In the past month, Strategy has acquired around 45,000 bitcoins, marking its most rapid accumulation rate in nearly a year. In stark contrast, other companies within the corporate bitcoin treasury sector collectively purchased fewer than 1,000 $BTC, as highlighted in a recent report by Cryptoquant.
Cryptoquant Declares End of Bitcoin Treasury Summer for Non-Strategy Firms
The findings illustrate a significant divide in the corporate bitcoin landscape. Strategy’s recent buying spree reflects its highest volume of purchases over a 30-day period since April 2025. Meanwhile, virtually all other publicly traded firms holding bitcoin have drastically reduced their acquisitions.
Researchers at Cryptoquant meticulously documented this decline. Companies outside of Strategy combined to purchase only 1,000 $BTC during the last month—a staggering drop of 99% from their peak acquisition level of 69,000 $BTC in August 2025. Their share of total corporate bitcoin purchases has plummeted to just 2%, down from an impressive 95% recorded in October 2024.
The breadth of participation has also contracted significantly. Over the past month, non-Strategy companies executed only thirteen separate bitcoin transactions compared to fifty-four during what Cryptoquant referred to as “Bitcoin Treasury Summer” back in August 2025—a decrease of approximately seventy-six percent.
Conversely, Strategy’s purchasing rhythm remains consistent and robust. The company continues to execute four or five transactions every thirty days despite its competitors pulling back on their activities.
This disparity is reflected further by an expanding gap in holdings between Strategy and other firms. This year alone, Strategy has added an impressive total of ninety thousand $BTC. In comparison, all other treasury companies together managed only a net addition of four thousand $BTC. Their collective share dropped from twenty-six percent last November to twenty-four percent today.
According to Cryptoquant data, Strategy now commands about seventy-six percent of all bitcoins held by publicly listed treasury firms with total holdings amounting to seven hundred sixty-two thousand ninety-nine $BTC.
The next closest competitors are far behind; Twenty One Capital—identified by ticker XXI—holds forty-three thousand five hundred fourteen $BTC, ranking second globally ahead of MARA Holdings which recently divested fifteen thousand one hundred thirty-three $BTC ‘s value being used for repaying $957 million worth zero-coupon convertible notes; MARA currently retains thirty-eight thousand six hundred eighty-nine dollars worth BTC (value equivalent).
Metaplanet Inc., based out Japan trading under MPJPY holds thirty-five thousands one-hundred two Bitcoins putting them fourth place while Bitcoin Standard Treasury Company rounds up fifth position with holdings totaling thirty-thousand twenty-one Bitcoins according Bitcointreasuries’ latest figures.
CryptoQuant emphasizes that XXI along with Metaplanet account merely for four point three and three point five percentages respectively concerning overall treasury-company BTC reserves while remaining entities split amongst diminishing shares available.
This trend indicates consolidation within Bitcoin’s treasury sector centered around one predominant buyer – namely: strategy which continues scaling up operations whereas others who previously followed suit seem hesitant presently.
The underlying reasons behind this shift could stem either from balance sheet limitations capital reallocation strategies or general wariness regarding current pricing trends but such specifics remain unclear based solely upon crypto quant analysis revealing straightforward metrics: One entity is actively acquiring assets whilst others appear content waiting it out.
FAQ 🔎
What is the current amount held by strategy? Currently they possess seven hundred sixty-two thousands ninety-nine BTC representing roughly seventy-six percentage points among publically listed treasuries.
Why did MARA Holdings fall down rankings? They liquidated fifteen-thousand-one-hundred-thirty-three BTC aimed towards retiring debts totaling nine-hundred-fifty-seven-million zero-coupon convertible notes thus reducing overall reserves downwards toward Thirty-eight Thousand Six Hundred Eighty-Nine dollars worth.
How much does Twenty-One Capital hold? They maintain ownership over forty-three thousands five hundreds fourteen indicating second largest publically traded entity globally per bitcointreasuries’ records.
Are there still active buyers beyond strategy’s reach? Corporate acquisitions outside strategys influence have decreased dramatically registering at mere one-thousand accumulated throughout preceding month showcasing staggering decline nearing Ninety Nine Percent compared against peaks observed earlier noted back into August Twenty-Five Year timeframe.