The $17B Bitcoin illusion – How retail holders paid for corporate ‘innovation

Who bore the brunt of the Bitcoin DAT bubble burst?

Retail investors, who lost an estimated $17 billion after buying shares in MSTR, Metaplanet, and other Bitcoin DAT firms at inflated prices.

What’s the broader impact on BTC treasuries?

Overvalued DATs labeled as “bubbles” have begun to burst, putting Bitcoin’s institutional credibility at risk.

On paper, more and more companies adding Bitcoin [BTC] to their treasuries looks like a big win for investors, showing that BTC is being taken seriously as a “store of value” by institutions.

As evidence, Bitwise used hard data to highlight this trend.

During Q3, the number of corporate Bitcoin holders rose 38% to 172, as 48 new companies joined the club. Together, these companies purchased 176,000 BTC, bringing the total corporate stash to just over 1 million BTC.