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You Won’t Believe How Much Bitcoin Companies Now Hold, What % Of Supply Do They Control?

Bitocin treasury companies continue to accumulate a significant amount of BTC despite current market conditions and now control around 5% of the total BTC supply. These companies are led by Michael Saylor’s Strategy and Metaplanet, which have recently raised fresh capital to buy the dip. 

Bitcoin Treasury Companies Now Hold Over 1 Million In BTC

Bitcoin Treasuries data shows that the top 100 public Bitcoin treasury companies currently hold 1,058,929 BTC, while all public companies combined hold 1,061,697. Notably, Strategy is the largest public Bitcoin holder with 650,000 BTC. Michael Saylor’s company yesterday announced another 130 BTC purchase for $11.7 million. 

Meanwhile, the second-largest Bitcoin treasury company is BTC miner MARA holdings, which holds 53,250 BTC. Tether-backed Twenty One Capital, Metaplanet, and Bitcoin Standard Treasury Company complete the top 5, with 43,514, 30,823, and 30,021 BTC, respectively. Meanwhile, companies like Coinbase, Bullish, and Trump Media are among the top 10 largest BTC treasury companies. 

It is worth noting that these public companies account for only a part of the Bitcoin treasuries. Further data from Bitcoin Treasuries shows that there is currently 4 million BTC in treasuries as a whole, including the coins held by governments, private companies, exchanges, DeFi platforms, and ETFs.  

Bitcoin

BlackRock is currently the second-largest Bitcoin holder, only behind Satoshi Nakamoto. Strategy is third on the list, while Binance and the U.S. government complete the top 5, with BTC holdings of 628,868 and 323,588, respectively. The 4 million BTC held by these treasury companies as a group accounts for 19% of the total Bitcoin supply. 

Bitcoin treasury companies such as Strategy and Metaplanet have raised new capital amid the recent crash to buy more BTC. Saylor’s company recently raised $836 million from its STRE offering, which it used to buy 8,178 BTC. Meanwhile, Metaplanet raised $130 million to expand its BTC treasury. 

More Companies Set To Adopt Bitcoin

More Bitcoin treasury companies are set to emerge as $10 trillion asset manager, Vanguard, will start offering BTC ETFs from today. Notably, some companies gain BTC exposure through these ETFs rather than buying Bitcoin directly. On-chain analytics platform Arkham Intelligence revealed that the largest U.S. bank, JPMorgan, holds $300 million worth of BlackRock’s BTC ETF. 

Meanwhile, it is worth mentioning that Bitcoin treasuries such as Strategy are coming under immense pressure amid the current market downtrend. Strategy’s CEO, Phong Le, admitted that they might have to sell Bitcoin as a last resort to fund dividend payments if their mNAV drops below 1x and they can no longer raise capital. 

At the time of writing, the Bitcoin price is trading at around $87,000, up in the last 24 hours, according to data from CoinMarketCap.

Bitcoin

Strategy’s Crash Rumors Intensify, CEO Reveals When $46 Billion In Bitcoin Will Be Sold

Strategy CEO Phong Le has revealed the instance in which his company may be forced to sell its Bitcoin holdings. This comes amid concerns about the MSTR stock crash, which puts the company at risk of seeing its mNAV drop below 1. 

Strategy CEO Reveals When They Will Sell Bitcoin

During an interview on the ‘What Bitcoin Did’ podcast, the Strategy CEO said they could sell Bitcoin to fund dividend payments on their preferred shares if the mNAV is trading below 1. He alluded to the BTC yield, which is their primary KPI, and that under 1x mNAV, it is more “creative” to sell their BTC holdings to pay the dividends. 

The Strategy CEO explained that they typically raise capital when their mNAV is above 1 to fulfill their obligations, even when it is below 1. He alluded to the 2022 crypto winter when they bought back their Bitcoin-backed loans as proof that they had prepared in advance for such market conditions. However, when they are unable to raise capital, Phong Le stated that they will have no option but to sell their BTC holdings. 

