Corporate Bitcoin Exposure Plunges 37%, CEO Claims

Edgen Crypto

·Feb 23 2026, 13:49

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Key Takeaways

A prominent Bitcoin critic has claimed that corporate holdings of the digital asset have seen a historic decline, raising questions about its viability as a treasury reserve asset. The alleged downturn suggests companies may be unwinding their positions, potentially creating headwinds for the Bitcoin market.

Corporate holdings allegedly fell by more than 37% over the past three months, according to SwanDesk CEO Jacob King.
The decline was described as the “largest downturn in history”, challenging the institutional adoption narrative.
This development could erode investor confidence and lead to increased selling pressure on BTC if the trend continues.

Corporate Exposure Drops 37% In Three Months

Corporate balance sheets are shedding Bitcoin at a record pace, according to SwanDesk CEO Jacob King. In a post on social media platform X on February 23, the well-known Bitcoin critic claimed that corporate exposure to the asset has fallen by over 37% in the last three months. This assertion points to a significant reversal of the corporate treasury adoption trend that gained momentum in previous years.

‘Failed Experiment’ Narrative Challenges BTC’s Treasury Role

King framed the sharp reduction as a historical shift, calling it “the largest downturn in history.” The claim fuels a bearish narrative that holding Bitcoin as a corporate treasury asset has been a 'failed experiment' due to its volatility. This perspective challenges the long-term viability of Bitcoin for institutional treasuries and could dampen investor sentiment. If verified, a sustained corporate exit could introduce significant selling pressure and undermine market confidence in Bitcoin's role as a reliable store of value for large entities.