tl;dr
As of May 1, publicly listed companies have acquired approximately 157,957 Bitcoin, representing 96% of the 164,250 BTC expected to be mined in 2025. Private companies and Bitcoin ETF issuers have also added significant amounts, with a combined total of 192,925 BTC purchased in the first four months...
Publicly listed companies have acquired approximately 157,957 Bitcoin (BTC) as of May 1, 2025, representing 96% of the 164,250 BTC projected to be mined throughout the year. Private companies and Bitcoin exchange-traded fund (ETF) issuers have also been active buyers, collectively purchasing 192,925 BTC in the first four months—surpassing the expected annual new supply by 17%.
Strategy leads public company acquisitions with 107,155 BTC, accounting for nearly two-thirds of public company holdings and over 65% of the new supply. This trend highlights Strategy’s prominent role, joined by various mining firms, financial institutions, and treasury reserve managers shaping corporate Bitcoin accumulation.
The institutional demand story extends back to 2024, when publicly listed companies purchased 331,141 BTC, with Strategy responsible for 257,250 BTC. During the same period, private companies sold 3,204 BTC while ETF issuers accumulated 518,018 BTC, bringing total acquisitions by these groups to 845,955 BTC. Compared to the 217,518.75 BTC mined in 2024, this corporate and institutional demand outweighed new supply by nearly four times.
This influx of balance-sheet-driven ownership is significantly reducing liquid BTC availability in secondary markets, as disclosed purchases now represent a substantial portion of the circulating supply. While ETF purchases have slowed in 2025, with under 35,000 BTC acquired so far compared to over 500,000 BTC in 2024, ETFs and corporate treasuries remain dominant holders locking large amounts into long-term storage.
The sustained institutional accumulation is not only absorbing the entire new supply but also drawing from existing reserves. This shift is reshaping Bitcoin’s ownership structure, progressively allocating greater shares of supply into long-term holdings by entities with multi-year investment horizons and lower liquidity turnover, underscoring strong and growing corporate confidence in Bitcoin’s future.