Global listed companies recorded a net sale of $85.45 million in Bitcoin last week, according to data through July 13, 2026, reversing the aggressive accumulation seen among listed corporate holders earlier in the year and highlighting a more selective approach to digital asset treasuries.
The weekly figure represented a 908.42% decline from the previous week’s net activity, the data showed. The shift came even as some companies continued to add to their Bitcoin positions, while others sold holdings to fund business expansion, repay debt, or maintain liquidity during a period of tighter financial conditions.
Publicly traded non-mining companies held a combined 1,139,635 Bitcoin at the end of the reporting period. At recent market prices, those holdings were valued at about $71.38 billion and represented roughly 5.7% of Bitcoin’s circulating supply.
Strategy remained the largest corporate Bitcoin holder by a wide margin. Its Bitcoin balance was unchanged at 843,775 coins, while its dollar reserve increased to $3 billion. The rise in cash reserves suggested the company had strengthened its liquidity position without reducing its Bitcoin treasury.
Bitcoin was trading near $62,850, below its highest levels of the year. The decline has placed fresh attention on corporate treasury decisions, especially among companies that previously expanded their digital asset holdings during stronger market conditions.
Corporate Bitcoin activity turns mixed
The latest weekly data showed a divided corporate market. Some listed firms continued to add Bitcoin to their balance sheets, while others reduced exposure.
Brazil’s OrangeBTC acquired 8 Bitcoin at an average price of $62,100 per coin. Asset manager Strive added 18 Bitcoin at an average price of $64,028 each, raising its total holdings to about 19,900 coins.
Hyperscale Data increased its Bitcoin reserves by roughly 100 coins, taking its holdings above the 1,000-Bitcoin threshold. The company is also considering using Bitcoin as collateral for future financing, a move that would tie its treasury strategy more closely to capital-raising plans.
Cleanspark purchased 454 Bitcoin for about $29 million, bringing its total holdings to 13,924 coins. Those holdings were valued at roughly $880 million at the time of the update. The purchase came after the company previously reported a quarterly net loss of $378.3 million, underscoring the tension between treasury accumulation and operating performance for some firms in the sector.
Boyaa Interactive also expanded its Bitcoin position, adding 108 coins and lifting its total holdings to 4,201 Bitcoin.
Other companies moved in the opposite direction. BitFuFu sold 184 Bitcoin, leaving it with 1,671 coins. Bitdeer held no Bitcoin at the end of the week after selling 227.5 Bitcoin mined during the period.
Empery Digital made one of the largest reductions, selling 1,400 Bitcoin and cutting its balance to 1,514 coins. The company said proceeds would be used partly for a $65 million AI data center project and debt repayment.
The transactions show that corporate Bitcoin strategies are no longer moving in one direction. During periods of strong price momentum, listed companies often add digital assets to strengthen treasury narratives or diversify reserves. In the latest week, however, liquidity needs, debt obligations, and capital spending plans appeared to play a larger role.
Second-quarter buying remained strong
Despite last week’s net selling, the broader quarterly trend remained positive. Listed companies collectively purchased about 110,000 Bitcoin in the second quarter of 2026, or 1.8 times more than the amount acquired during the previous two quarters combined.
That surge showed that corporate appetite for Bitcoin remained significant earlier in the year, particularly among companies that view the asset as a long-term reserve or collateral tool. The latest weekly selling does not erase that pattern, but it suggests the pace of accumulation may be becoming more uneven.
For traders, the distinction matters. A strong quarterly accumulation figure can support the view that corporate treasuries remain an important source of structural demand. At the same time, weekly sales by individual firms can increase short-term supply and weigh on sentiment, especially when Bitcoin is already trading below recent highs.
The value of corporate Bitcoin holdings is also highly sensitive to market price changes. At about $62,850 per coin, the combined non-mining public-company holdings were worth more than $71 billion. A move of several thousand dollars in either direction can change the paper value of these balances by billions of dollars.
