According to a September report from bitcointreasuries.net, Bitcoin Treasuries added 46,187 BTC in September, bringing the trailing holdings to around 3.8 million BTC at the end of the month.
Quiet buildup: holdings rose 3.63%, September buying continued in August
The latest analysis values the addition at $5.3 billion, using a September 30 base price of $114,408 per bitcoin, and finds that the combined hidden assets of companies, funds, governments, and other entities are worth about $435 billion.
According to a September report from bitcointreasuries.net, public companies hold 1,040,450 BTC, private companies hold 282,824 BTC, governments hold 515,879 BTC, exchange-traded products and similar products hold 1,657,941 BTC, and DeFi and smart contracts hold 370,497 BTC.
Total holdings across tracked entities increased by 3.63% in September, up from 1.19% in August and close to 4.63% in July. The monthly purchase amount was 46,187 BTC, which was almost the same as August’s 47,718 BTC. The report characterizes September as a steady build-up after a summer of intense activity.
A few big movements were noticeable. Strategy (MSTR) purchased 7,574 BTC and reported 640,031 BTC as of October 4th. Metaplanet added 6,564 BTC, including the purchase of 5,419 BTC on September 22, funded by an international public offering. Oranje released 3,650 BTC and listed it on Brazil’s B3 on October 7th. Strive said the all-stock merger with Semler Scientific will create Treasury with a total of 10,900 BTC, while GD Culture Group will record 7,500 BTC from the acquisition.
The world of trackers continued to expand. As of September 30th, bitcointreasuries.net counted 338 entities holding Bitcoin (BTC), an increase of 26 entities in September (18 public and 8 private). About 130 companies outside the US held 96,997 BTC, while the US remained the largest hub with 71 treasury companies and 947,958 BTC.
Evaluation indicators were mixed. The report notes concerns about market capitalization to net asset value (mNAV) measurements, with approximately 25% of treasury companies trading below Bitcoin net asset value, while K33 Research’s average mNAV was 2.8, down from 3.76 in early April. The report’s author, Pete Rizzo, said the sector’s growth has maintained the pace it has seen in recent months, despite stock price pressures.
