Bitcoin Treasuries Sell Everything… and Cry

by

A recent report from Bitcointreasuries.net has highlighted a significant shift in the behavior of Bitcoin (BTC) treasuries, revealing that the number of sales has outpaced purchases for the first time in February. A veritable exodus of digital gold, as if the very coins had conspired to flee their masters.

Bitcoin Treasuries Experience Net Decrease

According to the report, public companies engaged in treasury strategies purchased or disclosed nearly 7,800 BTC worth approximately $522 million at the end of February 2026. A feast for the greedy, though one suspects the feast was merely a ruse to lure them into the trap of ownership.

Notably, about two-thirds of these acquisitions were attributed to a single entity, Michael Saylor’s Strategy (previously MicroStrategy), while just six other companies accounted for the rest. A singular sorcerer’s apprentice, wielding the power of the blockchain like a medieval knight with a sword.

However, selling activity overshadowed these additions, with various public treasuries collectively selling or reducing their holdings by approximately 8,600 BTC. This resulted in a net decrease of around 800 BTC for the month. A net loss so profound it could make a monk weep into his soup.

Even if there had been no sales in February, the net additions would still have paled in comparison to previous months, such as January and December, which saw gains of 41,000 BTC and 29,000 BTC, respectively. A mere flicker in the grand scheme of things, like a candle in a hurricane.

Additionally, the report analyzed the dollar value of public companies’ holdings, which fell from $102 billion in January to $78 billion in February, reflecting Bitcoin’s downtrend experienced during the month. A descent so steep it could rival the fall of a disgraced angel.

Despite this downturn, there is a glimmer of hope, as the report indicates that public treasuries added an estimated 62,000 BTC so far in the current quarter, primarily driven by Strategy’s activities. A flicker of hope, yes-but hope is a fickle thing, as fickle as a siren’s song.

Strategy Poised For Continued Dominance

Strategy emerged as the dominant player in Bitcoin acquisitions during February, purchasing 5,075 BTC, which represented two-thirds of the month’s total purchases. A dark overlord of the blockchain, casting shadows over the market with every transaction.

The company accounted for 65% of all Bitcoin treasury buying in February, reinforcing its dominance in this sector. However, it is worth noting that this was one of Strategy’s smaller buying months, as it had made larger purchases in December (22,627 BTC), January (40,150 BTC), and the first half of March (21,009 BTC). A tempest in a teacup, compared to its previous feats.

Several other companies also contributed to Bitcoin acquisitions during the month. Coinbase reported in its fourth-quarter 2025 results that it holds 15,389 BTC, having increased its holdings by 841 BTC since the previous quarter. A modest rise, like a snail climbing a mountain.

MARA Holdings also saw its balance rise, reporting 53,822 BTC at month-end-a gain of 572 BTC from the last quarter. The company, however, has faced speculation about potential sell-offs, despite clarifying its position regarding sales in its 10-K filing. A riddle wrapped in a mystery, inside an enigma.

Looking ahead, the report suggests that Strategy is likely to maintain its dominance in Bitcoin buying, especially given its strong start in March and its commitment to ongoing BTC purchases. A juggernaut, albeit one with a penchant for self-destruction.

Nonetheless, significant sales by various companies in recent months, along with new approvals for these sales from firms like MARA Holdings and GD Culture Group, may lead to further reductions in holdings and potentially result in net negative changes in the months to come. A prophecy of doom, whispered by the shadows.

At the time of writing, BTC was trading at $71,090, which is an increase of 1.4% over the last 24 hours, despite failing to surpass the resistance level of $74,000 earlier on Friday. A small victory, but one that feels like a drop in the ocean of despair.

Read More

2026-03-14 13:12