The recent trend of executives buying Bitcoin for their corporate treasuries has sparked a lot of discussion in the crypto community. From Michael Saylor to David Bailey, Anthony Pompliano to Jack Mallers, it seems like everyone is jumping on the Bitcoin bandwagon. Despite billions of dollars worth of BTC being purchased every week, the price of Bitcoin has remained relatively stable. This has led many to wonder why this is the case.
One Twitter user, Bitcoin Cam, posed the question: “Can anyone explain to me why companies are buying billions of dollars of bitcoin every week and the price is virtually unchanged over the last 6 months?” This question received over 1.3K replies, with various opinions and theories being shared.
One interesting theory came from SightBringer, a prominent figure in the crypto space. He suggested that the reason the price of Bitcoin isn’t moving despite large corporate purchases is because the market is no longer a traditional market – it’s a controlled ignition chamber. SightBringer went on to explain his theory in five key points:
1. ETF flows are real. Sovereigns and institutions are accumulating cold bitcoin.
Large investors like BlackRock and Fidelity are buying real Bitcoin through ETFs, not just paper representations. This has led to a record number of Bitcoins being bought by public companies in 2025.
2. Exchange liquidity is fake. Most trading happens on fractional reserves of “paper bitcoin” – IOUs, not actual coins.
SightBringer pointed out that a lot of trading on crypto exchanges doesn’t involve real Bitcoin changing hands. Instead, it’s just IOUs or promises to deliver Bitcoin later, making the market seem larger than it really is.
3. Whales are rotating old supply out silently. Early miners and OTC wallets are feeding demand without triggering price – precisely to keep it low during transition.
Large holders, or whales, are quietly selling their old coins to new buyers or moving them to private wallets, keeping the price stable.
4. Volatility is being suppressed. BlackRock, Fidelity, and macro funds need price stability to finalize compliance, settlement rails, and balance sheet integration.
Big companies and funds prefer stable prices to ensure smooth operations. Bitcoin is becoming less volatile, which is a positive sign for institutional investors.
5. The real breakout is being delayed by design. Because once this thing moves, it won’t come back. It becomes untouchable.
SightBringer suggested that the market is being manipulated to hold back the price of Bitcoin. When it finally breaks out, it could skyrocket, and the big players want to be prepared for that moment.
Overall, the consensus is that there are various factors at play that are keeping the price of Bitcoin stable despite large corporate purchases. It will be interesting to see how this situation evolves in the coming months.