There has been a significant change in corporate Bitcoin purchases recently. Strategy company, led by Michael Saylor, a major player in the digital asset market, has purchased approximately 45,000 Bitcoins in the last 30 days. The company last showed this acquisition pace in April 2025. The strategy stands out as the company that holds the most Bitcoin among organizations with publicly traded balance sheets. Latest data reveals that all companies except Strategy are limited to purchasing around 1,000 Bitcoins in total.
Serious contraction in corporate Bitcoin demand
The course of institutional demand in the Bitcoin market, especially in the last year, is noteworthy. While companies collectively purchased 69,000 Bitcoins in August last year, this rate has decreased significantly today, falling by almost 99 percent. Their share in total purchases has decreased from 95 percent to 2 percent.
The strategy firm now holds approximately 76 percent of the total Bitcoin held on balance sheets. Galaxy Digital had warned about this situation in the report it published last year. The report emphasized that the values of company shares traded with Bitcoin balance sheet depend on the market price and short-term mobility of Bitcoin.
The decrease in the premium difference may cause a squeeze on share values, and it also turns the issuance of new shares into a negative situation for investors. Developments in recent months show that this scenario is happening in the markets.
Market values and financial strategies of companies
While companies were buying during the DATCO period last summer and fall, Bitcoin was above the $110,000 level. However, after the sharp decline in October, the cryptocurrency fell below $ 70,000. According to December 2025 data, the average costs of companies such as Metaplanet and Nakamoto Holdings remained above the $ 107,000 level and it is observed that they are at a loss at the current price.
The strategy company announced that it kept a cash reserve of $1.44 billion in December to strengthen its balance sheet during this period. With this reserve, it aims to secure dividend and interest payments for the next 24 months.
This protectionist approach of the strategy company did not lead to a slowdown in its purchasing policy. Latest data shows that corporate acquisitions are taking shape under the leadership of Strategy and that other companies are not following this momentum.
As a result, the market offers a demand landscape concentrated on a single company, instead of the expected widespread corporate buyer profile. At the Bitcoin Asia event held in Hong Kong last summer, companies that held Bitcoin on their balance sheets were introduced as a new class of institutional buyers that could absorb the market’s supply. However, in the current table, the exact opposite of this claim is taking place.
It is stated that as of today, this vision is limited to the balance sheet of only one company in the market.
