"Only Strategy Bought"…Q4 Bitcoin-hoarding companies sharply decline

JOON HYOUNG LEE

Summary

CryptoQuant reported that nine new DAT firms began Bitcoin reserves in Q4, a roughly 83%% drop compared with Q3.
Cointelegraph said that some Bitcoin-reserve firms, including Japan's MetaPlanet, stopped buying in Q4 or sold their held Bitcoin.
By contrast, Strategy continued to add to its reserves by purchasing an additional $960 million of Bitcoin.

Digital asset treasury (DAT) firms that declared Bitcoin (BTC) reserves in Q4 this year have sharply decreased.

According to CryptoQuant on the 11th (local time), the number of new DAT firms that began Bitcoin reserves in Q4 stood at nine as of the 9th. Compared with Q3 this year (53), that's about an 83% contraction. CryptoQuant said, "As the year-end approaches, corporate (Bitcoin) adoption is slowing down."

Some Bitcoin-reserve firms even stopped buying Bitcoin in Q4. Japan's version of Strategy, MetaPlanet, is a representative example. MetaPlanet has not purchased any Bitcoin since September. Cointelegraph reported, "Some companies, such as the UK’s Satsuma Technology, are selling the Bitcoin they held."

*Monthly trend in the number of new digital asset treasury (DAT) firms that began Bitcoin reserves. Photo=CryptoQuant*

Meanwhile, the world's largest Bitcoin-holding firm, Strategy, has been steadily buying Bitcoin. Strategy made an additional Bitcoin purchase worth $960 million (about 1.4 trillion won) on the 8th. It was the largest Bitcoin purchase since July this year.

Meanwhile, 117 new DAT firms started Bitcoin reserves this year. Compared with one year ago (40), that is nearly a threefold increase. Cointelegraph said, "Listed companies currently hold $90.2 billion worth of Bitcoin," adding that "this amounts to 4.7% of the total Bitcoin supply."

BTC