To understand what is really happening in Bitcoin [BTC] right now we need to look beyond the scary headlines.
Yes, some listed companies recently sold up to 10,402 BTC. However, that’s just one side of the story. On the other hand, a smaller group of high-confidence companies bought much more in the same thirty-day period.
Simply put: more Bitcoin is being bought than sold.
Companies adding Bitcoin to their reserves
According to CoinGecko’s factsStrategy (formerly MicroStrategy) is leading the way by adding 27,234 BTC to its reserves in the last 30 days. That figure was more than double the total amount sold by all other public companies combined.
Source: CoinGecko/X
For its part, the company believes that Bitcoin will retain value in the long term, even as prices go up and down in the short term.
Strive Asset Management & DDC Enterprise Limited followed Strategy’s lead, with Strive adding 5,504 BTC and DDC Enterprise Limited adding 705 BTC.
What’s interesting here is that DDC is not a technology company. And yet it still adds Bitcoin to its balance sheet. Companies like American Bitcoin, Canaan, and Parataxis Capiral (via its Korean branch) rounded out the list at the time of writing.
The timing here is especially interesting because all that aggressive buying came from the fact that the overall market was looking pretty weak.
Bitcoin’s price action and other statistics
At the time of writing, Bitcoin was next trading at around $67,900 traps by about 1.25% on the daily charts and by about 26% on the monthly charts.
Trading activity also appeared to slow in the futures and options markets. This implied that many short-term traders would take a step back and avoid risk.
Source: Coinglass
At the same time, Bitcoin’s market dominance is increasing rose up to 59.11%. Additional, the Fear and Greed Index had a value of 8 – A sign of ‘extreme fear’.
Even though these companies buy more Bitcoin, their stock prices collapse.
Not just Bitcoin…
While Bitcoin is still the main focus for most companies, Ethereum is now seeing strong interest as well. BitMine is a clear example of this trend.
Although the broader market has fallen, the company has amassed approximately 4.33 million ETH – approximately 3.6% of all Ethereum in circulation. This makes it the largest publicly known company holder of Ethereum in the world. In the last 30 days alone, BitMine has added over 180,000 ETH.
Final thoughts
- The growing participation of non-tech companies such as DDC Enterprise Limited shows that Bitcoin adoption is spreading across sectors.
- Falling Bitcoin prices and extreme market fear have created buying opportunities for institutions with a long-term view.