Corporate Bitcoin Treasuries Fall to 60% as BTC Buys Slow

Published: 2025-11-13 01:44:28 |

In October, corporate Bitcoin treasuries saw their share of total corporate crypto assets fall to 60% from 75% in April as major investors slowed purchases. These corporate Bitcoin treasuries remain led by MicroStrategy, which holds 640,808 BTC, yet corporate accumulation dipped to just 14,447 BTC—the smallest monthly increase of 2025. Metaplanet led new buys, adding 5,268 BTC (total 30,823 BTC), while Coinbase added 2,772 BTC to reach 14,548 BTC. The global tally of corporate Bitcoin holders rose to 353 entities, with the US leading at 123, followed by Canada, the UK and Japan. October also saw at least five BTC treasuries and four altcoin treasuries launch share buybacks. Altcoin treasuries gained ground as Ethereum’s share jumped from 2.5% to 15%, supported by Bitmine’s 3.5 million ETH holdings (~3% of supply) and Sharplink Gaming’s planned $200 million ETH deployment on Consensys’ Linea network; Solana remains at 2–3%. Fidelity Digital Assets projects that illiquid Bitcoin supply could reach 42% by 2032. This uptick in institutional accumulation across BTC and PoS altcoins is drawing down liquid supply, highlighting sustained demand and potential market impact.

Bullish

The slowdown in monthly BTC purchases by major corporate treasuries may introduce near-term moderation in demand, but the overarching trend of sustained institutional accumulation is bullish. Corporate operators expanded the number of Bitcoin holders to 353 and maintained heavy positions—MicroStrategy with 640,808 BTC, Metaplanet and Coinbase among active buyers. Fidelity’s projection that 42% of circulating BTC could become illiquid by 2032 further highlights long-term supply constraints. Parallel growth in altcoin treasuries, notably Ethereum’s rise to 15% share and large staking deployments, underscores growing demand across PoS networks. Reduced liquid supply combined with persistent institutional commitment points to supportive price pressure over the medium to long term, outweighing temporary pauses in buying.