Bitcoin’s rally lost impulse in August, and the deceleration of corporate accumulation can explain why.
Traced Treasury entities added 47,718 BTC last month ($ 5.2 billion)Below more than 100,000 BTC in July, according to the last Bitcoin Treasury Adoption Report. That led to the total shares between public companies, private companies, governments and ETF at 3.68 million BTC, valued at $ 400 billion at the end of the month. The monthly increase of 1.2% was much weaker than 4.6% in July.
This flexibility in BTC’s acquisitions by corporate entities could offer an explanation for the BTC demonstration to $ 123,000 that are not supported. Bitcoin reached a historical maximum in mid -August, but fell more than 11.5% at the end of the month to sit below $ 109,000.
The deceleration occurred despite aggressive fund collection ads. Treasury companies described more than $ 15 billion in capital increases. (Mstr)Gentle (Naka) and Metaplenet (3350). These commitments have not yet been translated into immediate purchases, leaving a gap between fundraising holders and the real impact of the market.
Even with the softer rhythm, August saw important milestones. The public company Holdings crossed the threshold of 1 million BTC for the first time, doubling at the end of 2024, according to the report.
Among individual companies, the Kindlymd health company made the second largest purchase of the month with a purchase of 5,744 BTC for a value of $ 679 million. The Metaplanet of Japan added 1,859 BTC to four different transactions.
Crypto Exchange Bullish (BLsh) Also joining the treasure classifications after its August opi. The firm revealed that it has had 24,000 BTC since March, valued at $ 2.6 billion at the end of August. The CEO Tom Farley described the company’s strategy as part of an ongoing institutional wave, telling CNBC that “it feels that institutional investors think this could be the time.” The Matrix of Exchange Bullish Global is also the owner of Coindesk.
Despite these high profile movements, the added value of the treasure bonds fell from $ 428 billion in July to $ 400 billion in August since the price of Bitcoin decreased to $ 108,695 by the end of the month.
