According to data from River, companies and funds are gobbling up bitcoin at a rate that far outstrips new supply from miners. If these flows hold, the market’s available coins could shrink quickly, pushing liquidity into the hands of a few big buyers.

Institutions Outpace Miners

Reports have disclosed that publicly traded bitcoin treasury firms and private businesses bought about 1,755 BTC per day on average in 2025. Exchange-traded funds and other investment vehicles added roughly 1,430 BTC per day.

A Potential Supply Shock Looms

Miners’ output has been fairly steady, but when demand beats supply by multiples, market dynamics change. Analysts are now pointing to the possibility of tighter market conditions if exchange reserves keep dropping while institutions continue to hold.

Some market watchers say that such an imbalance could become a bullish trigger for price. Others warn that thin liquidity on exchanges can make prices volatile when flows reverse.

Businesses are absorbing bitcoin at 4x the rate it is mined. pic.twitter.com/41N8KN6sen

— River (@River) August 27, 2025

Who Is Buying And How Much

Reports show that bitcoin treasury companies acquired 159,100 BTC in Q2 2025 alone. Businesses now hold over 1 million BTC in total.

Strategy, led by Michael Saylor, stands out. Based on publicly available figures, Strategy holds 632,457 BTC in its corporate reserve, making it one of the largest single holders in the market.