Bitcoin

Strategy data shows that their mNAV is currently at 1.19. Meanwhile, the company currently holds 649,870 BTC, worth around $55 billion. With the MSTR stock on a downtrend, Michael Saylor’s company still faces the risk of seeing its mNAV fall below 1 for a sustained period. TradingView data shows that the stock is now down over 40% year-to-date (YTD) from a 2025 high of around $455. 

There were recently rumors that Strategy supposedly sold some of its Bitcoin holdings, which Saylor quickly denied. The company then went on to make one of its largest purchases this year, buying 8,178 for $836 million. This formed part of the proceeds from the company’s STRE offering. 

Saylor Teases Another Bitcoin Purchase

In an X post, Michael Saylor teased another Bitcoin purchase from Strategy. He posted the company’s BTC portfolio tracker with the caption, “What if we start adding green dots?” It is worth noting that these conventional Sunday posts have usually preceded a BTC purchase announcement by the company the following day. 

Based on this, Strategy likely bought more Bitcoin between November 24 and 30 last week. This comes amid the Bitcoin downtrend, with the flagship crypto again dropping below the psychological $90,000 level. Besides the BTC crash, the possibility of an exclusion from MSCI indices is another factor that paints a bearish picture for Saylor’s company. The MSCI will decide by January next year whether treasury companies like Strategy should remain in their indices. 

At the time of writing, the BTC price is trading at around $86,000, down over 5% in the last 24 hours, according to data from CoinMarketCap.

Bitcoin

Uvision buys SpearUAV to integrate Viper loitering families

Uvision Group has announced the full acquisition of SpearUAV, an Israeli defense technology company known for its encapsulated, AI-driven loitering systems. According to the company, the move is intended to strengthen Uvision’s multi-layered approach to loitering munitions and broaden its offerings across air, ground, sea, and subsea domains. In a release from Uvision, the company […]

China sells $13K clone of U.S. loitering munition

A Chinese aerospace startup has begun offering a low-cost loitering munition closely modeled on the American Switchblade drone for just $13,000, excluding the warhead, according to promotional materials and technical documentation reviewed by Defence Blog. ShenZhen SkyWing UAV Technology Co., a private Chinese drone company, has released details of its unnamed system, which it claims […]

Vada Pav - Street Food from Mumbai- Indian Burger

India's very own street side vegetable burger! You cannot go to Mumbai and NOT have VADA PAV- its a mortal sin if you do that ...lol

VADA PAV


This snack is synonymous with the city of Mumbai, with almost every resident, from factory workers to college students to Bollywood stars, to Visitors are unabashed in declaring their love for it. This street side business has given life to hundreds and thousands of families. A Vada Pav cart owner may be a millionaire for all we know. It is a meal of a poor and snack of the rich. Fills every one's tummy with yumminess!



Vada Pav is a crispy, flavorful sandwich that is consumed in millions across India’s financial capital and largest metropolis every single day. It's made with potato as filling for the vada which is dipped in chickpea flour batter and deep fried. It is then kept in between pav[bread roll] and served with various spicy and tangy dry/wet chutney and fried green chillies. There was a time when I used to ask for extra dry chutney from the vendor. I then brought the leftover chutney home and ate with my roti... its super yummy!

I lived with my aunt in Mumbai for a couple of years when I started work. There used to be a cart by the gate outside the colony which was taken care by a lady who was a widow. She made such excellent Vadas- the taste still lingers on my tongue. To relish hot Vadas which is made in front of you has its own bliss.
Now when I think of it, during shopping breaks I preferred to have Pav Bhaji , Chatpata mumbai special sandwiches or Cheese loaded Sandwiches :) wonder why?


One will find a thela of Vada Pav outside every train station - I am sure thats the hottest spot that is there for a great business! Tired commuters who are always in a hurry to reach somewhere take a quick break indulging in a flavorful Vada Pav which will keep them full till next pang of hunger :)
Mumbai and Vada Pav are inseparable!


Thanks to my aunt who happens to be a great cook and my goto chef :) Its her recipe that I am sharing here.

So without any further delay lets check the recipe:

We will need following: please dont lose interest looking at the ingredients, :) it just has few steps but can be done in fairly good amount of time.

