Key Takeaways
- Despite heavy buying from corporate whales in the first quarter, BTC price dipped 12%, marking the worst first quarter in seven years.
- CryptoQuant data indicates that heavy selling by long-term holders nullified corporate BTC buying.
- BTC’s price is currently around $85,000, down 12% from the start of the year.
Public companies like Strategy and Tether bought 91,781 Bitcoin in the first quarter of 2025. However, despite the continued BTC purchases, Bitcoin’s price recorded its worst first quarter in seven years.
The price decline in BTC has become a cause of concern among investors and analysts who had predicted the bull run to continue towards the end of 2025.
Top Corporate Whales Hoarding Bitcoin
According to data from CryptoQuant, Strategy, formerly known as MicroStrategy, was the biggest Bitcoin buyer, adding 81,785 BTC in Q1 2025 and spending over $8 billion.
Tether was the second largest buyer, with 8,888 BTC purchased on the last day of the quarter, worth $750 million.
Other corporate buyers include Metaplanet with 2,285 BTC, Semler Scientific with 1,108 BTC purchase, and The Blockchain Company with 605 BTC buy,
While large corporate whales like Strategy continue to buy every other week, and Tether has set 15% of its profits for BTC purchases each quarter, more public firms are issuing debts and stock sales to add more BTC to their treasury.
Marathon Digital has planned a $2 billion stock sale to fund more BTC purchases, while GameStop will issue a $1.3 billion convertible note offering to start buying Bitcoin.
Despite the growing number of corporate buyers scooping nearly 100,000 BTC from the market, the price of BTC fell over 12%. CryptoQuant analysis suggests that heavy selling by long-term holders fueled the price decline.
Long Terms Holders and ETF Outflows Added Selling Pressure
The CryptoQuant data indicates that despite heavy buying from cooperatives, this was nullified by significant outflows from exchange-traded funds (ETFs) and heavy selling by long-term holders.
The data indicates that long-term holders sold a total of 178,000 BTC, nearly double the amount bought by corporate firms. The heavy selling pressure from these long-term holders offset the corporate buys while increasing bearish sentiment in the market.
On the other hand, Bitcoin ETFs recorded a massive $4.5 billion outflow during the same time frame.
The increased outflow and heavy selling from long-term holders indicate that despite bullish sentiments fueled by President Donald Trump’s pro-crypto decisions, the macro factors were more prominent in the short term.
The Bitcoin price was $94,700 at the start of the new year and is currently down by 12%. BTC is currently trading at $84,973, trying to break past the $85,000 resistance.
Prashant Jha is a seasoned crypto journalist based in Delhi, India, with a Bachelor’s Degree in Computer Science Engineering. Passionate about the evolving world of blockchain and cryptocurrencies, he has been a dedicated voice in the industry since 2018. Prashant’s expertise lies in regulatory reporting, where he unravels complex legal and financial developments with clarity and precision. Before joining CCN in 2024, he honed his craft at Cointelegraph, establishing himself as a trusted name in crypto journalism.
His coverage spans major industry events, including the high-profile collapses of FTX, Three Arrows Capital (3AC), and LUNA, offering readers insightful analyses of their regulatory and market implications. Prashant’s technical background enables him to bridge the gap between intricate blockchain technology and its real-world applications, making his work accessible to novices and experts.
Beyond his professional pursuits, Prashant is an avid music enthusiast, often exploring diverse genres to unwind. A sports lover, he has a particular passion for cricket and frequently engages in discussions about the game. His multifaceted interests and sharp journalistic instincts make him a valuable contributor to CCN, where he continues shaping the crypto landscape's narrative.
