Publicly traded companies added approximately 5,900 BTC during the past three months, a major slowdown from the corporate accumulation recorded one year earlier.
Strategy accounted for most of the recent buying, including an August acquisition of 4,603 BTC, based on Glassnode data reviewed by CoinDesk.
Companies added more than 100,000 BTC during the comparable earlier period, including approximately 89,000 BTC in July 2025 alone. The recent total represents less than 7% of that one-month figure.
Glassnode estimates the corporate-treasury cost basis at approximately $80,500. Friday’s rally above $81,000 has moved the aggregate position slightly into profit after the group spent much of the week below its reported entry level.
Treasury-company totals must be interpreted carefully. A company can add Bitcoin while diluting shareholders, issuing expensive preferred stock or increasing leverage.
The slowdown means the market cannot assume that public companies will automatically absorb new supply during every decline.
TOKEN RECON ASSESSMENT
Corporate Bitcoin accumulation remains active but highly concentrated and much weaker than last year.
The breakout above $80,500 may improve sentiment among treasury companies, but price alone does not guarantee renewed purchases.
Watch new regulatory filings, Bitcoin per diluted share, debt and preferred-financing costs, and whether companies other than Strategy resume meaningful accumulation.
Sources
CoinDesk. Corporate treasuries buy only 5,900 BTC in three months