Ingredients:

Dipping Batter
  • 1/2 cup besan / chickpea flour
  • 1 tbsp rice flour [for crispness]
  • big pinch turmeric powder 
  • 1 tsp chili pwd
  • salt to taste 
  • A pinch baking soda 
  • water
In a mixing bowl, add all the above ingredients except water.
give it a toss - let everything mix.
Add water slowly taking breaks while you whisk the batter together. Let there be no lumps and get medium consistency batter. I dont like it too thick. Now let the batter rest for 15 plus minutes atleast while you get other things lined up.

For Dry Red Chutney 
  • 4-5 cloves garlic fried in oil
  • 1 tbsp red chili powder [adjust as you like]
  • 1/2 cup peanuts slow roasted
  • 1/2 cup boondi [ either store bought or while you make vadas, try to do some boondi with besan batter and use that]
  • Salt to taste  
Grind coarsely all the above ingredients and your red dry chutney is ready!! Can be made before and kept. Also this can be used as a condiment and can reside happily in your kitchen pantry for other purposes :)

Red Dry Chutney



Vada Stuffing and Frying

  • 3 med size boiled and mashed potatoes 
  • 1 tbsp oil 
  • 1/2 tsp mustard seeds 
  • pinch asafoetida (hing)
  • 10 curry leaves 
  • 1 tbsp of green paste [For me this is the USP of any Vada: 1/2 inch ginger, 3-4 garlic, 2-3 green chili , 1 cup cilantro ground to paste]
  • 1 small onion finely chopped
  • 1/4 th tsp turmeric powder 
  • salt to taste 
  • 1/2 tsp lemon juice 
  • 1 tbsp chopped Coriander leaves for garnish 
  • oil for frying



Preparation:
  • Heat oil in a pan on a medium heat. 
  • Add mustard seeds, as it splutters- add asafoetida, curry leaves 
  • Add onion and saute for 2-3 minutes till translucent. And turmeric pwd, green paste. Stir for a minute.
  • Add salt, then boiled potatoes. Mix every everything nicely.
  • Add lemon juice, coriander leaves and mix well. Try not to add water, if need be add very little so that potatoes gets nicely mixed with the seasoning. Stuffing is ready. 
  • Let it cool a little.
  • Take small portion of stuffing and roll it in the shape of ball [makes around 8 balls] - as seen in the pic
For Frying





  • Heat the oil and always fry the Vadas on medium heat. 
  • Stir the dipping batter that has been resting well. 
  • Dip the potato ball (Vada) in the batter. Coat the batter from all sides hold it on top of the batter bowl till excess batter drops down then slowly slide it in the oil and fry it from all the sides until you see nice fried orange color on it probably couple of minutes on each sides. 
  • Using a slotted spoon take out the Vadas and place on paper towel to drain out excess oil

Serving:
Take a Pav, slice it in the center, slather dry red chutney, place your Vada and couple fried chillies with it. 

You may also like Misal Pav, Ragi Rotti, Pav Bhaji
Thank you for visiting my page. 
njoY cookinG! 

Ingredients you may shop for:

Missal Pav/Bread



Street food, it's the best way to experience a local culture by eating the everyday food that the common man eats and relishes. And it's usually always hot and fresh and has taste that hits the spot sending you to the ecstacy land, if you know what I mean :) Another important fact being it usually cost less avoiding making a hole in your wallet😀. Most of us try so hard to recreate that magic by cooking at home and fail miserably... I can imagine you nodding head with me:) We have our days, and it is a journey of trial and error to get the exact taste like that of a street vendor. 

My aunt is an expert (according to me) when it comes to making few chaat/street food dishes. This is her recipe and we love it at home. I did not have mix chiwda(farsan) for topping so just added plain sev on it. 

This particular Missal Pav is a famous Maharashtrian chaat food where it has a 2 part preparation. One is Matki(moth beans) usal (dry sabji) and other is thin spicy red gravy Kat (coconut based). Then you can garnish it with the toppings of your choice. It is accompanied with Pav or Bread. 
Dunk the pav in slurrpy kat with moth beans usal and toppings! You tend to soak the Kat using pav and finish eating very soon so they always provide you with extra kat in a katori on your plate.
It is very very yum dish!

