If Bitcoin Treasury Companies Are Buying Billions, Why Is The Price Not Going Up?

Bitcoin BTC/USD has seen the treasury company trend accelerating, though the surge in interest isn't translating into higher prices.

What Happened: Despite a surge in Bitcoin treasury holdings by public companies and 100% in asset value, the price of Bitcoin hasn't meaningfully benefited.

The crypto king remains 8% below its all-time high and only 19% up year-to-date, only modestly outperforming the S&P 500.

The main reason is that much of the activity is Bitcoin shifting from private to public treasuries, not fresh inflows.

When both public and private companies are considered, holdings rose just 28%, far less than public-only figures suggest.

This reshuffling boost equity valuations for public firms but does little for BTC's spot price, Protos reported.

Treasury-funded firms themselves have suffered, with leading BTC equities like Nakamoto, Strategy MSTR, Twenty One, Asset Entities, Semler, and MetaPlanet are down 25%–71% from their 2025 highs.

Also Read: Bitcoin, Ethereum, XRP, Dogecoin Consolidate Ahead Of Powell’s Friday Speech

Why It Matters: Capriole Investments founder Charles Edwards noted that Bitcoin treasury firms had one of their largest single-day buying sprees on July 31.

Yet BTC prices dropped from $117,000 to $112,000 within three days of these purchases,

BeInCrypto, in an X post on Aug. 19, highlighted the boom in Bitcoin treasury companies, as public firms holding Bitcoin nearly doubled from 70 to 134 in H1 2025, with 245,000 BTC acquired.

It shows that companies listed in 27 countries have adopted a BTC strategy.

CoinTelegraph reported that corporate treasuries and funds have scooped up 371,111 BTC on a year-to-date basis, which is 3.75x more than all miners produced in the same period.

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