Bitcoin’s rally slowed in August as corporate accumulation decreased significantly. Tracked treasury entities added 47,718 BTC last month, down from over 100,000 BTC in July. Total holdings across public companies, private firms, governments, and ETFs reached 3.68 million BTC, valued at $400 billion. Bitcoin hit an all-time high in mid-August but dropped by over 11.5% by month-end.

Despite aggressive fundraising announcements totaling over $15 billion by treasury firms, actual purchases did not reflect the commitments. Public company holdings surpassed 1 million BTC for the first time, marking a significant milestone in August. Healthcare company KindlyMD made the second-largest purchase of the month with a 5,744 BTC acquisition worth $679 million.

Crypto exchange Bullish joined the treasury rankings after its August IPO, holding 24,000 BTC valued at $2.6 billion. The aggregate value of tracked treasuries fell from $428 billion in July to $400 billion in August as bitcoin’s price decreased to $108,695 by the end of the month. CEO Tom Farley highlighted the growing interest of institutional investors in bitcoin.

Read more at Yahoo Finance: Corporate Bitcoin Buying Slowed in August as Treasuries Add $5B