Leading on-chain data provider CryptoQuant has revealed a shocking trend that public companies bought a massive 91,781 BTC in Q1 2025. Yet, despite this strong buying activity, Bitcoin’s price dropped from $94,400 to $82,500, a 12% decline. So, who’s buying? Why is Bitcoin falling? And what’s next for the market?
One of the most unexpected buyers this quarter was Tether, the company behind the world’s largest stablecoin, USDT. Tether added 8,888 BTC in Q1, bringing its total holdings to 92,646 BTC. While Tether’s involvement in Bitcoin is not new, this latest addition has raised eyebrows in the crypto space.
Meanwhile, Strategy, previously MicroStrategy, already known as the biggest corporate Bitcoin holder, continued its aggressive buying. The company purchased 81,785 BTC in Q1, spending over $8 billion to increase its already massive Bitcoin holdings.
Other companies also joined the trend:
While these companies have already made huge purchases, CryptoQuant notes that others are preparing to buy more Bitcoin. Marathon Digital, a well-known Bitcoin mining firm, is planning a $2 billion stock sale to fund more BTC purchases.
Similarly, GameStop has proposed a $1.3 billion convertible note offering, signaling its intent to incorporate Bitcoin into its strategy.
Despite corporate buying, Bitcoin’s price still fell by 12% in Q1. CryptoQuant points to two key factors that may have driven the decline. Firstly, the long-term holders sold off a massive 178,000 BTC during the quarter, adding significant sell pressure that outweighed corporate purchases.
Another major factor was the outflows from Bitcoin ETFs. In Q1, around $4.8 billion flowed out of Bitcoin ETFs, adding even more downward pressure on the market.
CryptoQuant suggests that Bitcoin could recover, but only if selling pressure slows down. With more companies preparing to buy, the market could turn bullish again in the coming months.
The big question now is whether corporate buyers can absorb the ongoing sell pressure – or if Bitcoin’s price will continue to struggle. The next quarter will be crucial for the crypto market.
As per Coinpedia’s BTC price prediction, 1 BTC could peak at $169,046 this year if the bullish sentiment sustains.
With increased adoption, the price of 1 Bitcoin could reach a height of $610,646 in 2030.
Projecting a 10-year growth in a volatile asset like Bitcoin seems a far-stretched notion. The BTC price is expected to cross $600,000 by 2030. With global adoption, Bitcoin could be worth 1 million dollars.
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