River Report: Businesses Now Own 8% of All Bitcoin

Businesses now own 7.8% of bitcoin’s total supply, according to a new report from River, which found that companies remain the largest buyers of the asset in 2026 even as their pace has slowed.

Business buying slows down

River said businesses have added 193,000 BTC so far this year, lifting their combined holdings to 1.64 million BTC and making them the top buyers for the second year in a row.

Inflows, however, have totaled $15.7 billion, roughly two-thirds less than at the same point in 2025.

Explaining the slowdown, River wrote:

“The euphoria around Bitcoin Treasury Companies has faded; large purchases come from just two companies: Strategy and Strive.”

Strategy and Strive added 197,000 BTC between them, more than 100% of net business purchases, and Strategy alone now holds 848,000 BTC.

Every other bitcoin treasury company combined bought just 8,000 BTC, as River noted the long tail of these firms has lacked investor demand.

Miners turn into sellers

Large bitcoin miners sold 32,800 BTC this year, reversing years of steady accumulation.

River explained the shift:

“This is largely due to the industry-wide pivot towards building out AI infrastructure, which requires large capital expenditures.”