Corporate Bitcoin Treasury Participation Plummets as Strategy Dominates

Cryptocurrency markets have witnessed a significant shift in institutional participation in recent months. Data from CryptoQuant reveals that corporate Bitcoin treasury participation has declined drastically since its peak in August 2025, when companies were actively buying and holding Bitcoin to remove supply from the market and create a floor under the price.

According to CryptoQuant's data, Strategy is the only company still actively building its Bitcoin holdings. In the last 30 days, Strategy bought approximately 45,000 BTC, while every other treasury company in existence combined bought around 1,000 BTC. This represents a 99% collapse in participation from companies other than Strategy.

The dominance of Strategy's buying activity is evident in the data, with its share of total 30-day purchases reaching an extraordinary level. In contrast, other companies' share has fallen to just 2%, down from 95% at the peak of the corporate buying wave.