Falling prices, debt obligations, and challenging market conditions are forcing public companies to sell off Bitcoin en masse. According to Matthew Sigeli, head of digital assets at VanEck, dozens of organizations have fully or partially liquidated their cryptocurrency reserves.
The expert emphasized that companies are restructuring their businesses and transitioning to the field of artificial intelligence.
Shareholders of Satsuma Technology voted to sell all 668 BTC and delist from the London Stock Exchange. Sequans Communications has sold nearly all of its cryptocurrency to pay off debts. The management has announced a permanent withdrawal from purchasing digital assets.
Mining companies are also changing their direction. In February, Bitdeer announced the sale of all mined and held coins. At the same time, the company continued to convert its capacities into artificial intelligence infrastructure and co-location.
In March, MARA announced the sale of 15,133 BTC for approximately $1.1 billion to repurchase convertible bonds. The mining company stated that it may selectively buy or sell Bitcoins depending on market conditions and capital allocation priorities.
The crisis also hit Nakamoto Inc. The company's shares plummeted by 99% after the IPO. The management sold over 320 BTC to fund working capital. About 70% of Nakamoto's remaining reserves are frozen as collateral for a loan from the Kraken exchange. The loan repayment deadline is in December 2026.
Additionally, from May 26 to July 5, Strategy, the largest corporate owner of the first cryptocurrency, sold 3,620 BTC: first 32 BTC to pay for preferred shares, then another 3,588 BTC to replenish its dollar reserves. At the time of writing, the company holds 843,775 BTC:
It is worth noting that since the peak of over $126,000 for digital gold in October, the treasury assets of the cryptocurrency have decreased by more than a third:
