Here's what actually happened to Bitcoin ownership in Q2 2026 👀


Per River and BitcoinTreasuries data
Businesses: +115,000 BTC
Funds & ETFs: +11,000 BTC
Governments: -2,000 BTC
Individuals: -78,000 BTC
Look at that flow carefully.
While retail investors were selling roughly 78,000 Bitcoin during the quarter.
Corporations absorbed nearly 115,000 Bitcoin at the same time
This is the exact pattern that's defined this entire cycle
Individuals capitulating during weakness.
Institutions and businesses quietly accumulating that exact supply.
The same Bitcoin selling into fear is landing directly on corporate balance sheets.
This isn't the first time this has happened and it won't be the last.
But every single quarter this pattern repeats, the supply held by individuals who panic sell keeps transferring into the hands of entities with multi-decade time horizons.
BTC-1.25%
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