Bitcoin treasuries hold 1.3M BTC as Bitfinex flags funding risk

Bitcoin treasury companies have accumulated 1.3 million BTC across 180 listed firms, with Bitfinex questioning whether investor demand for discounted preferred shares could weaken the financing behind further purchases. Summary Strategy holds 848,517 BTC, representing roughly two-thirds of the corporate total cited by Bitfinex. STRC closed at $99.34 on Oct. 29, just below its $100 stated value. Strive purchased 6,182 BTC during Oct. 17–23, bringing its holdings to 43,000 BTC. Strategy’s approved dividend changes include daily record dates, with weekend payments grouped under settlement rules. Bitfinex’s Oct. 30 analysis examines how Strategy and Strive are using preferred shares to finance Bitcoin purchases while trying to keep those securities attractive to income investors. The exchange cites industry tracker SatsIntel’s count of 180 listed Bitcoin holders, whose combined holdings represent approximately 6.2% of Bitcoin’s eventual 21 million supply. Strategy accounts for 848,517 coins, leaving its treasury far larger than those of other listed buyers. Its central concern is the relationship between preferred-share prices and continued fundraising. According to the analysis, disco...