Corporate Treasuries Show Weak Demand for Bitcoin
Publicly listed companies are showing little enthusiasm for Bitcoin ($BTC) as they add only about 5,900 $BTC to their treasuries over the past three months. This is a significant drop from last year's pace when corporate treasuries added more than 100,000 $BTC in just one month.
Nasdaq-listed Strategy MSTR accounted for most of this buying, including a late-August purchase of 4,603 $BTC. The value of these coins is around $451 million at current prices, but it's a small sum compared to the same period last year when Bitcoin was trading above $100,000.
Cryptocurrency analytics firm Glassnode notes that corporate treasuries were a major buyer in 2025, but have since stepped back. Their average entry price is around $80.5K, which is about 6% above the current spot price, making them underwater at current prices.