Treasuries buy more Bitcoin: Strategy 950 BTC, Strive 1,355
Strategy and Strive bought about $184 million of Bitcoin on Monday, and US spot ETFs drew $433 million on 18 September, steady demand linked to the rally.
Rising prices have not put corporate buyers off. On Monday, Strategy (formerly MicroStrategy) bought around 950 BTC for about $76 million. Strive added roughly 1,355 BTC, worth about $107.7 million. Together the two purchases came to nearly $184 million.
What is a Bitcoin treasury company?
A Bitcoin treasury company is a listed business that holds Bitcoin on its balance sheet as a main reserve asset, and often raises money by issuing shares or debt specifically to buy more. Investors in its shares get indirect exposure to Bitcoin, plus the risks of the company itself, such as its debt and how it raises capital.
ETF money returns
US spot Bitcoin ETFs also saw fresh demand, with net inflows of about $433 million on 18 September. That broke a run of outflows earlier in the month.
A spot Bitcoin ETF is an exchange-traded fund that holds actual Bitcoin, so investors can gain exposure through an ordinary brokerage account. Net inflows mean more money came into these funds than left them on that day.
Analysts cite this steady buying from institutions and treasury companies as one reason the market has held up, even after the Federal Reserve raised its policy rate to 4.00%. Higher interest rates usually make risky assets less attractive, because safer investments start paying more.
How treasury demand affects price
- When treasury firms buy, and when ETFs create new shares, coins are taken off the open market. That reduces the supply available to everyone else.
- These buyers usually hold for the long term, so their demand tends to be "stickier" than leveraged trading flows.
- That can change. If a treasury company's shares fall below the value of the Bitcoin it holds, its appetite for more coins can weaken and even go into reverse.
The last point is the key one. Many treasury firms fund purchases by selling new shares. That works while the shares trade above the value of the Bitcoin behind them. When they trade below it, issuing shares to buy Bitcoin no longer makes sense for existing shareholders.
A tailwind, not a safety net
Accumulation by treasuries supports the trend but does not put a floor under the price. Several of these companies already trade near, or below, the net value of their Bitcoin holdings, and a long downturn could turn today's buyers into tomorrow's sellers. Treat the buying as background to the trend, not as a reason to drop your risk limits.
What it means for Indian investors
In most cases, Indians cannot buy US spot Bitcoin ETFs or these treasury stocks directly. Their flows still matter, because they move the same global spot price that INR trading pairs on Indian exchanges follow. Use them as a gauge of sentiment, not as a signal to take bigger positions. Our guide on investing in a Bitcoin ETF from India explains the routes and tax that apply.
If you buy Bitcoin directly on an Indian exchange instead, gains are taxed at a flat 30%, 1% TDS is deducted when you sell, and losses cannot be set off against other income. See our crypto tax guide.
What to watch next
- Whether daily ETF flows stay positive or slip back into outflows.
- Further purchase announcements from treasury companies.
- How treasury company shares trade relative to the value of their Bitcoin holdings.
This is not financial advice.
This article is AI-assisted, educational and general in nature. It is not financial advice and never a guarantee of profit. Every trade is at your own risk on your own exchange. See our risk disclosure and editorial policy.