Ethereum holdings expand at Bitmine
Corporate activity was not limited to Bitcoin. Bitmine Immersion Technologies increased its Ethereum holdings by 27,801 ETH, raising its total reserves to 5,770,038 ETH.
The company has staked 4,917,189 ETH, with the staked position valued at roughly $9 billion. Staking allows holders to participate in Ethereum network validation and earn rewards, but it can also reduce immediate liquidity depending on withdrawal timing and operational arrangements.
Bitmine’s large Ethereum position highlights a broader trend among some digital asset-focused companies that are building treasuries beyond Bitcoin. Ethereum’s role in staking, decentralized applications, and tokenized financial activity gives it a different corporate use case from Bitcoin, which is more commonly held as a reserve asset.
Still, the risks remain substantial. Corporate Ethereum holdings are exposed not only to price volatility but also to network-level developments, regulatory treatment, staking yields, and liquidity conditions across the digital asset market.
Solana and token-related updates
On the Solana side, DeFi Development Corp. said it would transfer operational management of the meme token DONT to a new independent team. The company said its treasury allocation of 31.6% would remain unchanged.
The update indicates a separation between operational control and treasury exposure. For the company, keeping the allocation unchanged preserves its economic link to the token, while the independent team assumes responsibility for day-to-day management.
In a separate market update, BNB Plus was delisted from Nasdaq after its share price fell below $1. The security will now trade over the counter under the ticker BNBX.
A move from Nasdaq to over-the-counter trading can reduce visibility and liquidity. Companies whose shares are delisted often face a narrower trading base and higher scrutiny from creditors, counterparties, and market participants.
U.S. stocks face crowded positioning
The digital asset moves occurred alongside a more complex backdrop in U.S. equity markets. Bank of America’s “Bull & Bear” indicator reached 9.4 on a 10-point scale, suggesting that equity positioning had become highly bullish.
Cash allocations were reported at 3.6%, near a two-year low, while net overweight positions rose to 24%. Those figures point to a market in which many traders have already increased exposure to equities, potentially leaving less room for fresh buying if economic or earnings data disappoint.
Crowded positioning does not necessarily mean a market decline is imminent. However, it can make price moves more sensitive to negative surprises. When cash levels are low and bullish positioning is high, traders may have less flexibility to absorb shocks without reducing exposure.
A major U.S. stock benchmark was reported near 7,515 points after a decline linked to renewed concerns about rising costs. Inflation worries remain an important factor because they affect expectations for interest rates, corporate margins, and consumer demand.
Ten-year government bond yields stood at 4.56%, keeping borrowing costs elevated for many companies. Higher yields can pressure firms with refinancing needs and reduce the appeal of riskier assets by increasing the return available on government debt.
For listed companies holding Bitcoin or other digital assets, the interest-rate backdrop matters. Higher borrowing costs can encourage firms to preserve cash, repay debt, or sell liquid assets to fund operations. That dynamic may help explain why some companies reduced their Bitcoin holdings while others continued to accumulate.
Earnings may broaden beyond technology
Morgan Stanley projected that the corporate earnings season could broaden market gains beyond technology companies. According to the projection, the median constituent of the S&P 1500 reported earnings growth above 10%.
Analysts expect S&P 500 profits to expand by 23%, which would rank among the strongest growth phases outside periods of recovery from major recessions.
If earnings strength spreads beyond large technology firms, the equity market could become less dependent on a narrow group of companies. That would be important because recent market advances have often been concentrated in a limited number of technology and artificial intelligence-related shares.
A broader earnings base could support confidence in corporate fundamentals. But the combination of stretched positioning, low cash allocations, and high bond yields means the market may still be vulnerable to sharp reactions if inflation data, earnings reports, or central bank signals disappoint.
Foreign funds leave South Korea
In Asia, foreign funds have withdrawn nearly $110 billion from South Korea’s stock market, the largest outflow on record. The withdrawals have placed pressure on major companies including Samsung Electronics and SK Hynix.
