Companies that accumulated Bitcoin (CRYPTO: $BTC) on their balances sheets as part of a cryptocurrency treasury strategy are now beginning to unwind their holdings.
Several public companies that were seen as long-term holders of BTC are selling their crypto as prolonged price weakness hurts balance sheets and financial results.
Empery Digital (NASDAQ: $EMPD) just announced that it sold 370 Bitcoin at an average price of $66,632 U.S., generating $24.7 million U.S. and leaving the company with 2,989 BTC.
The company used the proceeds from the Bitcoin sale to repay loans.
Another company, Genius Group (NYSE: $GNS), an A.I.-powered education company that held up to 440 BTC, has completely sold its position.
Analysts note that it is not just small players who are selling their Bitcoin.
Crypto miner Riot Platforms (NASDAQ: $RIOT) is also selling its BTC stockpile as it pivots to focus more on artificial intelligence (A.I.) data centres.
Most recently, Riot Platforms sold 500 Bitcoin for $34.13 million U.S. as it taps its BTC treasury to fund its pivot into A.I. and high-performance computing (HPC).
Analysts warn that sales could accelerate in coming months should Bitcoin's price remain depressed or fall further.
According to BitcoinTreasuries.net, public Bitcoin treasury companies still hold 1.16 million BTC, which is more than 5% of the total Bitcoin supply of 21 million tokens.
Bitcoin is currently trading at $65,900 U.S.
COMTEX_476447344/2797/2026-04-02T14:51:03