Corporate Buying of Bitcoin Picked Up as Exchange Balances Plummet

Corporate buying of Bitcoin (BTC) is gaining traction as Strategy and Strive, two companies that have shown interest in accumulating BTC, see their stock prices climb. Michael Saylor's 'Orange signal' on X indicates a possible purchase, while Matt Cole from Strive hints at buying more BTC.

This matters because higher stock prices give these companies more room to raise capital and scale their Bitcoin treasuries. According to CoinGlass, nearly 40,000 BTC have left exchanges this week alone, taking total exchange holdings to 2.46 million BTC, the lowest level since mid-May. This tightening of available supply could be a strong setup for a Q4 move.

The $BTC/Gold ratio has seen a clear shift in relative momentum, up over 13% so far this month and extending last month's 15% rally to around 37%. This rotation could become an important backdrop as macro volatility builds into Q4. Companies usually buy BTC with a long-term perspective, and rising stock prices can provide more space for them to raise capital and expand their holdings.