Corporate Giants Gobble Up 96% of Bitcoin Supply Before 2025 Halving—Retail Left Scraping Crumbs
Wall Street’s Bitcoin feeding frenzy hits ludicrous speed—public companies now hold 96% of all coins to be mined this year. Guess the ’decentralized’ dream comes with a VIP section.
Institutional whales swallow supply whole
While crypto bros argue about Satoshi’s vision on Twitter, Fortune 500 balance sheets quietly accumulated enough BTC to make El Salvador blush. The corporate stampede started with Tesla’s 2021 buy-in, but now looks more like a BlackRock-shaped bulldozer clearing the path.
The irony? This all happened before the next halving even hits. Mining operations might as well start shipping coins directly to C-suite parking lots.
Closing thought: Nothing screams ’hedge against inflation’ like letting the same financial dinosaurs who ruined fiat control your hard-capped digital gold. The revolution will be institutionalized.
Institutional demand surpasses issuance again
The current accumulation follows an even more aggressive purchasing cycle in 2024, when publicly listed companies acquired 331,141 BTC. Strategy was responsible for 257,250 BTC of the total.
Private companies reduced their exposure last year, selling 3,204 BTC, while ETF issuers accumulated 518,018 BTC. Collectively, these three categories acquired 845,955 BTC in 2024.
For context, roughly 217,518.75 BTC were mined throughout 2024, which means corporate and institutional demand was nearly 4x higher than the mined supply
The addition of balance-sheet-driven ownership is increasingly measurable. Publicly disclosed purchases alone now represent a meaningful share of the circulating supply, reducing the availability of liquid BTC in secondary markets.
Growing impact of absorption rates
While ETF activity has moderated compared to the previous year, the impact of sustained inflows remains material.
ETF issuers accounted for over 500,000 BTC acquired in 2024 but have added under 35,000 BTC so far in 2025. The slowdown may reflect stabilizing secondary market demand or the maturity of the initial post-approval inflow cycle.
Despite the slowdown, ETFs and corporate treasuries remain the dominant absorbers of newly mined coins. Additionally, the total amount of Bitcoin bought so far this year means institutional accumulation is absorbing the entire new supply and drawing from existing reserves.
The shift in BTC ownership structure is ongoing, with increasingly larger shares of supply being locked into long-term holdings by entities with multi-year horizons and lower liquidity turnover.
