Bitcoin Treasury Summer Ends as Strategy Goes Solo With Record Buying Spree

Strategy just pulled off its fastest bitcoin shopping spree in nearly a year, snagging approximately 45,000 BTC over the last 30 days. Meanwhile, everyone else in the corporate treasury game appears to have quietly left the chat—probably staring at their spreadsheets wondering what happened.

According to fresh data from Cryptoquant, the rest of the publicly traded bitcoin treasury companies combined bought fewer than 1,000 BTC in the same period—a jaw-dropping 99% decline from their August 2025 peak of 69,000 BTC. That's not just a dip; that's a cliff dive into the abyss while Strategy doing reps at the gym.

The numbers tell the story. Non-Strategy treasury companies executed just 13 separate purchases over the past month. Back during what Cryptoquant dubbed "Bitcoin Treasury Summer" in August 2025? That figure sat at 54. The active buyer count has plummeted 76%. Somewhere, a former "bitcoin treasury" CEO is tweeting about "long-term conviction" while doing absolutely nothing.

Strategy, for its part, has maintained a remarkably consistent rhythm—four to five purchases per 30-day window—even as peers hit the brakes. The company has added 90,000 BTC to its balance sheet this year. All other treasury companies combined? A net 4,000 BTC. It's like watching one guy finish a marathon while everyone else decides to sit down and "reassess their strategy."

The consolidation is stark. Strategy now holds approximately 762,099 BTC, representing roughly 76% of all bitcoin held by publicly listed treasury companies. Their share of total corporate bitcoin purchases has shrunk from 95% in October 2024 to just 2% today. To put it another way: Strategy is the entire party, and everyone else is that one friend who said they'd come but never showed.

The runner-ups aren't close. Twenty One Capital (ticker XXI) sits second with 43,514 BTC. MARA Holdings recently sold 15,133 BTC to retire $957 million in zero-coupon convertible notes, leaving it with 38,689 BTC and in third place.