Those who rush into Bitcoin Investments of the past two years are now heading towards exit, which is not a good sign for the market.
Publicly traded companies once viewed as long-term holders are increasingly selling Bitcoin as prolonged price weakness affects balance sheets and strategic plans.
Take Empire Digital (EMPD) as an example. The company announced on Wednesday that it sold 370 BTC at an average price of $66,632, generating $24.7 million in proceeds. The company owns 2,989 BTC. The company used part of the proceeds to fully repay the outstanding term loan and released approximately 1,800 Bitcoin previously held as collateral.
Empery Digital began building its Bitcoin vault in July 2025 and accumulated a peak position of approximately 4,000 BTC. The company’s stock is down 75% from its 2025 all-time high of $15.80.
Genius Group (GNS), an AI-powered, Bitcoin-focused education company that held 440 Bitcoin last March, has completely sold off its holdings. Recently, it liquidated its last remaining 84 Bitcoins to pay off $8.5 million in debt. The company said it will resume building Bitcoin vaults when it deems market conditions to be more favorable.
This trend isn’t limited to mid-sized players. Riot Platforms (RIOT), one of the largest publicly traded Bitcoin mining companies in the United States, has also been selling Bitcoin, according to blockchain data tracked by Lookonchain.
The company allegedly moved 500 Bitcoin for about $34.13 million on Wednesday, as it continues to use its Bitcoin funds to fund its shift toward artificial intelligence and high-performance computing, a strategy that is increasingly common in the mining industry.
Riot sold approximately $200 million worth of Bitcoin in the last two months of 2025. The Riot platform has been accumulating Bitcoin through its mining operations, rather than adopting a single start date funding strategy, and has reached peak holdings of over 19,000 BTC. The company currently holds approximately 17,500 Bitcoins.
At the same time, the Bhutanese government continued to reduce its Bitcoin holdings, selling a total of 3,103 Bitcoins. According to data from Glassnode, one transaction on March 30 alone is said to have liquidated 375 BTC, further reducing its position. The Bhutanese government has accumulated Bitcoin holdings through state-backed mining operations over the years, peaking at more than 13,000 Bitcoin in October 2024.
While the recent liquidation trend has certainly disappointed the bulls, it’s not over yet.
According to BitcoinTreasuries.net, public Bitcoin finance companies still hold approximately 1,164,800 BTC. This represents more than 5% of the total Bitcoin supply of 21 million.
At the time of writing, Bitcoin was changing hands at $66,500, down more than 2% since midnight UTC, according to CoinDesk.
Read more: MARA Holdings shares rise 10% after selling $1.1 billion in Bitcoin to fund debt buybacks
