New observations in the institutional Bitcoin market show that almost all of the large purchases come from Strategy company. The transactions that took place last month reveal that a single, especially large-scale player is increasing its weight in the sector day by day.
The Dominant Role of Strategy in Institutional Bitcoin Purchases
According to BitcoinTreasuries.net’s January 2026 Institutional Adoption Report, 93 percent of new institutional Bitcoin purchases in the first month of the year belonged to this company. It was reported that the company purchased a total of 40,150 more BTC, increasing the amount of Bitcoin it held to 712,647 at the end of the month. This level of accumulation equates to approximately two-thirds of the total 1.13 million Bitcoins held by all publicly traded companies.
Strategy’s management team associates this asset accumulation with a long-term treasury policy. In their last financial report, they announced that they plan to increase the amount of Bitcoin per share by approximately 2.5 times by 2032. It was stated that in the company’s 14-year projection scenario, 492,000 satoshi per share is targeted.
Adding more cautious perspectives, the company management stated that they foresee a steady increase in the amount of Bitcoin per share in the coming years; They emphasized that this strategy will make Strategy both a major Bitcoin holder and a long-term treasury investment.
Trend towards Digital Loan Products is Increasing
In addition to acquisitions, companies are also turning to new financing instruments. Among the digital credit platforms followed by BitcoinTreasuries.net, Strategy’s products called STRC, STRD, STRF and STRK stand out. Other companies operating in this field include Strive, STRE and Metaplanet.
While Metaplanet’s MERCURY product stands out with a return of approximately 4.9 percent, interest rates reach 10 percent in some products of Strategy and Strive. This type of hybrid financing instruments of companies provide a new source of capital to the company by incorporating both dividend and debt features.
Frequently Purchasing Institutions and Miners’ Trends
The institutional Bitcoin ecosystem is being shaped not only by large acquisitions but also by companies regularly adding to their portfolios. According to the data in the report, one third of the 194 public companies holding Bitcoin purchase an average of more than 1 BTC per day.
It was reported that twenty companies accumulated more than 10 BTC per day, and that these were mainly companies focused on treasury management. Over the last five years, public companies have added an average of 357 BTC per day, while companies continuing this trend are reaching larger volumes than new entrants.
On the mining side, companies such as MARA, Riot, Hut 8 and CleanSpark own 11 percent of the Bitcoin assets of public companies in total. However, in January, miners became net sellers, resulting in a total decrease of 290.9 BTC.
Concentration in Market Dynamics and New Participants
Despite the fluctuations in the market, new corporate buyers have recently entered the sector. It has been reported that since October 2025, 21 new companies in South Korea, the USA, China, Japan and Canada have added approximately 880 BTC to their portfolios.
However, a much larger portion of institutional Bitcoin is again concentrated in the hands of leading companies like Strategy. Treasury-focused stocks lost 30-35 percent as the BTC price fell below $65,000 in early February. The total Bitcoin holdings of institutional, ETF, government and institutional investors exceeded 4.08 million BTC.
