Corporate Bitcoin Accumulation Surpasses 2025 Supply by 17%

Publicly listed companies have acquired approximately 157,957 Bitcoin (BTC) as of May 1, which constitutes 96% of the 164,250 BTC projected to be mined throughout the year. This significant acquisition underscores the growing interest and investment in Bitcoin by corporate entities.

In addition to public companies, private companies have also increased their Bitcoin holdings by 16,799 BTC during the same period. Bitcoin exchange-traded fund (ETF) issuers have acquired 34,968 BTC, further contributing to the overall demand. Collectively, these three groups have purchased 192,925 BTC in the first four months of the year, surpassing the annual expected supply of newly mined Bitcoin by 17%. This indicates a strong and sustained demand from both corporate and institutional investors.

Strategy, a prominent player in the corporate Bitcoin accumulation narrative, has acquired 107,155 BTC so far this year. This amount represents nearly two-thirds of the public company supply and over 65% of the new supply. The firm's aggressive purchasing strategy continues to shape the market, although the broader trend now includes a diverse range of mining companies, financial firms, and treasury reserve managers.

The current accumulation follows an even more aggressive purchasing cycle in 2024, when publicly listed companies acquired 331,141 BTC. Strategy was responsible for 257,250 BTC of the total. Private companies reduced their exposure last year, selling 3,204 BTC, while ETF issuers accumulated 518,018 BTC. Collectively, these three categories acquired 845,955 BTC in 2024. For context, roughly 217,518.75 BTC were mined throughout 2024, which means corporate and institutional demand was nearly 4x higher than the mined supply.

The addition of balance-sheet-driven ownership is increasingly measurable. Publicly disclosed purchases alone now represent a meaningful share of the circulating supply, reducing the availability of liquid BTC in secondary markets. This shift in ownership structure is ongoing, with increasingly larger shares of supply being locked into long-term holdings by entities with multi-year horizons and lower liquidity turnover.

While ETF activity has moderated compared to the previous year, the impact of sustained inflows remains material. ETF issuers accounted for over 500,000 BTC acquired in 2024 but have added under 35,000 BTC so far in 2025. The slowdown may reflect stabilizing secondary market demand or the maturity of the initial post-approval inflow cycle. Despite the slowdown, ETFs and corporate treasuries remain the dominant absorbers of newly mined coins. Additionally, the total amount of Bitcoin bought so far this year means institutional accumulation is absorbing the entire new supply and drawing from existing reserves.