Strategy’s Massive January: Saylor Drives 97% of New Bitcoin Buying

January marked a decisive turn in corporate Bitcoin accumulation, as Strategy’s aggressive buying spree redefined the market’s tempo and concentration. 

Rather than starting the year quietly, Strategy began buying at a breakneck pace, accounting for nearly all new additions among public companies this month. 

The January 2026 edition of the BitcoinTreasuries.net Corporate Adoption Report tracks this consolidation in detail, pairing treasury movements with spot market and credit data.

Our headline finding: Strategy’s 40,150 BTC purchase brought aggregate public‑company accumulation to late‑summer highs, underscoring how a single player is continuing to maintain its dominance even in weak markets.

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1. Strategy dominated Bitcoin treasury buying 

Strategy massively dominated January purchases as it bought 40,150 BTC in January, accounting for up to 97.5% of all public company additions for the month and single-handedly bringing sector-wide buying to levels last seen in summer.

Furthermore, we note that Strategy's aggressive Bitcoin accumulation in recent months aligns with its ambitious seven-year treasury projections detailed in its quarterly report.

Under the most aggressive growth model, Strategy projects 2.5x growth in Bitcoin per share by 2032 for 492,000 BPS in satoshis and 14% annual Bitcoin yield. Even the company’s lesser projections model significant growth.

2. Digital credit growth

Our new digital credit dashboard reveals key data focused on Strategy and Strive’s digital credit products, pointing to key growth across the board. 

Notably, we estimate $26.8 billion in cumulative volume, made up almost entirely by Strategy’s four main classes of preferred shares — STRC, STRD, STRK, and STRF — with Strive’s SATA accounting for just $765 million of the total volume.

We also observe digital credit prices returning toward par after dipping in November, including Strategy’s STRC briefly touching its $100 target, and yields trending upward since last summer, with Strive’s SATA reaching 15% yield.

3. Strategy buys 357 BTC on average per day

Many Bitcoin treasuries now have buying strategies that are months or years underway, which prompted us to calculate each public company’s average daily Bitcoin additions.

This points to a single leader: Strategy, which tops the charts with over five years of consistently large purchases averaging 357 BTC daily. 

The full report includes data for the remainder of public companies, finding that one-third of current Bitcoin holders add at least 1 BTC per day on average, while twenty public companies acquire at least 10 BTC per day on average.

This measurement does not mean that each company purchases Bitcoin daily – rather it’s a metric that shows a treasury’s size in a way that’s proportionate to its lifespan.

4.  Miners make up 11% of treasury holdings

Bitcoin miners remain a significant treasury category, accounting for about 11% of all public holdings overall and a noticeable slice of monthly additions.

In December and January, miners accounted for 7.3% and 3.6% of Bitcoin acquired by public and private treasuries. It should be noted that, when taking Riot and Bitdeer’s January sales into account, miner holding change was a net negative for the month.

Our experts write: “Bitcoin miners represent the treasury sector's most structurally advantaged accumulation model. ... When Bitcoin trades at more than $100,000 per coin and equity markets offer compressed mNAVs, miners acquire Bitcoin at operational costs while peers face hefty dilutive purchases when buying at spot.” 

“As a result, mining-based treasuries tend to maintain consistent periodic accumulation regardless of stock price, mNAV, or capital markets access.”

5. New buyers have added 880 BTC since October

We’ve added 21 public and private treasuries to our listings since October, joining the treasury  sector as we observe slowed buying activity.

That reduced growth includes fewer new entrants and fewer monthly buyers overall at year end.

But as activity falls across the board, with roughly 20-30 monthly buyers since November, new entrants’ modest engagement is made more substantial than it might otherwise have been.

As shown below, the top 15 new entrants have accumulated 880 BTC over the past four months — powering about 3% of non-Strategy buying during that time.

Special thanks to our partners:

• AnchorWatch. AnchorWatch makes Bitcoin ownership safer and easier by combining advanced custody expertise with industry-grade insurance. As a Lloyd’s of London Coverholder, it writes specialized policies that address digital-asset risks, giving clients trusted coverage and peace of mind. Learn more: AnchorWatch

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• The Hemisphere Foundation. Hemisphere develops open-source solutions designed to help treasury teams securely manage, deploy, and optimize their BTC holdings, with benefits of self-custody and Bitcoin native deployment. Learn more: The Hemisphere Foundation

• Orange Wheel Advisors. Orange Wheel Advisors is a strategic consulting firm that helps companies navigate Bitcoin’s impact on corporate finance and competitive strategy. With expertise spanning treasury management, payments, capital structure, mining, and investor communications, they provide executive education, tailored strategies, and execution support to guide businesses through the global monetary transition. Learn more: Orange Wheel Advisors

• o21 Solutions. o21 develops and implements Bitcoin-powered corporate strategy, transforming value chains with strategic expertise and tailored advisory services, with a focus on both Treasury and Operations - balance sheet accumulation, mining, and payments. Reduce cycle time through the corporate Bitcoin adoption journey through our pre-packaged or tailored engagements. Learn more: o21 Solutions

• Psalion. Psalion is a Bitcoin and digital-asset yield manager that offers institutional‑style investment strategies to professional investors, family offices, corporates, and private clients via separately managed accounts and yield funds. Learn more: Psalion

• Secure Digital Markets (SDM) provides unparalleled liquidity, execution speed, and bespoke customer service, making it the top choice for institutional investors seeking reliable digital asset trading solutions. With deep expertise in capital markets and strict regulatory standards, SDM stands out as the premier platform for all digital asset treasury teams looking to optimize their trading and treasury operations. Learn more: Secure Digital Markets (SDM)

• Stacking Sats Inc. Official IT partner at BitcoinTreasuries, Stacking Sats Inc via its subsidiary, Framework IT, is a managed IT services firm with a 17-year track record of providing best-in-class IT support, strategy, and cybersecurity, boasting high recurring revenue and long-term client contracts. It’s also one of the top 20 holders of Bitcoin among global private companies. Learn more: Stacking Sats Inc

• XCE. An executive recruitment group that combines a profitable recruitment business with a Bitcoin treasury strategy. The company turns over a decade of executive recruitment experience and four years of Bitcoin accumulation into a public Bitcoin‑powered growth engine, using a proven operating business to drive Bitcoin treasury accumulation. Learn more: XCE

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