Genius Group empties Bitcoin treasury, joins sell‑off
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- Genius Group reduced its Bitcoin holdings to zero, selling the entire treasury.
- MARA Holdings sold 15,133 BTC for roughly $1.1 billion in March, cutting its treasury to 38,689 BTC and placing it third behind Twenty One Capital.
- MARA Holdings used the proceeds to repurchase about $1 billion of convertible senior notes, with the remainder allocated to general corporate purposes.
- Bitdeer liquidated its full 943 BTC stash and sold newly mined coins, bringing its corporate Bitcoin holdings to zero in February.
- Cango Inc. sold 4,451 BTC, and GD Culture Group authorized the sale of part of its 7,500 BTC treasury in February.
- Strategy (Michael Saylor’s firm) continued buying Bitcoin, purchasing 1,031 BTC on March 23 and accumulating 89,581 BTC worth about $6.1 billion this year.
- BitcoinMiningStock noted that without Strategy, the rest of the ecosystem’s Bitcoin buying pace has collapsed.
Why it matters: Corporate treasuries are converting Bitcoin to cash, shrinking the overall corporate Bitcoin supply and freeing funds for debt repayment, while Strategy’s continued purchases concentrate the remaining corporate Bitcoin in a single holder, reshaping the market’s ownership distribution. This shift reduces exposure to crypto volatility for many firms but amplifies the concentration risk in Saylor’s holdings.
