As the price of bitcoin continues to decline, public companies and governments are increasingly selling off their cryptocurrency reserves. This trend reflects a broader strategy to stabilize balance sheets and address financial pressures.
Empery Digital, a firm that had built a significant bitcoin treasury, announced the sale of 370 BTC at an average price of $66,632, yielding approximately $24.7 million. The company, which had amassed nearly 4,000 BTC since July 2025, now holds 2,989 BTC after using part of the proceeds to pay off a term loan and release collateral.
Similarly, Genius Group, focused on AI and bitcoin education, has completely liquidated its bitcoin holdings. After selling its last 84 BTC to settle $8.5 million in debt, the company indicated it would consider rebuilding its treasury when market conditions improve.
This liquidation trend is not limited to smaller firms. Riot Platforms, a major player in the bitcoin mining sector, has also been offloading its bitcoin assets. Recent blockchain data reveals that Riot sold 500 BTC for around $34.13 million as it shifts its focus toward AI and high-performance computing. In late 2025 alone, Riot sold approximately $200 million worth of bitcoin, reducing its holdings from a peak of over 19,000 BTC to about 17,500 BTC.
On a governmental level, Bhutan has been reducing its bitcoin reserves as well. The country has sold a total of 3,103 BTC, including a significant liquidation of 375 BTC on March 30. Bhutan had built its holdings through state-supported mining operations, reaching a high of over 13,000 BTC in October 2024.
Despite these sell-offs, public companies still retain a substantial amount of bitcoin, with around 1,164,800 BTC held collectively, accounting for over 5% of the total bitcoin supply of 21 million. As of the latest data, bitcoin is trading at approximately $66,500, reflecting a decline of over 2% since midnight UTC.
Public companies and governments are selling off bitcoin holdings in response to falling prices, raising concerns about market stability. Despite these sell-offs, a significant amount of bitcoin remains in public treasuries.