🚨 Only bought 5,900 coins in three months: the appetite of the company treasury suddenly got smaller
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👀 One-sentence event: Glassnode data shows that over the past three months, listed companies together only added about 5,900 BTC, far below the same period last year; their average cost is around $80,500, while the current price is near $76,400—overall still at a loss.
📊 The comparison is painfully stark: in the same period last year, company treasuries added more than 100,000 coins; just in one month in July 2025 alone they bought 89,000. Now these 5,900 are less than 7% of that.
🔥 The contrast is this: Strategy (MSTR) alone absorbed most of it (a single purchase of 4,603 coins at the end of August). The other companies barely moved—the “company buys crypto” main storyline of the 2024–25 bull market is sputtering out.
💡 What’s truly worth watching isn’t how many these 5,900 coins are, but “who’s taking over”—the ETF is carrying the load, the company treasury is stepping back, and the demand structure has already changed.
⚠️ A bucket of cold water: the treasury’s crypto buying relies on low-interest financing and share-price premium. Once both tighten, the pace can only slow further.
One camp says the fuel for the bull market is gone; the other says this is an opportunity for retail investors and the ETF—where do you stand?
Click the avatar to watch the livestream + join the Jiujiu chat group to get daily strategies 🚀
#机构资金 #MSTR #Treasury
Group: 点击进入玖玖的粉丝群
👀 One-sentence event: Glassnode data shows that over the past three months, listed companies together only added about 5,900 BTC, far below the same period last year; their average cost is around $80,500, while the current price is near $76,400—overall still at a loss.
📊 The comparison is painfully stark: in the same period last year, company treasuries added more than 100,000 coins; just in one month in July 2025 alone they bought 89,000. Now these 5,900 are less than 7% of that.
🔥 The contrast is this: Strategy (MSTR) alone absorbed most of it (a single purchase of 4,603 coins at the end of August). The other companies barely moved—the “company buys crypto” main storyline of the 2024–25 bull market is sputtering out.
💡 What’s truly worth watching isn’t how many these 5,900 coins are, but “who’s taking over”—the ETF is carrying the load, the company treasury is stepping back, and the demand structure has already changed.
⚠️ A bucket of cold water: the treasury’s crypto buying relies on low-interest financing and share-price premium. Once both tighten, the pace can only slow further.
One camp says the fuel for the bull market is gone; the other says this is an opportunity for retail investors and the ETF—where do you stand?
Click the avatar to watch the livestream + join the Jiujiu chat group to get daily strategies 🚀
#机构资金 #MSTR #Treasury
