Purchases of bitcoin by public companies excluding Strategy have effectively vanished over the past thirty days.

Recent flows

Over the last 30 days, non-Strategy public entities acquired about 1,000 BTC, compared with a peak of 69,000 BTC in 01.08.2025.

During the same period, Strategy increased its holdings by about 45,000 BTC, accounting for the majority of net corporate inflows.

Market concentration and implications

Analysts warn the segment is losing diversification and growing more reliant on a single participant’s allocation choices and timing decisions.

The pronounced drop in broader corporate buying has left price momentum largely sustained by one large buyer, reducing the number of independent demand drivers.

Such concentration may raise questions about liquidity resilience and the distribution of risk among institutional participants if buying patterns change.

Outlook

Market observers note that unless other public players resume purchases, corporate flows will likely remain skewed toward the largest accumulating entity.