12 Companies That Launched Bitcoin Treasuries in 2025 Have Sold All Their Bitcoin. Here's the Potential Impact.

A dozen digital asset treasury (DAT) companies that began buying Bitcoin in 2025 have already sold all their holdings, mostly to repay debt after stock declines. These companies bought during the bull market and sold during the subsequent bear market, resulting in steep losses. However, their sales had minimal impact on Bitcoin's price since they controlled only a small portion of supply. Strategy remains the dominant player with 4% of Bitcoin's total supply and has demonstrated consistent buying through market downturns.