Bitcoin Not Bought by Strategy, 'Picked Up' by SMEs... Locking Up Supply in a Bear Market

▲ Bitcoin (BTC), Strategy (MSTR)/AI generated image

While the price of Bitcoin (BTC) dipped below $80,000 and Strategy halted its weekly purchases, small and medium-sized Bitcoin treasury companies stepped in to fill the void, acquiring an additional 602.6 BTC.

According to crypto media outlet Cointelegraph on May 26 (local time), small and medium-sized Bitcoin treasury companies purchased 602.6 BTC, worth approximately $46 million, last week. With Strategy, the largest corporate holder, pausing its usual weekly purchases, corporate Bitcoin demand did not disappear but rather shifted towards smaller treasury companies.

This acquisition included 381.6 BTC purchased by Strive, an asset management firm and Bitcoin treasury company; 200 BTC by global consumer food brand DDC Enterprise Limited; 19 BTC by UK web design company The Smarter Web Company; and 2 BTC by AI data center company Hyperscale Data.

The companies' purchases occurred immediately after Bitcoin dropped below $80,000. Strive's average purchase price was $79,348, and DDC's average purchase price was $79,496. The Smarter Web Company purchased Bitcoin at an average of $77,687. Hyperscale Data bought Bitcoin in the open market but did not disclose its average purchase price.

During the same period, Bitcoin spot ETFs saw a total net outflow of $1.54 billion over six trading days until Friday. However, Santiment interpreted the increased ETF outflows as a contrarian indicator, suggesting they reflect retail investor sentiment more than smart money positioning.

This trend emerged a week after Strategy acquired 24,869 BTC for $2.01 billion from May 11 to 17. At the time, Strategy's average purchase price was $80,985, and that investment was the third largest of 2026. According to Bitcointreasuries, there are currently approximately 198 public Bitcoin treasury companies, holding 1.24 million BTC, which accounts for about 5.9% of the total supply.

*Disclaimer: This article is for informational purposes only and should not be considered investment advice. No responsibility is taken for investment losses based on this information. The content should be interpreted solely for informational purposes.*