Let us check out the recipe:


Ingredients:
For Matki Usal
2 cups boiled sprouted matki (moth beans)
2 tbsp oil
1 tsp mustard seeds
1/4th tsp asafoetida (hing)
1/2 tsp turmeric (haldi)
1/2 tsp chilli powder
1 tsp goda masala ( or garam masala)
salt to taste
For Kat (wet gravy)
<A>
8 peppercorns
6 cloves
1 tsp jeera
1 tsp coriander seeds
4-5 dry red chillies
1/2 tsp turmeric (haldi)
1/4 inch cinnamon stick
1/2 tsp sesame seeds
1/th tsp fennel seeds
1/4th cup grated coconut
2 tsp oil
<B>
4 big garlic pods
1/2 inch ginger
1 onion chopped
2 tomatoes chopped
2 tbsp oil
<C>
1 tsp chilli powder
1 tsp goda masala ( or garam masala)
salt as per taste
For Toppings:
1 onion finely chopped
1 cup cilantro chopped
1 cup sev (or mix dry farsan)
2 lemon cut in wedges


Preparation:
Mataki Usal:
  • In a pan heat some oil, add mustard seeds, after it splutters add all the ingredients under Mataki usal except matki (moth beans) and saute quickly. 
  • Now add the cooked* sprouted matki, salt and mix everything together. Cook for about 5 minutes and switch off the gas. 
  • Keep aside.
Kat (wet curry):
  • In a frying pan, heat oil and ingredients under <A> except coconut. 
  • Saute lightly till it starts leaving aroma for about a minute or 2. Add this to a blender. 
  • Now in the same pan, roast coconut and add it to the blender as well. Make a paste and keep aside.
  • In a cooking utensil, heat oil and add other ingredients under bullet <B> in the order of ginger, garlic, onions saute till brown and add tomatoes. 
  • Fry everything till it becomes one mushy mixture. Switch off the gas as oil starts leaving from the sides. 
  • Let this mixture cool. Add to the blender and make a paste.
  • In the same pan, add some oil, add <B> paste and bring to a quick boil. Add coconut paste <A> and cook for about 10 minutes. 
  • Now you can adjust the taste by adding more chilli powder and goda masala under bullet <C>. Adjust salt too. 
  • Add 3-4 cups of more water and bring to a boil. 
  • Simmer the Kat on low flame till you see oil floating on top! 
  • Now this is how you serve, take a soup bowl, add 3-4 tbsp mataki usal, then pour the kat generously over it, add chopped onions, squeeze lemon juice, add chiwda or sev on top and dunk your pav/bread in it and savor all the goodness! 
  • You can see in my plate I have kat more as I like it that way :)


njoY!! happY cookinG!!

notes*: How to cook sprouted matki (moth beans)-Soak 1 & 1/2 cups of moth beans in 5 cups of water overnight or for 6 hours. Drain all the water and keep in a warm spot for another 6 hours or so for it to generate sprouts. You can also tie it in a muslin cloth and leave overnight. Boil it in 3-4 cups of water for about 25 minutes or till done.

Health Benefits:
Moth Bean seeds are a good source of proteins and other essential minerals and vitamins.
It can make an excellent protein supplement to Vegetarian diet. Maximum benefits can be reaped when it is soaked and sprouted. The coconut base thin spicy curry has all the masala ingredients that provides adequate minerals and nutrients to our body. If we use the oil sparingly (if you are making this dish often) it will prove to be a more healthier dish.


Pav Bhaji (Street food of Mumbai)




Getting back to blogging after a short break, feels so good to be back in my comfort zone :)
It was Monday, Presidents day a long weekend in USA. Had a busy rest of the weekend having too much fun! Thought of lazying around while cleaning up the house and at sharp 11:08am had a craving to eat pav bhaji after my eyes wandered on the potato bag in the pantry :) Got lucky as I had all the ingredients in the fridge except pav (Indian bread). After begging for 5 minutes to my Pati-dev who thinks weekends are his right to be a couch potato, sent him off to the store to get the pav while I geared myself to make some YUMM-O street food.


