Q1 2026 Corporate Bitcoin Report
Abstract Corporate Bitcoin adoption in Q1 2026 became significantly more concentrated and uneven, with total public holdings increasing by 69,480 BTC—a figure entirely supported by Strategy’s 89,602 BTC accumulation. Excluding Strategy, the public sector was a net seller of approximately 20,100 BTC, primarily driven by a 25,375.9 BTC liquidation from Bitcoin miners. These miners, including […]
Corporate Bitcoin Adoption 2026 Report
Abstract Abstract: Corporate Bitcoin Adoption 2026 Report The 2025 shift from simple accumulation to the securitization of BTC demonstrates that corporate demand is increasingly financing-enabled via capital markets tools like ATMs, PIPEs, and convertibles. While public companies added approximately 494,000 BTC , the emergence of “Digital Credit“—specifically multi-series perpetual preferred equity—has bifurcated the market into […]
S&P Rating on Strategy: Overview, Implications, and Industry Direction
Abstract The S&P rating on Strategy shows that when bitcoin is fully deducted from adjusted common equity, total adjusted capital turns negative and the rating is forced to anchor on weak capitalization. That outcome is predictable under the 2024 RACF and 2025 hybrid criteria. The practical takeaway for issuers seeking higher credit ratings is to […]