crypto

Yaël Bizouati-Kennedy2/7/25

The list of corporate bitcoin stockpilers continues to grow

It was a busy news week for bitcoin — though the price didn’t budge much, hovering in the $97,000 range for most of the week.

There was the announcement of the planned first-ever bitcoin ETF by a US president, and the macro (and very orange) rebranding of MicroStrategy to Strategy, which remains the largest corporate bitcoin holder by far. Soon after came the company’s earnings release and its aggressive bitcoin plans for 2025. And let’s not forget Trump’s “crypto czar” David Sacks’ first and much-anticipated (but fairly tepid) press conference.

Companies with bitcoin reserves also kept busy continuing to build their stockpiles. We added two new bitcoin stockpilers to our ongoing list:

Semler Scientific said it bought 871 bitcoin for $88.5 million between January 11 and February 3 “with proceeds generated from its January 2025 senior convertible notes offering and monetization of a portion of its minority investment in Monarch Medical Technologies.”
BitFuFu, a bitcoin mining company, released its January operations update, noting that as of January 31, it held 1,742 bitcoins. “No additional BTC were acquired on the secondary market in January 2025,” according to the press release.

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Businessman pulling a dollar sign

crypto

Claire Yubin Oh11/25/25

BlackRock’s IBIT on track for its worst month of net outflows, as investors yank $2.3 billion from the bitcoin ETF in November

BlackRock’s iShares Bitcoin Trust ETF, the world’s largest bitcoin fund, is heading for its worst month of outflows since it launched in January 2024.

Investors have pulled over $2.3 billion (net) throughout November so far. The jitters come as bitcoin grapples with its worst downturn since 2022, when the entire crypto world shook following the fall of Sam Bankman-Fried’s FTX — bitcoin has dropped more than 40% from its October high as of Monday’s close.

With their soaring popularity redefining and legitimizing cryptocurrencies at an institutional level, spot bitcoin ETFs have become a key barometer of wider investor sentiment surrounding the digital currency — as well as risk assets more broadly.

Notably, spot bitcoin ETFs like BlackRock’s iShares Bitcoin Trust tend to see their inflows accelerate with rising prices, and amplify falling prices when outflows become dominant. Citi Research, cited by Bloomberg, found that this feedback loop sees a ~3.4% price drop for every $1 billion pulled out from bitcoin ETFs.

Related reading: Bitcoin’s plunge produces technical signal that implies 60% more downside to come

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