Corporate Bitcoin Bets Turn Sour as Firms Pivot to AI Amid Price Plunge

The corporate experiment with Bitcoin as a treasury reserve has ended in disaster for many public companies. Firms like Strategy, formerly known as MicroStrategy, and Satsuma Technology are selling off their massive BTC holdings to stay afloat. This move is not just about repaying debts or boosting stock prices, it's also a bid to pivot towards AI infrastructure.

As the price of Bitcoin fell by around 50% from its peak in October 2025, companies like Strategy and Satsuma realized that their reliance on BTC was a major risk. With over 840,000 BTC still held by Strategy, the market is now facing a constant overhang. This could mean that the supposed floor under Bitcoin's price from corporate accumulation doesn't exist.

The delisting of Satsuma from the London Stock Exchange and the failed merger proposal of Bitcoin Standard Treasury Company (BSTR) suggest that for weaker players, the endgame is already here. For Strategy, the question remains whether its massive BTC holdings will be a war chest or an anchor, all depending on where Bitcoin goes from here.