In our blog “Don’t Confuse Brains With a Bull Market” posted July 16, 2025, we noted that there has been a considerable increase in the number of corporations adding Bitcoin to their balance sheet. The significance of these purchases was recently summarized by QUARTZ with a list of the 10 largest publicly traded companies that own the most Bitcoins.
As more companies move to add Bitcoin to their balance sheet, the aggregate number of coins held by this group is beginning to become a sizeable share of the cryptocurrency’s fixed supply. The key question for investors is, if these are the buyers, who are the sellers?
All comments and suggestions are welcome.
Walter J. Kirchberger, CFA
