Corporate treasuries bought just 5,900 bitcoin in 3 months. Other demand signals look weak, too.
Publicly listed companies have significantly slowed their bitcoin acquisitions, purchasing only 5,900 BTC over the last three months compared to much higher volumes a year ago. Analysts note that corporate treasuries are currently underwater on their investments, which may be acting as a psychological ceiling for the cryptocurrency's price.
Why it matters
Corporate demand is a key indicator of institutional confidence in bitcoin; a slowdown suggests that the 2024-25 bull market may be losing a primary driver of momentum.
Publicly listed companies are showing little appetite for bitcoin BTC $77,566.38 , suggesting that a key source of demand behind the 2024–25 bull market remains weak as the cryptocurrency attempts a sustained rebound.
Those firms have added only about 5,900 BTC over the past three months, according to Glassnode, a fraction of last year’s pace. Nasdaq-listed Strategy MSTR $ 132.26 · Market Closed accounted for most of that buying, including a late-August purchase of 4,603 BTC.
At a spot price near $76,400, those 5,900 coins are worth roughly $451 million. That is not a trivial sum, but it looks small next to the same period a year earlier, when bitcoin was still trading above $100,000.
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