Bitcoin Plunges 6.5% as OG Wallets Cash Out While Corporate Giants Keep Stacking

Bitcoin takes a hit as early adopters dump holdings—just as institutional players double down on accumulation.

WHALES VS. WALL STREET

Original Bitcoin wallets—the kind that haven't moved since 2013—are finally taking profits, triggering a 6.5% slide. Meanwhile, corporate treasuries and ETF inflows show no sign of slowing. Somebody's buying this dip.

THE REAL STORY BEHIND THE SELL-OFF

It’s classic crypto: early hands cashing out while new money piles in. Old coins moving after years of dormancy usually signal local tops. But this time? The big players aren’t flinching.

CORPORATIONS ARE STILL HUNGRY

Despite the price drop, on-chain data and exchange outflows suggest heavy accumulation from known institutional buyers. They’re treating this like a Black Friday sale—while retail panics.

BOTTOM LINE: VOLATILITY MEANS OPPORTUNITY

If you can’t handle a 6% drop, maybe you shouldn’t be in crypto—or any market, for that matter. Smart money buys when blood's in the streets. The rest just complain on Twitter.

Companies keep stacking while Bitcoin trades lower

Even with the price dip, bitcoin is still up more than 17% for the year. But price isn’t the headline anymore. What matters is who’s buying. This year’s real story is corporate. Both private and public companies have been loading up their treasuries with Bitcoin, and that trend just got louder.

The model came straight from Michael Saylor, whose firm, Strategy (MSTR), formerly known as MicroStrategy, was the first to throw corporate weight behind the asset.

Now, that playbook has been copied by at least 180 other firms. And of those, around 25% were trading below the value of their Bitcoin holdings as of August 22, based on data from Capriole Investments. The situation’s getting strange enough that buying shares in these companies is basically buying cheap Bitcoin, sometimes cheaper than market price.

In July, public companies alone bought up nearly two-thirds of all the Bitcoin acquired by major players—ETPs, governments, corporates, everybody.

Nikolaos Panigirtzoglou, Managing Director at JPMorgan, said the effect of these new buyers is already being felt. He believes this wave could make Bitcoin “more attractive from a valuation point of view,” adding that falling volatility may even make it a stronger challenger to gold. The steadier the buying, the more likely Bitcoin is to keep showing up in portfolios that used to only hold metals and fiat.

Corporate treasuries are also holding Ether, and even smaller names are getting attention. Just last week, Trump Media Group announced it would partner with Crypto.com to launch Trump Media Group CRO Strategy. That company will manage Cronos (CRO-USD), Crypto.com’s in-house blockchain token. Since the Tuesday announcement, CRO’s market cap has jumped to $9 billion.

The buying surge and political greenlight are unfolding while the U.S. economy sits in the shadow of quantitative easing. The Fed used it during COVID and the 2008 crash, pumping the economy with money to avoid collapse. Critics have long called it “money printing,” warning it fuels risky behavior and pushes bubbles higher.

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