Corporate Bitcoin buying slows in Q3 as premiums narrow, analysts say

Corporate Bitcoin treasury buying slowed significantly in Q3 2024, with Strategy adding a net 1,666 BTC and other public companies adding 5,617 BTC, down from 83,901 BTC and 45,725 BTC in Q2 respectively. Analysts attribute the slowdown to narrowing or vanished premiums, which previously allowed companies to issue shares at a profit to buy more Bitcoin. Ryan Rasmussen of Bitwise expects buying to re-accelerate if Bitcoin rallies and premiums return, but notes a return to last year's indiscriminate capital raising is unlikely. Jag Kooner of Bitfinex says established players with credible financing structures are likely to attract capital first if buying resumes.