It is a corporate phenomenon that includes Bitcoin (BTC) in the Ministry of Finance, and it goes beyond mere trends that make this practice the main business model. In fact, these movements create opportunities, but systematic ecosystem risks are also pending.
Today, data does not show any signal of imminent danger, but warns from investment company Capriol Investment When some of these companies start selling, the risks become apparent Your Bitcoin Holdings.
Since 2024, the number of companies adopting BTC as a strategic asset has grown rapidly. Currently, 215 public contribution companies around the world maintain Bitcoin on their balance sheets. Pioneering model of MicroStrategy – The current famous “strategy” – It served as a guide for other companies trying to replicate yields.
Capriole’s financial analyst and founder Charles Edwards argues that this environment is possible thanks to favorable liquidity conditions, regulatory clarity and new infrastructure for Bitcoin acquisition. This set of factors has led to institutional capital flowing more confidently towards the ecosystem.
On-chain data reflects this change. As of July 2025, 74% of the total Bitcoin supply is in the hands of long-term holders (LTH), worth 15.7 million Bitcoins, as seen in the next Bitbochart.
This percentage shows historic maximums, suggesting strong belief in current investors. Historically, this type of concentration does not occur at the final stage of the market cycle. on the contrary, It is more common at the beginning of a new bullish impulse.
In LTH, the call stands out Bitcoin Finance Company (TC), or BTC finance company. These companies play an active role in absorbing BTC supply. Because they adopt a continuous purchasing policy rather than a salesit makes them a kind of market liquid vacuum cleaner.
The founders of Capriolle hope that if the current acquisition rate is maintained, corporate hands’ Bitcoin holdings will exceed ETF holdings in the next six to 12 months. It’s surprising given that ETFs currently accumulate 1.37 million bitcoins and control 6.56% of their total supply. Meanwhile, the TC has detained 1.24 million BTC and stepped into the heels.
Analysts warn that this behavior can amplify the market cycle. Today they like to increase prices, However, in the future, if they decided to settle some of the reserves, they could accelerate the waterfall.
What causes a company to sell?
Since 2024, Capriol has begun to be exposed to stocks in companies employing Bitcoin as its financial assets. The company has also developed surveillance systems to closely follow the evolution of these companies.
Among the variables analyzed are the Bitcoin acquisition rate, the relationship between our market value and its BTC (MNAV) holdings, and the sensitivity of the Bitcoin price for those purchases. According to Capriolle, these companies will allow leveraged exposure to Bitcoin. This can be useful for short-term strategies when the market shows bullish signals.
The environment is still advantageous now. Bitcoin prices exceed $123,000 (on Friday, August 1st, he revised it to $114,000). Furthermore, debt levels are relatively low, and many of these companies maintain their acquisition policy without sales. In this regard, Their behavior may show yields above the market average.
The latter was a proven fact. For example, the strategic action that so far accumulates 628,791 Bitcoins has reached its historic maximum, increasing by 143.6% in one year, as seen in the following graph. All for the impulses that BTC gave him.
Another notable case is Metaprenet, a Japanese company that closely follows the steps of its strategy and accumulates 17,000 bitcoins. The shares rose 787% during the same periodas the graph shows below, is equally motivated by progressive investments in BTC.
But Edwards warns that this balance is fragile. Many new companies are entering the market at a purchase price of nearly $100,000 per BTC.
He explains that as long as the number of participants increases, competition could similarly reduce the ability of a company to attract fresh capital. In that scenario, Some entities may be seduced to continue expanding their position with more debtassumes additional risks.
In fact, Bitcoin’s corporate fever has been unleashed, with companies in Latin America, the US, Asia and Europe opening up space to create Nakamoto at within that balance. This uses methods such as strategies borrowed for up to $2,000 million to buy Bitcoin.
breakdown
According to analysts, the breakdown is These companies are forced to sell some of their reservations. This could be caused by shareholder pressure, liquidity needs, or financial restructuring.
The background reasons are not important, but the simple fact that a well-known company, Type Strategy, sells Bitcoin; It can create distrust and lead to a chain reaction. Other companies mimic the movement to avoid greater losses, and the price of BTC could drop rapidly.
This has already been warned in the past by critics of Michael Saylor’s company strategy. He has just pointed out the systemic risks that one of these great whales would assume would decide to leave their holdings.
Craig Coven, former global capital market chief at Bank of America, said that if BTC prices fall, the strategy’s “noble circle” could become a “vicious circle.” BTC purchases are “diluted by shareholders.”Cryptonotic Report.
If that reality is extrapolated to all companies that invested in Bitcoin, the scenario A room full of people trying to get out of a door at the same timedraws Edwards from Capriol.
In previous cycles of traditional markets and cryptocurrency, it is not new. Similar dynamics have similar purposes. From stock market retail leverage in 1929 to the Luna incident in 2022, they are scenarios that sparked a major financial crisis.
Given this situation, companies’ monitoring of Bitcoin sales has become an important factor. In short, Edwards says, of course, that the phenomenon of the Corporate Treasury will continue to drive the market, and that is the case. The future actions of these entities can mark the beginning of a major revision.
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