As the bear market stretches out, institutions that aggressively bought bitcoin (BTC) while the bulls dominated have gone quiet, except one: Michael Saylor’s business intelligence firm, Strategy. A report from CryptoQuant says Strategy is now the sole driver of Bitcoin treasury demand, leading to a “one buyer market.” While the other companies are facing a…
Key takeaways
Quick scan — what you need to know:
- As the bear market stretches out, institutions that aggressively bought bitcoin (BTC) while the bulls dominated have gone quiet, except one: Michael Saylor’s business intelligence firm, Strategy.
- A report from CryptoQuant says Strategy is now the sole driver of Bitcoin treasury demand, leading to a “one buyer market.” While the other companies are facing a period of inactivity, Strategy has…
- Strategy Drives Bitcoin Treasury Demand According to CryptoQuant, Strategy has acquired approximately 45,000 BTC over the last 30 days.
- The acquisitions are the highest 30-day purchase the company has seen since April 2025, indicating that Strategy’s accumulation is growing at the fastest pace in almost a year.
Background
What led here, in plain terms:
- Despite Strategy’s consistency, BTC purchases from other treasury companies have remained low, if not non-existent.
- This cohort has bought a total of 1,000 BTC in the last 30 days, a 99% plunge from the high of 69,000 BTC in August 2025.
- Their share of acquisitions has also fallen from 95% in October last year to 2% currently.
- Their share of total holdings has declined from 26% in November 2025 to 24% today.
Why it matters
Why readers and decision-makers should care:
- While other companies fail to sustain demand, Strategy intends to keep buying and has unveiled new stock offerings to fuel additional purchases.
- This industry concentration reinforces the lack of diversified demand and raises concerns about the very centralization issues Bitcoin aims to combat.
- The post Bitcoin Treasury Companies Have Gone Quiet – Except One appeared first on CryptoPotato.