Crypto treasuries are gobbling up Bitcoin at an astonishing rate, outpacing the supply by a 3-to-1 margin. Over the past six months, corporate digital asset treasuries (DATs) have added a staggering 260,000 Bitcoin to their balance sheets, while Bitcoin miners have only managed to mine around 82,000 coins. This equates to an expansion of approximately 260,000 BTC, worth roughly $25 billion at current market prices, or 43,000 BTC per month. The growth in treasuries highlights the steady expansion of corporate balance-sheet exposure to Bitcoin. But here's where it gets interesting: Bitcoin miners, which produce an average of 450 BTC per day, have only mined around 82,000 coins over the same period. This could indicate a favorable supply-demand dynamic at play. The lion's share of the 1.2 million BTC held in public and private company treasury balances is held by Michael Saylor's Strategy, which currently holds 687,410 BTC, or 60% of the total, worth around $65.5 billion at current market prices. The firm resumed its purchases this month after a brief hiatus, revealing that it acquired an additional 13,627 BTC between January 5 and 11 in its largest purchase since July. The second-largest corporate Bitcoin DAT is MARA Holdings with 53,250 BTC worth around $5 billion, according to Bitcoin Treasuries. But what's the future hold for Bitcoin? Spot Bitcoin exchange-traded funds (ETFs) could add to this supply-and-demand dynamic if the inflow trend continues this year. "Bitcoin's price will go parabolic if ETF demand persists long-term," said Bitwise chief investment officer Matt Hougan on Tuesday. "Since ETFs debuted in January 2024, they've been buying more than 100% of the new supply of Bitcoin. But the price hasn't gone parabolic, because existing holders have been willing to sell. If ETF demand persists — and I think it will — eventually, these sellers will run out of ammo." Spot BTC ETFs in the US saw net inflows of almost $22 billion in 2025, with BlackRock's iShares Bitcoin Trust (IBIT) taking the lion's share. However, they have had a mixed start to 2026 with current data showing $1.9 billion inflows and $1.38 billion outflows, resulting in a net aggregate inflow of just over $500 million. So, what's the takeaway? Crypto treasuries are gobbling up Bitcoin at an astonishing rate, and the future looks bright for Bitcoin's price if ETF demand persists.
