Corporate Bitcoin Buying Slows in August as Price Pulls Back
Bitcoin’s rally cooled in August, with corporate accumulation slowing amid the market’s price pullback.
Treasury entities purchased 47,718 BTC last month, worth $5.2 billion—a steep drop from over 100,000 BTC in July, according to the latest Bitcoin Treasuries Adoption Report. Total holdings across public companies, private firms, governments, and ETFs reached 3.68 million BTC, valued at $400 billion at month-end. The 1.2% monthly increase lagged July’s 4.6% growth.
The slower pace of corporate buying may help explain why Bitcoin’s mid-August high near $123,000 was short-lived, as the price slid over 11% to below $109,000 by month-end.
Despite the slowdown, public company holdings passed a major milestone, surpassing 1 million BTC for the first time—doubling since late 2024. Notable purchases included healthcare firm KindlyMD’s 5,744 BTC ($679 million) and Japan’s Metaplanet adding 1,859 BTC across four transactions.
Crypto exchange Bullish (BLSH) also joined the treasury rankings after its August IPO, revealing it has held 24,000 BTC since March, valued at $2.6 billion. CEO Tom Farley said the move is part of an ongoing institutional wave, noting, “It feels like institutional investors think this could be the moment.”
Overall, the aggregate value of tracked corporate treasuries fell from $428 billion in July to $400 billion in August, reflecting Bitcoin’s retreat to $108,695.
