The market value of global Bitcoin treasury companies has shrunk, and their holdings have increased to 1.14 million coins

Analyst Darkfost pointed out that since October 2025, the market value of global Bitcoin treasury holdings has shrunk from $396 billion to $272 billion, and the total holdings have increased from 953000 to 1.14 million. These companies built a large number of positions in the price range of $75000 to $125000 between November 2024 and October 2025. Strategy has recently started selling Bitcoin, and if other companies follow suit and reduce their positions, it will pose a downside risk to Bitcoin prices.