The biggest difference in this cycle compared to the past is that the BTC buying pattern, once dominated by on-chain whales and retail investors, is gradually giving way to new market players — more and more companies and institutions are quickly entering the market, from BTC spot ETFs to strategic reserve legislation, from MicroStrategy to Metaplanet, the large-scale positions taken by traditional capital are continuously reshaping the price curve and influencing market sentiment.
Taking MicroStrategy as an example, as of the end of May 2025, it has accumulated over 580,000 BTC, with a total investment of over $40.6 billion. This year, it has frequently increased its positions, with single purchases often exceeding $100 million. If such position-building dynamics cannot be tracked in real-time, important signals in the market can easily be overlooked.
Some friends are struggling with the lack of effective tools and resort to manually tracking various companies and capital buying BTC data. Such operations are not only time-consuming and labor-intensive but also cannot be updated synchronously. While some platforms can provide professional data, the high usage costs deter many.
(Figure 1)
To address this pain point, I recommend to my friends the newly released "BTC Treasuries Dashboard" by SoSoValue, a real-time observation tool (as shown in Figure 1). It is currently the only free data platform in the industry that supports "enterprise-level BTC holding real-time tracking + multi-dimensional visualization." All its data is sourced from corporate announcements, financial reports, and official statements, and it synchronizes immediately after the information is released, avoiding the lagging mode of traditional platforms that rely on "scheduled refreshes."
By opening the dashboard, you can quickly understand: which companies are increasing their holdings, the scale and cost of purchases, as well as the distribution situation across different countries and industries (mining / non-mining). I can briefly introduce its advantageous features:
(Figure 2)
🚩Data is verifiable: The bottom of the page prominently states "All information comes from official documents," and each line in the leaderboard includes a link to the original announcement, facilitating secondary verification (e.g., MicroStrategy's 10-K report link).
🚩Clear and user-friendly structure: The bottom card displays core indicators such as listed companies holding BTC, latest purchase quantities, holding costs, holding value, and cash reserves (as shown in Figure 2).
(Figure 3)
🚩Real-time synchronization: When a company updates its holdings or releases a new purchase announcement, the Dashboard immediately refreshes the Weekly Net Inflow indicator; the data of net inflow of $878.29M and 8,394 BTC on May 19 is the result of minute-level writing triggered by the event.
From the current data, all listed companies hold a total of 630,000 BTC, accounting for 3.17% of the circulating supply of BTC; among them, MicroStrategy alone holds 580,250 BTC, with an average holding cost of $69,979, accounting for 92% of the total holding share. The second is Tesla, holding a total of 11,509 BTC. (Will update after tonight's data comes out)
The amount that MicroStrategy buys each time varies, but each purchase is almost not significantly correlated with the secondary market price of BTC, indicating that most listed companies complete the settlement through over-the-counter trading. In the short term, the effect is to boost market confidence and lock in a large amount of liquidity. In the long term, as more companies like MicroStrategy join, it has a positive driving effect on continuously raising the lower limit of BTC prices.
(Figure 4)
🚩Three perspective switches: leaderboard + map + structural chart, supports viewing "mining / non-mining";
1. Leaderboard: Lists companies and holding details line by line;
2. Map: Bubble chart visually presents regional concentration;
3. Structural chart: Weekly net inflow bar chart + cumulative holding curve;
Through the above four major feature functions, the BTC Treasuries Dashboard provides a credible, timely, and easy-to-use data tool for analyzing institutional buying trends, with the key point being completely free and open! It is an important assistant for friends writing research reports, creating popular science content, and observing market sentiment.
Product link: https://t.co/xLgKQCyUzB
SoSoValue has a series of actions and products launching soon, so interested friends can keep an eye on it!
