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The bitcoin numbers from March are hard to ignore and are bullish at first glance. Public and private companies collectively added 47,435 BTC to their treasuries last month — worth roughly $3.2 billion at month-end prices — but strip away one name from the ledger and the picture shifts dramatically.
Nearly every one of those coins was bought by Michael Saylor’s Strategy. Everyone else, collectively, is in retreat, according to bitcointreasuries.net March report shared with Bitcoin Magazine.
That divergence is becoming the defining story of corporate Bitcoin adoption in 2026. Strategy purchased 44,377 BTC in March alone, including one of its largest-ever single-week…
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