- Bitcoin reserves on exchanges have fallen to their lowest level since November 2018, with approximately 2.6 million BTC currently held.
- Public companies have acquired nearly 350,000 BTC since November, with Strategy accounting for 81% of these purchases.
- The trend of Bitcoin moving off exchanges suggests a shift toward long-term investment rather than short-term trading.
Bitcoin reserves on cryptocurrency exchanges have reached their lowest point in more than six years as public companies increase their acquisition of the digital asset following the U.S. presidential election, according to Fidelity Digital Assets. More than 425,000 BTC have been withdrawn from exchanges since November, bringing the current exchange supply to approximately 2.6 million BTC.
“We have seen Bitcoin supply on exchanges dropping due to public company purchases — something we anticipate accelerating in the near future,” Fidelity reported on the X social media platform. This movement of Bitcoin off exchanges is typically interpreted as a signal that investors are adopting a long-term holding strategy rather than engaging in short-term trading.
During the same period, publicly traded companies have acquired nearly 350,000 BTC, according to data shared by Fidelity Digital Assets. The subsidiary was established in 2018 by Fidelity Investments, the Boston-based asset manager with $5.8 trillion under management, well before cryptocurrency gained recognition as an institutional asset class.
Fidelity is also notable as the issuer of the Fidelity Wise Origin Bitcoin Fund, one of the first 11 spot Bitcoin exchange-traded funds approved in the United States.
Strategy Leads Corporate Bitcoin Accumulation
While multiple public companies have purchased Bitcoin, the business intelligence firm Strategy, co-founded by Michael Saylor, has dominated this trend. Since November, Strategy has acquired 285,980 BTC, representing 81% of the approximately 350,000 BTC purchased by publicly traded companies.
The company’s most recent acquisition of 6,556 BTC was disclosed on April 21, continuing its aggressive accumulation strategy that has transformed the firm into what many now describe as a Bitcoin bank.
Asian Companies Join the Bitcoin Treasury Movement
The Bitcoin treasury strategy has also gained traction outside the United States, particularly in Asia. Metaplanet, a Japanese company, currently holds 5,000 BTC, with CEO Simon Gerovich stating his intention to double that amount this year.
Similarly, Hong Kong‘s HK Asia Holdings has announced plans to raise approximately $8.35 million potentially to increase its Bitcoin reserves, further demonstrating the growing corporate interest in holding Bitcoin as a treasury asset.
This global trend of corporate Bitcoin accumulation, coupled with the declining exchange supply, suggests a significant shift in how institutions and companies view the digital asset – increasingly as a long-term store of value rather than a speculative trading vehicle.
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