This dish is a big hit at my house and relished amongst my friends. I got this recipe from a Juhu beach vendor in Mumbai on Youtube some years back. Can't go wrong, right? I have customized the recipe just a little bit as per my convenience. I was actually surprised to see couple of ingredients that went into it like kasoori methi and hing. Well, it only adds more great flavors to say the least.

Another huge USP of this dish, can add as many variety of vegetables you want and kids will not even know :) because potatoes overpowers the rest of the clan :)- So yes, Moms can go YAY!!










Pav Bhaji was invented as a midnight dish by street food vendors, made with all the leftover vegetables from the day, mashed up together, with loads of added spice, and butter. Bhaji is the Marathi word for a vegetable dish, and pav probably comes from the Portuguese word for bread.

All I can say is try it and see if you like it.

Ingredients:

For the Bhaji:
  • 2 big potatoes boiled, peeled and mashed lightly
  • 4-5 ripe tomatoes chopped ( if not sour enough, add extra tbsp of tomato paste)
  • 1 capsicum chopped
  • 10 flowerets of cauliflower (roughly chopped)
  • 1 small carrot chopped (optional)
  • 1/2 cup peas boiled
  • 1 1/2 tsp ginger garlic paste
  • 1 tsp Kashmiri chili pwd (to give more color than spiciness)
  • 2 tbsp butter
  • 1/4th tsp turmeric pwd
  • 1- 2 tbsp pav bhaji masala (everest or mtr)
  • handful chopped cilantro leaves
  • 1 tbsp fenugreek leaves
  • pinch asafetida 
  • 2 tbsp of oil
  • food color orange 1 pinch ( if you want that gorgeous color :))


To Fry the Pav:
  • Butter
  • Cilantro leaves
  • Prepared Pav Bhaji
Garnish Ingredients:
  • Chopped onion
  • Sev
  • Lemon pieces
  • Dallop of butter on it
6 Pav (store bought for now)
Minimum 2 Pav each person to relish all that goodness of buttery bhaji :)


Preparation:
  • In a non stick pan, heat oil, add capsicum, cauliflower, (carrots if using it) and quickly saute it for 2 to 3 minutes. 
  • Add ginger garlic paste and let it cook for little bit more till the raw smell goes away. Add asafetida, kasoori methi and cook for a minute.
  • Now add chopped tomatoes and saute it for couple of minutes. You can add 1 tbsp butter now and let it cook till you see some oil coming out from the corners. Stir in between.
  • Add masalas - turmeric pwd, chilli pwd and pav bhaji masala, salt mix everything together quickly. 
  • Add boiled potatoes and with a masher, start mashing everything together. Add water little by little till you get the consistency of thickness/thinness you want. It is always semi thick. Potatoes basically absorb water. 
  • Taste it and see if it needs adjustment, if your tomatoes are not sour enough, add lemon juice.
  • Add food color if you want.
  • Let it cook on sim flame for about 7-8 minutes. Keep stirring in between and add water as you like. Add another tbsp of butter :)
  • Garnish it with Cilantro and switch off the gas.

How to fry the Pav just before serving:
  • Cut the Pav in the centre and semi open it.
  • On a frying pan, add butter, as it sizzles add bhaji, cilantro and place the pav face down and cook for few sec. Drizzle some butter or oil on top and serve hot.


How to Serve Pav Bhaji:
Serve good amount of bhaji in a compartmented plate, chopped onion, cilantro and lemon slices on one end, you can add onions, sev and butter on top of the hot bhaji, and masala fresh pav on the other side.

Trust me, eating is much easier than writing how to serve Pav Bhaji :):) (joke)

If you are street food junkie, you may also like
Missal Pav,  Baked Potatoes Wedges,  Mumbai's special Masala Sandwich

njoY!! happY cookinG!!

