📊 Corporate Bitcoin holdings may look strong on paper, but not every BTC is equally available to the market.

Companies like CleanSpark, PowerCompute and USBC are using options, collars and secured loans that can create future claims on their treasury BTC without immediate selling.

That means the headline number of corporate holdings doesn’t always tell the full story. There may be hidden conditional supply waiting behind the scenes.

The key question: how much corporate BTC is truly untouched and long-term held? 👀

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