Bitcoin has fallen roughly 50% from its peak of around $126,000 in October 2025, forcing companies that accumulated it in their treasuries to sell holdings and shift away from the asset class. Strategy (formerly MicroStrategy) sold approximately 3,620 BTC and authorized further sales, remaining the largest corporate holder with over 840,000 BTC as of July 2026. Satsuma Technology proceeded with the full liquidation of its 668 BTC, triggering its delisting from the London Stock Exchange. Sequans Communications sold 1,025 BTC and nearly 80% of its remaining holdings to repay convertible debt. These companies are redirecting resources toward artificial intelligence infrastructure, but the market views these pivots as desperation moves rather than strategic opportunities, and their stock prices continue to decline.
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