Health Benefits:

Due to the increased interest in foods that are low-carb or low-glycemic index, the potato has unjustly earned a bad reputation. Potatoes consumed in simple roasted, grilled, boiled, steamed manner with little or no oil/butter is very healthy and nutritious for health.
It is loaded with calcium, phosphorus, zinc, magnesium, iron that helps in having strong bones.
It has vitamin B6 which supports heart health.
Choline is a very important and versatile nutrient in potatoes that helps with sleep, muscle movement, learning and memory.


Shahi Pulao (Vegetable Pulao)

Shahi Pulao or Vegetable Pulao is an exotic rice dish that combines spicy and aromatic vegetables served over rice. Rich with flavor, this is an extraordinary dish. You may also call this Biryani. This dish is made in two parts. First I prepare the rice with cumin seeds and cilantro. Then the vegetables are cooked separately with tomatoes, cashews, beans, green peas, cauliflower, and paneer. Top these vegetables over the rice and you have a mouth-watering dish!

Recipe will serve 4.

Ingredients: Hyderabadi Biryani (Vegetable Pulao) Recipe by Manjula

For rice

  • 1 cup rice preferred basmati rice available in Indian grocery stores
  • 2 tablespoons clarified butter or ghee
  • 1/2 teaspoon cumin seeds (jeera)
  • About 1 inch piece cinnamon stick (dal chini)
  • 1/2 teaspoon salt
  • About 1/4 cup cilantro finely chopped (hara dhania)
  • 2 cups water

For vegetables

  • About 3 cups mix vegetables I am using cauliflower cut into small floret, green beans cut into small pieces, bell pepper cut into cubes, and frozen green peas,
  • 1/2 cup paneer cut into about 1/2 inch cubes
  • 4 cups tomatoes chopped
  • 1 green chili cut into pieces
  • About 2 tablespoons ginger cut into small pieces
  • 3 tablespoons oil
  • 1 teaspoon cumin seeds (jeera)
  • 1/8 teaspoon asafetida (hing)
  • 2 tablespoons coriander powder (dhania)
  • 1/2 teaspoon turmeric
  • 1/2 teaspoon red chili powder
  • 1-1/2 teaspoon salt
  • 1 teaspoon sugar
  • 1/4 cup cashew powder
  • 1/4 cup cilantro chopped
  • 1/4 teaspoon garam masala

Method

Rice:

  1. Wash rice gently changing water several times until the water appears clear.
  2. For fluffier rice, the rice should be soaked for at least 15 minutes prior to cooking.
  3. Heat the oil in a saucepan. Oil is the right temperature when one cumin seed dropped into the oil cracks immediately.
  4. Add the cumin seeds. When they crack, add the cinnamon stick and stir for a few seconds. Add the rice, cilantro, and salt. Stir-fry one minute.
  5. Add the water and bring to a boil, turn the heat to low. Cover the pan, and Cook 15 minutes, or until the rice is tender and the water has evaporated. Turn off the heat and fluff the rice with a fork.

Vegetables

  1. Blend tomatoes, green chilies and ginger to make a puree. If you prefer mild take the seeds out of green chili before blending.
  2. Heat the oil in a saucepan. Over medium high heat oil should be moderately hot, add the cumin seeds, and asafetida, as seeds crack add tomato puree, coriander, turmeric, sugar and salt.
  3. Lower the heat to medium, stir the spice paste occasionally when it start thickening add cashew powder and cook until paste become the thick and start leaving the oil from side.
  4. Add all the vegetables and 1/4 cup of water, mix it well. Cover the pan and let it cook for about 5-6 minutes over medium heat stir few times in between. Add paneer mix and cover the pan, cook for another 3-4 minutes. Vegetables should be tender not mushy.
  5. Turn off the heat add garam masala and cilantro, stir and cover the pan for few minutes before serving.
  6. Serve the vegetable over hot rice.

Hyderbadi mirchi ka salan goes well with this Shahi Pulao
Hyderabadi Mirchi Ka Salan (Spicy Pepper Curry)

Hyderabadi Mirchi Ka Salan (Spicy Pepper Curry)

Originally posted 2015-09-01 23:02:51.

The post Shahi Pulao (Vegetable Pulao) appeared first on Manjula's Kitchen.

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