1,287,144 BTC on corporate balance sheets
🔸 179 listed companies
🔸 30 countries
🔸 one firm holds 65.7% of it
that last line is the post. as of September 5, Strategy owns two thirds of the entire corporate treasury story, and everyone else splits a third between them
so when the headline says institutional adoption, the honest version is one institution and a long tail that doesn't move a candle
the concentration only costs something on the day that one balance sheet needs cash for a reason unrelated to $BTC . whether that day comes, i don't know
a hundred and seventy nine buyers sounds like a base. one buyer at 65.7% is a position
lessons:
- read who holds the concentration, not the headline count
- check the top holder before you call anything a floor
i'm not in this one either way, which makes it easier to say out loud)
🔸 179 listed companies
🔸 30 countries
🔸 one firm holds 65.7% of it
that last line is the post. as of September 5, Strategy owns two thirds of the entire corporate treasury story, and everyone else splits a third between them
so when the headline says institutional adoption, the honest version is one institution and a long tail that doesn't move a candle
the concentration only costs something on the day that one balance sheet needs cash for a reason unrelated to $BTC . whether that day comes, i don't know
a hundred and seventy nine buyers sounds like a base. one buyer at 65.7% is a position
lessons:
- read who holds the concentration, not the headline count
- check the top holder before you call anything a floor
i'm not in this one either way, which makes it easier to say out loud)