The amount of Bitcoin held on cryptocurrency exchanges has dropped to its lowest point in over six years, a shift largely attributed to increased buying activity from publicly listed companies, according to a recent update from Fidelity Digital Assets.
In a post shared on X (formerly Twitter), Fidelity noted, “Bitcoin reserves on exchanges have been steadily decreasing, largely due to acquisitions by public companies — a trend we expect to continue gaining momentum.”
Currently, Bitcoin exchange balances have fallen to around 2.6 million BTC, marking the lowest level since November 2018. Since the U.S. presidential election, over 425,000 BTC have been withdrawn from exchanges — a movement commonly linked to long-term holding behavior rather than speculative trading.
During this same period, nearly 350,000 BTC were purchased by companies listed on stock exchanges, Fidelity stated.
Fidelity Digital Assets, a division of the $5.8 trillion financial giant Fidelity Investments, has been involved in the crypto space since 2018 — well before digital assets gained mainstream institutional attention. The firm is also behind the Fidelity Wise Origin Bitcoin Fund, one of the first 11 spot Bitcoin ETFs to launch in the United States.
Corporate Accumulation Led by Strategy
While many companies have jumped into the Bitcoin market, business intelligence firm Strategy — co-founded by Bitcoin advocate Michael Saylor — has led the charge. Since November, Strategy has added 285,980 BTC to its balance sheet, representing about 81% of the total Bitcoin acquired by public firms in that timeframe. Their most recent purchase of 6,556 BTC was revealed on April 21.
Beyond the U.S., several Asian corporations are adopting similar Bitcoin-focused treasury strategies. Japanese firm Metaplanet now holds 5,000 BTC and aims to double that number by the end of the year, according to CEO Simon Gerovich. Meanwhile, Hong Kong-based HK Asia Holdings is preparing to raise approximately $8.35 million to expand its Bitcoin holdings.
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