Bitcoin Treasury Firms Lose $62B After Strategy’s Bitcoin Sale
STRC•Bitcoin treasury companies’ combined market value tumbled by $62 billion to $72 billion from $134 billion at October peak, while Bitcoin plunged about 14% this week. Strategy’s first Bitcoin sale since 2022 intensifies debt stress risks for firms controlling over 5% of Bitcoin supply.
1. Market Value Decline
Publicly traded digital-asset treasury companies saw their combined fully diluted market capitalization fall from about $134 billion in early October to roughly $72 billion, reflecting a $62 billion drop as Bitcoin slid approximately 14% this week to near four-month lows.
2. Strategy’s Bitcoin Sale
Strategy executed its first Bitcoin sale since 2022, breaking the expectation that treasury firms would only accumulate, and signaling potential liquidity pressures that challenge the perpetual buy-and-hold model these companies were built upon.
3. Forced Selling Risks
Digital-asset treasuries and corporate Bitcoin holders now control over 5% of total supply, creating a risk that debt obligations will force asset liquidations, which could amplify price volatility if multiple firms sell simultaneously.
