The rush by companies to stockpile bitcoin as a treasury asset is fading fast after a surge earlier this year. More than 200 firms adopted crypto-treasury strategies during 2025, but September saw corporate bitcoin purchases drop to their lowest pace since April, according to K33 Research.
The Wall Street Journal (gated) with the info. In brief:
- A quarter of the listed companies that pivoted into bitcoin now trade below the value of their token holdings, while some stocks have fallen more than 50% since announcing the shift. Regulators have also increased scrutiny of the practice.
- The “crypto treasury” trend took off after President Trump voiced support for digital assets, prompting companies from sectors as varied as biotech to farming equipment to declare their intentions to hold bitcoin.
- But analysts say the frenzy of private stock offerings used to finance these purchases has left the market oversaturated, cooling investor appetite.
This article was written by Eamonn Sheridan at investinglive.com.