Data: The market value of the Bitcoin treasury company has evaporated by more than $100 billion, and its holdings have increased to 1.14 million units.

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ME News, July 11 (UTC+8). Analyst Darkfost pointed out that since October 2025, the total market value of holdings of global Bitcoin treasury companies has shrunk from $396 billion to $272 billion, evaporating more than $953k. Over the same period, however, the total amount of BTC held by these companies increased from 953k to 1.14 million coins—so the decline in market cap is driven entirely by the drop in BTC price, not by selling off. However, it is worth noting that after Bitcoin entered a significantly undervalued range in May this year, the pace of accumulation has sharply slowed and is almost stalled. The most concentrated buying periods for these companies were between November 2024 and October 2025, when their holdings tripled in less than a year. The buy price range was roughly $75,000 to $125,000—right within Bitcoin’s historical high-value area. The key question is: since these companies built substantial positions in the top-range area, will they sell at lower levels? Strategy has recently been the first to start selling Bitcoin—will other treasury companies follow suit, turning into a new source of selling pressure for the market? Based on the current total holdings of 1.14 million BTC, if more companies are forced to cut positions in a sluggish market to relieve financial pressure, it could create additional downside risk for Bitcoin prices. (Source: ChainCatcher)
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