Strategy’s Bitcoin dominance slips in October as corporate treasuries expand

Michael Saylor's company, known for being a significant Bitcoin holder, saw its dominance slip in October 2023. This decline is attributed to a combination of slower accumulation rates and rising competition from corporate treasuries, which are increasingly investing in Bitcoin. As more corporations enter the cryptocurrency space, the dynamics of Bitcoin ownership are changing, posing challenges for established holders like Saylor's company. The situation underscores the competitive nature of the cryptocurrency market and the need for major players to adapt to maintain their influence.