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Bitcoin VC veterans raise $40 million to buy and hold small firms, converting profits to Bitcoin. Anchor investor Ricardo Salinas backs the plan; public
A group of Bitcoin‑focused venture veterans announced the formation of Orange Juice, a $40 million permanent‑capital vehicle that will acquire cash‑generating small and mid‑size businesses, improve them and hold them indefinitely while converting a portion of earnings into Bitcoin [1]. The move comes as traditional Bitcoin treasury firms have seen their stock prices plunge nearly 80 % over the past year, highlighting a shift toward operational cash flow rather than pure asset holding.
| At a glance | |
|---|---|
| Capital raised | $40 million |
| Anchor investor | Ricardo Salinas (Mexican billionaire) |
| Founders | Jeff Booth, Lyn Alden, Nico Lechuga, Andi Pitt, Adrian Steckel, Ruben Zweiban |
| Strategy | Acquire small‑mid businesses, retain earnings, convert part to Bitcoin |
| Future plan | Pursue a public listing |
Orange Juice will target “small and mid‑sized businesses at low prices,” aiming to improve operations and retain ownership rather than resell the assets, a contrast to typical private‑equity cycles [1]. Retained earnings from these businesses will be partially converted into Bitcoin, creating a diversified cash‑flow base that feeds a growing Bitcoin treasury. Alden notes that existing pure‑play Bitcoin holding companies often lack substantive cash‑flowing operations, a gap Orange Juice intends to fill [1].
The launch arrives amid a broader downturn for Bitcoin‑holding corporations; Strategy, the largest public Bitcoin treasury, has seen its Nasdaq‑listed shares fall almost 80 % over the last year [1]. Over 360 digital‑asset treasuries now exist, but many have been forced to liquidate holdings after the crypto price slump [1]. Anchor investor Ricardo Salinas, who recently increased his Bitcoin allocation from 10 % to 70 % of his portfolio, provides both capital and credibility to the venture [1].
Orange Juice plans to keep the acquired businesses indefinitely, avoiding the pressure to exit within typical fund cycles. The firm also intends to pursue a public listing, positioning itself as a long‑term vehicle for Bitcoin‑standard businesses [1].
The $40 million launch signals a new hybrid approach that blends traditional cash‑flow businesses with Bitcoin as a treasury asset, testing whether operational earnings can sustain Bitcoin exposure better than pure‑play holding companies in a volatile market.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 4 outlets · Jul 17, 2026 · How we report
As of late August 2026, the market capitalization of Bitcoin is approximately $1.55 trillion, based on a circulating supply of 19.95 million coins.
Bitcoin experienced a price increase due to a short squeeze that liquidated over $3.3 billion in bearish bets, alongside institutional demand through spot ETFs and market reactions to U.S. Treasury bond buyback announcements.
Bitcoin has held more value than Ethereum and XRP in 2026, falling 14% from its January opening price compared to a 22% decline for Ethereum and a 25% decline for XRP.
Some investors view Bitcoin as a hedge against dollar debasement because its monetary policy was set in stone at its 2009 launch, unlike fiat currencies that can be influenced by government fiscal policy.