Several cryptocurrency companies and a French chipmaker sold large portions of their Bitcoin holdings during a sharp price crash this year [1].

This wave of liquidations signals a shift in corporate treasury strategies as firms prioritize immediate liquidity over long-term digital asset accumulation. The move highlights the volatility risks for public companies that have tied their balance sheets to the cryptocurrency market.

Companies including Core Scientific, MARA, Riot, Cango, and Bitdeer have dumped Bitcoin as prices declined [1]. The selling pressure was driven by the need to repay convertible debt and cover mounting losses [3]. Some firms are also liquidating assets to fund pivots toward AI-infrastructure projects [2].

French chipmaker Sequans Communications liquidated nearly 50% of its Bitcoin holdings [2]. This represents a significant reduction in the company's treasury to manage its financial obligations during the market downturn [2].

While many firms sold, others took a different approach. Strategy Inc. added 90,831 BTC to its holdings during the crash [3]. This move suggests a divergence in how firms are handling the 2026 market volatility; some are exiting to survive while others are buying the dip through financial engineering [3].

Public companies have collectively sold billions of dollars worth of Bitcoin in 2026 [3]. This massive sell-off has occurred despite previous commitments from some industry leaders. For example, MicroStrategy had previously vowed never to sell Bitcoin, though reports indicate the company is now reconsidering that strategy [1].

U.S.-based mining firms have been particularly affected by the price drop. The need for cash to maintain operations has forced several of these entities to move away from the "HODL" philosophy of holding assets indefinitely [1].

“Public companies sold billions of dollars worth of Bitcoin in 2026”

The mass liquidation of Bitcoin by public companies suggests that the 'corporate treasury' experiment with volatile crypto assets is facing a stress test. By selling to cover debt and fund AI pivots, these firms are acknowledging that liquidity and operational survival take precedence over the speculative growth of digital currencies. The contrast between those dumping assets and those like Strategy Inc. increasing their holdings indicates a growing divide in risk tolerance among institutional investors.