The outflow reflects a broader reassessment of risk in overseas technology hubs. South Korea’s equity market is heavily linked to semiconductors, memory chips, consumer electronics, and global technology supply chains. When global demand expectations weaken or traders reduce exposure to cyclical technology names, South Korean shares can be particularly affected.
The pressure on Samsung Electronics and SK Hynix is especially significant because both companies are central to the global memory chip market. Their share-price performance often serves as a signal for expectations around artificial intelligence infrastructure, smartphones, data centers, and broader electronics demand.
At the same time, China’s ChangXin Memory scheduled its initial public offering for July 27. The company is targeting 29.5 billion yuan in proceeds at an estimated market capitalization of 295 billion yuan.
The planned offering comes as China continues to develop its domestic semiconductor industry. A successful listing would provide ChangXin Memory with substantial capital as competition in memory chips intensifies across Asia.
Liquidity needs shape treasury moves
The latest corporate Bitcoin sales suggest that some listed companies are prioritizing cash, debt reduction, and capital projects over continued digital asset accumulation.
Empery Digital’s sale was directly linked to funding an AI data center project and repaying debt. Hyperscale Data’s consideration of Bitcoin-backed financing shows another approach, where digital asset holdings may be used to support borrowing rather than sold outright.
These strategies reflect different attitudes toward balance-sheet management. One company may sell Bitcoin to reduce liabilities or fund development. Another may keep holdings intact and seek financing against them. A third may continue buying despite market volatility, viewing lower prices as an opportunity to build reserves.
The common factor is that Bitcoin has become a more active treasury asset for some listed companies. It is not simply held passively. It can be bought, sold, staked indirectly through related strategies, pledged as collateral, or used to support a company’s market narrative.
That flexibility also introduces risk. Bitcoin’s volatility can quickly change the value of corporate reserves. If prices fall sharply, companies with large holdings may face questions about unrealized losses, collateral coverage, or future liquidity. If prices rise, the same holdings can strengthen balance sheets and attract market attention.
Traders watch key price levels
Spot exchange-traded funds tied to digital assets recorded outflows of $4.9 million over the past three days, adding to signs of softer short-term demand. The outflow was modest relative to the size of the market, but it came as Bitcoin traded below its yearly highs and corporate selling turned net negative for the week.
Market participants were watching the $58,000 level as a key area for Bitcoin. A clear break below that zone could increase caution among traders who use technical levels to manage exposure.
Market commentator Pillows recently warned that previous inflation reports had been followed by double-digit price swings within minutes. While such moves are not guaranteed, the warning reflects the current sensitivity of digital assets to macroeconomic data.
Inflation readings, bond yields, and expectations for central bank policy remain central to the near-term outlook. Digital assets often react quickly when traders reassess the path of interest rates. Higher inflation can push yields upward and reduce demand for speculative assets, while softer inflation can improve liquidity expectations.
For now, corporate Bitcoin activity is sending a mixed signal. The second quarter showed heavy accumulation by listed companies, but the latest week brought net selling and more evidence that some firms are turning to Bitcoin reserves as a source of cash.
That does not necessarily mark a full reversal in corporate demand. Strategy’s unchanged holdings, Strive’s additional purchases, Cleanspark’s buying, and Bitmine’s Ethereum expansion show that some companies remain committed to digital asset treasuries. Still, the sales by BitFuFu, Bitdeer, and Empery Digital show that balance-sheet pressure and funding needs are becoming more visible.
The result is a less uniform market. Corporate treasuries remain an important part of the digital asset landscape, but their decisions are increasingly shaped by the same forces affecting traditional markets: cash needs, debt costs, earnings expectations, inflation risk, and the availability of financing.
As institutions rebalance Bitcoin exposure, learn whether to buy Bitcoin now or wait for clearer macro signals.
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