Bitcoin Treasuries Witness a Notable Shift
In a groundbreaking development, a recent analysis by Bitcointreasuries.net has unveiled a pivotal shift in Bitcoin (BTC) treasury strategies. February marked the first instance where the volume of Bitcoin sales by treasuries surpassed their acquisitions, indicating a significant change in market dynamics.
Net Decline in Bitcoin Holdings
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The report reveals that public companies involved in Bitcoin treasury activities purchased or disclosed close to 7,800 BTC, equating to an investment of approximately $522 million by the end of February 2026. Remarkably, a large portion of these acquisitions was attributed to Strategy, formerly known as MicroStrategy, with just six other firms contributing to the remainder. Despite these efforts, widespread selling led to a collective reduction of about 8,600 BTC, culminating in a net decrease of approximately 800 BTC for the month.
Even in the absence of sales, net additions would have been modest compared to the substantial gains observed in December and January, where additions reached 41,000 BTC and 29,000 BTC, respectively. Furthermore, the dollar valuation of public companies’ Bitcoin holdings plummeted from $102 billion in January to $78 billion in February, mirroring the downward trend in Bitcoin’s market value during this period.
Despite the decline, optimism persists as the report highlights that public treasuries have amassed an estimated 62,000 BTC in the current quarter, primarily propelled by Strategy’s aggressive acquisition strategy.
Strategy’s Continued Influence in Bitcoin Acquisition
Strategy solidified its position as a dominant force in Bitcoin acquisitions throughout February, securing 5,075 BTC and accounting for two-thirds of the purchases for the month. By February’s close, Strategy’s Bitcoin reserve stood at an impressive 717,722 BTC, valued at nearly $48 billion. This highlights Strategy’s unwavering influence in the Bitcoin treasury sector, although February was one of its smaller acquisition months compared to previous periods marked by larger purchasing volumes.
Other notable contributors to Bitcoin acquisitions included Coinbase, which reported a holding of 15,389 BTC at the end of the fourth quarter of 2025, reflecting an increase of 841 BTC from the preceding quarter. MARA Holdings also augmented its balance, reporting 53,822 BTC at month’s end, a rise of 572 BTC from the last quarter. Despite facing speculation about potential sell-offs, MARA Holdings clarified its stance on sales in its 10-K filing.
Looking forward, the report forecasts that Strategy is poised to maintain its leadership in Bitcoin acquisitions, with a robust start in March and a commitment to ongoing BTC purchases. However, the report also warns of potential declines in holdings due to significant sales by various companies and new sales authorizations by firms like MARA Holdings and GD Culture Group, which could result in net negative changes in the months ahead.
As of the latest update, Bitcoin was trading at $71,090, experiencing a 1.4% increase over the last 24 hours, despite not breaking the $74,000 resistance level.
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