Analysis: Bitcoin's rally may prompt companies to resume buying, but financing conditions are unlikely to return to a looser environment.

According to Cointelegraph, Bitwise Head of Research Ryan Rasmussen stated that overall bitcoin purchasing by treasury companies slowed in Q3 2026. Strategy net acquired 1,666 BTC during the quarter, down from 83,901 BTC in Q2, while other listed companies net acquired 5,617 BTC, down from 45,725 BTC in the previous quarter. He expects corporate bitcoin buying to accelerate again as early as this year. Bitfinex Head of Derivatives Jag Kooner noted that if the premium of treasury companies' stock prices over their bitcoin holdings recovers, it may reignite equity-funded bitcoin purchases, but “a return to the indiscriminate funding frenzy of last year is unlikely,” with capital flowing preferentially to mature companies that possess scale, liquidity, and an established track record.