Corporate Bitcoin buys hit record 50,351 BTC in Q1 despite 22% price drop, signaling strong long-term demand.

In Q1 2024, public companies accumulated a record 50,351 Bitcoin even as BTC prices fell 22%, highlighting strong institutional demand amid market volatility. Long-term holders increased their BTC holdings by 4.5% year-over-year, with conviction buyers surging 69% to 3.60 million BTC, the highest since 2020. This sustained corporate buying reflects strategic balance sheet positioning rather than short-term trading, suggesting confidence in Bitcoin's role as a hedge during prolonged macroeconomic uncertainty. With expectations of continued high interest rates and volatility, corporate demand could drive Bitcoin's performance and its ratio against gold in the second half of the year.