People who rushed into Bitcoin. Over the last couple of years the exits have been trending up and this is not a great sign for the market.
Public companies, once viewed as long-term holders, are increasingly selling bitcoin as prolonged price weakness weighs on balance sheets and strategic plans.
take it Empre Digital (EMPD), which announced Wednesday that it sold 370 BTC at an average price of $66,632, generating $24.7 million, leaving the company with 2,989 BTC. The firm used part of the proceeds to fully pay off its outstanding term loan and also released about 1,800 BTC that had previously been held as collateral.
Empre Digital started building its Bitcoin treasury in July 2025 and reached a peak position of around 4,000 BTC. The firm’s shares are down 75% from their 2025 high of $15.80.
Genius Group (GNS), an AI-powered, bitcoin-focused education company that held up to 440 BTC in March last year, has sold its entire holdings. Recently, he liquidated his last 84 BTC to pay off an $8.5 million loan. The company said it will resume building its bitcoin treasury when it believes market conditions are more favorable.
This trend is not limited to mid-level players. Riot Platforms (RIOT), one of the largest publicly traded bitcoin mining companies in the US, is reportedly selling, according to blockchain data. Lookonchain.
The company reportedly moved 500 BTC for about $34.13 million on Wednesday as it continues to use its bitcoin treasure to fund AI and high-performance computing, a strategy increasingly seen in the mining industry.
Riot sold nearly $200 million worth of bitcoins in the last two months of 2025. Rather than a single date launch for treasury strategy, Riot Platforms has steadily accumulated Bitcoin through its mining operations, reaching holdings of over 19,000 BTC. The company now holds approximately 17,500 BTC.
Meanwhile, the Bhutanese government continues to reduce its bitcoin holdings, selling a total of 3,103 BTC. A single transaction on March 30 alone is said to have wiped out 375 BTC, reducing its position further. Glass node data. The Bhutanese government built its bitcoin holdings over the years through state-backed mining operations, reaching a peak of over 13,000 BTC in October 2024.
While the recent trend of liquidations is certainly disappointing for bulls, all is not lost yet.
Public bitcoin treasury companies still hold about 1,164,800 BTC, according to BitcoinTreasuries.net. This is more than 5% of the total BTC supply of 21 million.
As of writing, bitcoin changed hands at $66,500, down more than 2% from midnight UTC, according to CoinDesk data.
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