Smaller Bitcoin treasury firms added 602.6 BTC worth about $46 million last week, even as the largest corporate holders appeared to pause their acquisitions.
The purchases included a 381.6 Bitcoin (BTC) acquisition by asset manager and Bitcoin treasury company Strive, 200 BTC bought by global consumer food brand DDC Enterprise Limited, 19 BTC acquired by UK-based web design company The Smarter Web Company (SWC), and 2 BTC bought by AI data center company Hyperscale Data.
The buying suggests corporate Bitcoin demand has not disappeared during the latest drawdown, but has shifted toward smaller treasury firms while market leader Strategy paused its usual weekly accumulation.
The purchases came as spot Bitcoin exchange-traded funds (ETFs) logged $1.54 billion in combined net outflows in the six trading days leading up to Friday, Farside Investors data shows.
However, crypto sentiment analysis platform Santiment called the mounting outflows a “counter-indicator,” arguing that ETFs disproportionately reflect retail investor sentiment, not smart money positioning, Cointelegraph reported on Saturday.
Strive FORM 8-K filed with the US Securities and Exchange Commission. Source: SEC.gov
Bitcoin treasuries bought the BTC dip below $80,000
The Bitcoin treasury companies made their acquisitions shortly after Bitcoin fell below the $80,000 level.
Strive made its latest investment at an average purchasing price of $79,348 per Bitcoin, while DDC bought at an average purchasing price of $79,496 per BTC and SWC at an average purchasing price of $77,687 per BTC.
Hyperscale bought the BTC in the open market and did not disclose an average purchasing price, though it acquired on Sunday, when Bitcoin’s price closed the day at $76,981.
The average purchasing price of Bitcoin treasury firms is an important metric that reveals the unrealized gains or losses on the current BTC position and is often used to gauge a company’s long-term conviction in the underlying asset.
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The development comes a week after Strategy announced a massive acquisition of 24,869 BTC acquired for $2.01 billion between May 11 and 17, at an average purchasing price of $80,985 per BTC. The $2 billion investment marked Strategy’s third-largest investment of 2026.
Top Bitcoin treasury companies by holdings. Source: Bitcointreasuries.net
There are currently about 198 public Bitcoin treasury companies holding 1.24 million Bitcoin, representing about 5.9% of the total supply, data from Bitcointreasuries shows.
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