Corporate Bitcoin Buying Slows in August Amid Price Pullback
Bitcoin’s rally lost steam in August, coinciding with a slowdown in corporate accumulation.
Treasury entities added 47,718 BTC last month, worth $5.2 billion—a sharp decline from over 100,000 BTC purchased in July, according to the latest Bitcoin Treasuries Adoption Report. Total holdings across public companies, private firms, governments, and ETFs now stand at 3.68 million BTC, valued at $400 billion at month-end. The 1.2% monthly increase was far below July’s 4.6% growth.
The slower pace of purchases may explain why Bitcoin’s mid-August high near $123,000 was short-lived, with the price sliding more than 11.5% to below $109,000 by month-end.
Despite the slowdown, public company holdings reached a milestone, surpassing 1 million BTC for the first time—doubling since late 2024. Notable acquisitions included healthcare firm KindlyMD, which bought 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 described the move as part of an ongoing institutional wave, saying, “It feels like institutional investors think this could be the moment.” (Bullish Global, the parent company, also owns CoinDesk.)
Despite these headline-grabbing purchases, the aggregate value of tracked treasuries fell from $428 billion in July to $400 billion in August, reflecting Bitcoin’s price pullback to $108,695.
