Corporate Bitcoin buying has sharply consolidated around a single firm, raising concerns about growing concentration risk in the digital asset treasury model. Recent data show that Strategy purchased approximately 45,000 BTC over the past 30 days, marking its fastest accumulation pace since April 2025.
At the same time, all other treasury companies combined acquired only about 1,000 BTC during the same period, representing a 99% decline from the peak of 69,000 BTC recorded in August last year. Their share of total purchases has dropped dramatically to about 2%, compared with 95% during the height of corporate treasury demand.
Bitcoin Treasury Holdings Concentration Risk
Strategy now controls roughly 76% of all Bitcoin held by treasury companies. This growing dominance has raised concerns that corporate Bitcoin ownership, once promoted as a diversified institutional trend, is becoming concentrated within a single balance sheet.
The decline in Bitcoin prices from above $110,000 in mid-2025 to under $70,000 has left several treasury buyers holding positions at significantly higher average costs. Companies that accumulated near market highs carried average costs above $107,000, placing them deeply underwater at current price levels.
Market Pressure Slows Corporate Bitcoin Accumulation
Despite market pressure, Strategy has continued to accumulate Bitcoin while strengthening its financial position. The company disclosed a $1.44 billion cash reserve intended to cover up to 24 months of dividend and interest obligations.
However, the slowdown among other treasury firms has created a far more concentrated demand structure, narrowing what was once expected to be a broad institutional buying trend into a single dominant participant.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.