BTC Treasury Holdings Reach 840,000 BTC Amid Cautious Buying Activity
Key Market Updates
During the recent BTC Asia conference in Hong Kong, on-chain data revealed that Bitcoin treasury companies hold over 840,000 BTC. However, their purchasing behavior has become more cautious:
- BTC treasury holdings led by Strategy with 637,000 BTC.
- Average transaction sizes have dropped; Strategy bought 1,200 BTC per transaction in August, down 86% from early 2025 highs.
- Transaction activity remains high with 53 deals in June and 46 in August, but each deal involves significantly less bitcoin.
- Strategy acquired only 3,700 BTC in August compared to 134,000 BTC at its peak last year.
- Other treasury firms' purchases fell to 14,800 BTC from highs of 66,000 BTC.
This shift indicates a potential liquidity constraint or lower conviction among these firms, which could impact future price sustainability. Notably, institutions were absorbing over 3,100 BTC daily against just 450 mined as of late August, reflecting a significant demand-supply imbalance.
Despite this cautious approach, growth in the BTC Treasury sector continues, with 28 new treasury companies formed in July and August, adding over 140,000 BTC. Taiwan-based Sora Ventures launched a $1 billion fund to support regional treasury firms, with an initial commitment of $200 million.
Market Movement
BTC: Bitcoin remains stable around $110K–$113K, buoyed by expectations of Federal Reserve rate cuts and increased institutional inflows.
ETH: Ethereum is trading near $4,300, experiencing short-term weakness but maintaining a positive long-term outlook with potential targets of $4,600–$5,000.
Gold: Gold prices are reaching record levels driven by weak U.S. jobs data and economic uncertainty.
Nikkei 225: Japan’s Nikkei 225 rose 1.5% following Prime Minister Shigeru Ishiba's resignation.
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- Crypto VCs show increasing interest in prediction markets.