Corporate Bitcoin Bets Go Bust as Firms Pivot to AI Amid Market Downturn
Public companies that invested heavily in Bitcoin are now selling off their holdings and pivoting to AI infrastructure, but it's not helping their stock prices. The 'great corporate Bitcoin experiment' is unwinding as firms face a painful lesson about concentration risk.
The price of Bitcoin has dropped around 50% from its peak of $126,000 in October 2025, and companies like Strategy (formerly MicroStrategy) are selling off their BTC to try and stay afloat. Strategy still holds over 840,000 BTC, making it the largest corporate holder.
Other firms are in worse shape. Satsuma Technology has authorized the full liquidation of its 668 BTC, while Sequans Communications sold 1,025 BTC and almost 80% of its remaining holdings to repay convertible debt. MARA Holdings and Bitdeer have also been selling Bitcoin to pay off debts and repurchase shares, redirecting resources towards AI data centers.
The failed mergers and leadership chaos at companies like Twenty One Capital and Bitcoin Standard Treasury Company (BSTR) only add to the uncertainty. The market is viewing these pivots as desperation moves rather than strategic opportunities, despite the potential for companies to convert their existing infrastructure into AI workloads.