Bitcoin’s “permanent buyers” are starting to sell as debt and cash pressures mount
CryptoSlate
Corporate and sovereign entities are liquidating Bitcoin holdings to address debt and operational funding needs, challenging the narrative of long-term institutional accumulation.Summary
The Bitcoin treasury trade, once viewed as a pillar of long-term institutional stability, is facing a reality check as companies like Genius Group, Riot Platforms, and MARA Holdings sell their holdings to cover debts or pivot to new industries. While some entities like Metaplanet and Strategy continue to accumulate, many others are treating Bitcoin as a liquid asset to be sold during financial stress rather than a permanent reserve. This trend suggests that institutional adoption may not necessarily reduce market volatility, as these large holders often act as pro-cyclical sellers when faced with capital requirements.
(Source：CryptoSlate)