Corporate Digital Assets Treasury (DAT) has added a net 260,000 Bitcoin to its balance sheet over the past six months. This is much higher than the estimated 82,000 coins mined during the same period.
Over the past six months, Bitcoin (BTC) government bonds held by public and private companies have increased from approximately 854,000 BTC to 1.11 million BTC, on-chain analytics provider Glassnode reported on Tuesday.
This equates to an expansion of approximately 260,000 BTC, which is equivalent to approximately $25 billion at current market prices, or 43,000 BTC per month.
The Treasury increase highlights the “steady expansion of exposure to Bitcoin on corporate balance sheets,” Glassnode said.
Bitcoin miners who produce an average of 450 BTC per day mined approximately 82,000 coins during the same period. This may indicate a favorable supply and demand relationship at work.
Strategy contains 60% of total BTC balance
The majority of the 1.2 million BTC held in public and private company treasury balances is held by Michael Saylor’s strategy.
Strategy currently holds 687,410 BTC, which is 60% of the total, and is worth approximately $65.5 billion at current market prices.
The company resumed purchases this month after a brief hiatus, revealing that it had acquired an additional 13,627 BTC between January 5th and 11th, its largest purchase since July.
Related: $116M Bitcoin purchase kickstarts strategy in 2026 as Q4 paper losses hit $17B
According to Bitcoin Treasuries, the second-largest corporate Bitcoin DAT is MARA Holdings, which holds 53,250 BTC, worth about $5 billion.
Bitcoin ETFs could increase demand
If the inflow trend continues this year, Spot Bitcoin Exchange Traded Funds could further strengthen this supply-demand dynamic. “If demand for ETFs continues over the long term, the price of Bitcoin will go parabolic,” Bitwise Chief Investment Officer Matt Hogan said on Tuesday.
“Since the ETF debuted in January 2024, the ETF has purchased over 100% of the new supply of Bitcoin. However, the price has not gone parabolic as existing holders want to sell. If demand for the ETF continues – and I think it will – eventually these sellers will run out of ammunition.”
U.S. spot BTC ETFs recorded net inflows of approximately $22 billion in 2025, with BlackRock’s iShares Bitcoin Trust (IBIT) accounting for the largest share.
However, 2026 got off to a mixed start, with current data showing inflows of $1.9 billion and outflows of $1.38 billion, for total net inflows of just over $500 million.
magazine: Trump denies SBF pardon, Bitcoin is ‘boring’: Hodler’s Digest
