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107,082 BTC in July: Bitcoin Treasuries Speed Up Buying

Bitcoin treasuries, governments, and ETFs now hold 17% of Bitcoin's total circulating supply.

By Mike Hesp
• 2 min read
107,082 BTC in July: Bitcoin Treasuries Speed Up Buying

Bitcoin treasuries, governments, and ETFs now hold 17% of Bitcoin's total circulating supply. And buying is speeding up.

This year's big crypto theme is treasury companies. Starting with Strategy (formerly MicroStrategy), they have been making headlines almost every day.

Now, for the first time, the Bitcointreasuries.net platform has published a large-scale study that pulls together the main key figures on Bitcoin treasury companies, and they are impressive.

In July alone, 107,082 BTC flowed onto the books of publicly traded companies. That is two-thirds of the 166,000 BTC that went to entities listed on bitcointreasuries.net. Most of the rest went to ETFs like BlackRock's iShares Bitcoin Trust.

In total, companies, governments, and ETFs hold 3.64 million Bitcoin worth a combined 428 billion U.S. dollars, including 955,048 BTC on the balance sheets of publicly traded companies.

Bitcointreasuries.net also lists the biggest buyers. At the top, as expected: Strategy (MSTR) with 31,466 BTC in July. In second place: Bitcoin Standard Treasury (BSTR) with 30,021 BTC. For comparison, only 13,500 new Bitcoin are mined each month.

No surprise: the biggest Bitcoin treasury is still Strategy. Michael Saylor's company holds 628,791 BTC, funded by repeated capital raises. In second place is MARA Holdings (50,000 BTC), followed by XXI (43,514 BTC).

Bitcoin treasuries regularly spark debate about a supply shock. That is no surprise, since these entities now hold 17% of BTC's maximum supply.

All in all, the report confirms a structural shift: Bitcoin is moving from an experiment to a serious balance sheet and reserve asset. By the end of the year, publicly traded companies alone will likely have more than 1 million BTC on their balance sheets.

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