Corporate BTC buying fell to yearly low in October

Companies holding Bitcoin reserves purchased approximately 14,400 BTC, worth around $1.4 billion, in October, marking the lowest monthly buying volume this year, DL News reported, citing data from Bitcointreasuries. This figure represents a roughly 63% decrease from the 38,035 BTC acquired in September. The report also noted that for major Bitcoin-holding companies like Strategy and Metaplanet, the ratio of market capitalization to the value of their BTC holdings (mNAV) has fallen from 1.8x in May to 1.1x in October, effectively eliminating any premium and signaling worsening investor sentiment. Industry experts attribute the trend to corporate earnings pressure, macroeconomic uncertainty, and increased Bitcoin price volatility.