Bitwise and Bitfinex analysts say a Bitcoin rally could restart treasury buying
Corporate Bitcoin purchases slowed sharply in Q3, but analysts told Cointelegraph that a rally could revive buying, though investors will be far more selective about which treasuries they fund.
Key points
- Other public companies added a net 5,617 BTC in Q3, against 45,725 BTC in the previous quarter, per figures from Bitwise's Ryan Rasmussen
- US spot Bitcoin ETFs saw about $229m in net outflows last week, a second straight week of withdrawals, per SoSoValue
Corporate Bitcoin treasury buying slowed sharply in the third quarter, but analysts say a Bitcoin rally could bring buyers back later in 2026 and into 2027. Bitwise head of research Ryan Rasmussen and Bitfinex head of derivatives Jag Kooner both spoke to Cointelegraph about what would drive a revival in treasury buying.
Rasmussen's figures show other public companies added a net 5,617 BTC, against 45,725 BTC the quarter before.
Kooner said buying could resume if treasury companies regain premiums to the value of their Bitcoin, letting them issue shares and buy more without diluting shareholders' Bitcoin exposure per share. He expects capital to favour established players with scale, liquidity and a track record first, and said a wave of new listings would probably come late in a rally, which he called a warning sign.
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