Corporate Bitcoin acquisitions fell sharply in October, with companies purchasing only 14,400 BTC, marking a 63% decline from September's 38,035 BTC. This drop represents the lowest monthly volume of the year, according to data from Bitcointreasuries. The market capitalization to BTC holdings ratio for major Bitcoin-holding firms like Strategy and Metaplanet decreased from 1.8x in May to 1.1x in October, indicating diminished investor confidence.
The decline is attributed to corporate earnings pressures, macroeconomic challenges, and Bitcoin's price volatility. Despite the slowdown in new purchases, companies are not offloading existing Bitcoin holdings. Analysts suggest this trend may be a temporary pause, with potential for renewed institutional interest in the future.
Corporate Bitcoin Purchases Fall 63% in October to Yearly Low
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