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Companies Are Buying Bitcoin at Three Times the Pace of New Supply

Corporate treasuries now hold about 1.11 million BTC after a six-month build led by Strategy.

Overview

  • Public and private firms added about 260,000 BTC in six months versus roughly 82,000 BTC mined, according to Glassnode.
  • Strategy holds 687,410 BTC—about 60% of corporate balances—and bought 13,627 BTC between Jan. 5 and 11, its biggest add since July 2025.
  • Corporate treasuries climbed from roughly 854,000 BTC to about 1.11 million BTC, equal to around 43,000 BTC per month and roughly $25 billion at current prices.
  • Structured entities now control about 4.06 million BTC, with ETFs and funds at roughly 1.49 million BTC and public companies above 1.1 million BTC.
  • US spot Bitcoin ETFs drew nearly $22 billion of net inflows in 2025, while early 2026 flows were mixed with just over $500 million net in, per industry data and Bitwise CIO Matt Hougan.