ADOPTION REPORT: We asked about digital credit’s price drop – 84% kept holding

The BitcoinTreasuries.net June Corporate Adoption Report is now available.

This month, we find that our audience is broadly confident in digital credit even though prices fell significantly below their $100 par value in June. Our headline: the majority of our audience owns digital credit, and 84% of those holders didn’t sell at all during the downturn.

Plus, 52% of all respondents bought STRC, SATA, or both after June 18 and below par, and more than half of all respondents don’t see the price drop as a significant issue.

That news comes alongside other growth. Monthly volumes for STRC and SATA broke new records, topping $10 billion combined. Meanwhile, publicly-traded treasuries added almost 9,000 BTC before sales in June, driven largely by purchases from Strategy and Strive.  

Preview our key findings below.

1. Most holders didn’t sell their digital credit

Our audience held strong throughout the price crash. 70% of all respondents own digital credit, and 84% of those who owned it did not sell at all during the downturn. 

2. One fifth of respondents expect over $50B in digital credit 

Respondents had strong expectations for digital credit. Over three quarters (78%) project growth by the end of 2027. Plus, a significant minority (22%) expect aggressive growth, summing two categories that project the supply to pass $50 billion or even $100 billion.

3. Digital credit volumes hit $10 billion this month

STRC and SATA, to our knowledge, did not generate ATM proceeds in June. However, they saw record-breaking monthly trading volumes surpassing $10 billion in total — with STRC volumes reaching $8.7 billion over the month and SATA reaching $1.5 billion.

4. Strategy expected to issue up to $30B in digital credit

We also asked our audience how much new digital credit individual companies could issue, excluding their currently issued amounts. Expectations for Strategy skewed highest — toward $10 to $30 billion in new digital credit by the end of 2027.

Strive projections skewed moderately high, with the most popular option projecting $2 to $5 billion in new issuance. Metaplanet expectations were somewhat evenly distributed.

5. Bitmine prefs traded nearly $100M in three weeks

BitMine’s Series A Preferred Stock, BMNP, began trading on the New York Stock Exchange on June 16. In the first three weeks of trading spanning 12 trading days, we calculated $98 million in cumulative volume, with an average daily volume of $8.2 million.

6. Altcoin holdings still near $20 billion

We continue to monitor public companies holding digital assets other than Bitcoin and found they held $19.2 billion in crypto near month end. We also find understated growth: token amounts in treasuries are trending upward even as the dollar value of holdings declines.

For further analysis, or to discuss trends driving your investment or treasury strategy, reach out to our research team at office@bitcointreasuries.net.

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