Corporate Treasury Demand for Bitcoin: A Shifting Landscape

The recent drop in Bitcoin's price below $70,000 has sent shockwaves through the market, raising questions about the demand from corporate treasuries.

According to data from Bitwise, public companies have been net buyers of BTC in Q1 2026, adding over 50,000 BTC and bringing their estimated holdings to around 1.15 million BTC, or about 5.5% of circulating supply.

However, some companies are selling due to funding pressures, with some crypto-treasury firms tapping high-yield 'digital credit' instruments like Stretch preferreds, which have attracted over $10.5 billion since launch.

The market is interpreting these mixed signals as a sign that corporate treasury demand is becoming more selective and price-sensitive, with treasurers prioritizing funding needs and liquidity over new purchases.