Bitcoin Treasuries Hit 1M BTC | Who’s Buying & Why Strategy Got Snubbed

Bitcoin treasury companies just hit a massive milestone: 1 million BTC held — that’s 5% of the total supply.

In this long-form segment from The Weekly, @_dsencil and @graminitha1 break down:
• The cooling demand trend in new DAT deals
• Why Sora Ventures launched a $1B fund to boost Asia’s Bitcoin treasuries
• Europe’s new entrant “Treasury” (yes, that’s the name)
• Why Strategy (formerly MicroStrategy) was rejected from the S&P 500
• The role of passive flows, index inclusion, and regulatory gatekeeping

Whether you’re bullish on corporate BTC holdings or skeptical of the centralization risk, this is the segment for you.

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