Strategy Buys 99.2% of Corporate Bitcoin Last Week
While most corporate treasurers remained inactive, Strategy deployed ₱2.25 billion ($39 million) in Bitcoin purchases last week. Three micro-cap companies added just $305,000 combined during the same period, with two purchases falling under $20,000 each.
Key Takeaway
Strategy's 99.2% market share shows corporate Bitcoin adoption has stalled into a one-company game.
Strategy accounted for 99.2% of all Bitcoin treasury buying last week, deploying ₱2.25 billion ($39 million) while the rest of the corporate world sat on the sidelines.
The company now holds 717,722 coins worth roughly ₱2.6 trillion ($45 billion), pushing total corporate Bitcoin holdings to 1.1 million across 193 public companies tracked by BitcoinTreasuries.net.
The concentration marks a sharp shift from late January, when five treasuries spanning South Korea, Singapore, the United Kingdom, and the United States deployed 1,677 Bitcoin in a single week. Those buyers included companies from Bitcoin mining and food services sectors that jumped in when prices crashed to $60,000 in early February.
Bitcoin miners contributed zero to treasury adoption last week, a dramatic departure from their typical weekly contribution of 200 to 400 coins through operational production. Bitdeer effectively sold its entire treasury during the period.
Strategy CEO Michael Saylor has positioned the company as the world's first Bitcoin Treasury Company after rebranding from MicroStrategy. The company has raised ₱473.5 billion ($8.2 billion) through convertible debt offerings at ultra-low rates between 0 and 0.75% to fund its Bitcoin accumulation strategy, which began in August 2020 with an initial purchase of 21,454 coins for ₱14.44 billion ($250 million).
Strategy now carries $6.5 billion in unrealised losses on its Bitcoin position, but Saylor has described Bitcoin as a "cyber-economy" based on truth and thermodynamics where fixed supply drives value creation rather than inflation. At least 78 publicly traded companies including Tesla and Square have adopted similar Bitcoin treasury strategies, though none match Strategy's scale or concentration in the market since the company began accumulating in August 2020.
This article was written based on reporting from Dlnews.
