Bitwise Research Head Ryan Rasmussen said that if the price of Bitcoin (BTC) recovers, corporate cryptocurrency purchases could accelerate again from the end of the year. Rasmussen noted that there was a significant slowdown in Bitcoin purchases for corporate balance sheets in the third quarter.
According to data shared by Rasmussen, Strategy’s net Bitcoin holdings decreased from 83,901 BTC in the second quarter to 1,666 BTC in the third quarter.
Net Bitcoin purchases by other publicly traded companies also fell from 45,725 BTC to 5,617 BTC during the same period. The data indicated a significant slowdown in corporate Bitcoin accumulation activity compared to the previous quarter.
Rasmussen stated that if the Bitcoin price rises again, corporate buying activity could revive in the period extending from late 2026 to 2027.
According to a Bitwise executive, if the shares of companies holding Bitcoin start trading at a premium again compared to the value of their BTC holdings, further Bitcoin purchases may become possible.
However, Rasmussen stressed that corporate purchases are not the only factor supporting Bitcoin demand. He noted that even without a new wave of institutional buying by the end of the year, various other factors could still drive a recovery in Bitcoin’s price.
In this context, he drew attention to the demand for spot Bitcoin exchange-traded funds (ETFs).
According to data cited by Rasmussen, US spot Bitcoin ETFs recorded a total net capital inflow of $6.4 billion in the third quarter of 2026.
A Bitwise executive stated that continued ETF demand could support a potential recovery in Bitcoin’s price. Rasmussen’s assessment suggests that a renewed acceleration in corporate purchases could be a positive development, but the Bitcoin market is not solely dependent on this source of demand.
*This is not investment advice.
