pauses Bitcoin Buying Spree, Total Holds 597,325 BTC

Strategy recently paused its aggressive Bitcoin buying spree for the first time in three months, coinciding with the release of its Q2 financial results.

As of July 6, 2025, Strategy holds 597,325 BTC, valued at approximately $65 billion. The average purchase price of its Bitcoin holdings stands at $70,982 per coin, representing an investment of around $42.4 billion, including fees and expenses. This accounts for 2.8% of Bitcoin’s total supply of 21 million coins and implies paper gains of roughly $22.6 billion.

The pause in Bitcoin purchases, which lasted from June 30 to July 6, marks the first such halt since April. Saylor alluded at the decision on X, stating, "Some weeks you just need to HODL."

During Q2, Strategy reported an unrealized gain of $14.05 billion from its Bitcoin holdings, lifting the carrying value of its digital assets to $64.4 billion. However, the company also incurred a deferred tax expense of $4.04 billion.

To further strengthen its Bitcoin acquisition strategy, Strategy announced a $4.2 billion at-the-market program for its Series A Perpetual Stride Preferred Stock (STRD). STRD offers a fixed 10% annual dividend and is non-convertible.

Metaplanet Acquires Additional 2,205 BTC, Total Holdings Reach 15,555 BTC

On July 7, Metaplanet confirmed the acquisition of an additional 2,205 BTC, bringing its total Bitcoin holdings to 15,555 BTC. This follows the purchase of 1,005 BTC on June 30, 2025, reflecting the company’s aggressive approach to bolstering its Bitcoin reserves.

CEO Simon Gerovich highlighted the company’s financial performance, stating, “Q2 revenue from our Bitcoin Income Generation business rose 42.4% to ¥1.097 billion ($8.2 million). This accelerating growth affirms the strength of our strategy — building a sustainable, scalable, and operationally efficient business on a Bitcoin standard.”

Metaplanet’s Bitcoin Yield metrics further underscore its operational efficiency. From April 1 to June 30, 2025, the company achieved a BTC Yield of 129.4%. In the week from July 1 to July 7, 2025, its BTC Yield reached 15.1%, showcasing its ability to generate substantial returns within a short period.

The Blockchain Group Adds 116 BTC, Lifting Total Holdings to 1,904

The Blockchain Group (ALTBG), a European Bitcoin treasury firm, has made significant strides in its Bitcoin strategy during early July 2025.

The company announced an equity and convertible bond issuance totaling €11 million ($12.1 million) on July 1, aimed at advancing its Bitcoin Treasury Company strategy.

On July 7, The Blockchain Group confirmed the acquisition of 116 BTC for approximately €10.7 million ($12.51 million), bringing its total Bitcoin holdings to 1,904 BTC. The average acquisition price for this purchase was nearly €90,332 ($105,688) per Bitcoin.

The company’s Bitcoin strategy has yielded impressive results, achieving a BTC Yield of approximately 1,348% year-to-date.

Additionally, The Blockchain Group reported a BTC gain of roughly 539.5 BTC year-to-date and 101.8 BTC quarter-to-date, reflecting the effectiveness of its investment approach.

Notable investors, including TOBAM and Adam Back, contributed to the recent financing rounds, enabling purchases of 11 BTC for about €1 million ($1.17 million) and 105 BTC for close to €9.8 million ($11.47 million), respectively. These investments reflect strong institutional interest in The Blockchain Group’s Bitcoin treasury strategy.

Institutional Ambitions and Bitcoin's Liquidity Challenge

Strategy's pause marks its first break from Bitcoin purchases in three months, sparking market speculation. The simultaneous launch of a $4.2 billion at-the-market stock program suggests a need for fresh capital to fuel its reserve expansion. This financing move adds leverage to the firm’s already aggressive strategy, reflecting Michael Saylor’s continued conviction in Bitcoin.

As more large institutions and corporations adopt Strategy's model of using Bitcoin as a strategic reserve, an increasing amount of BTC is being permanently held, reducing liquidity in the market. Coupled with the rising mining difficulty, this trend raises concerns about the diminishing availability of Bitcoin in circulation.

Bitcoin has hovered within the $105K to $110K range for nearly a month, supported by the robust structural demand from major institutions. While this demand provides stability to the token's price, it also limits volatility, leaving many curious about the direction of the next significant market shift.