Treasuries Weekly — February 20, 2026: 2,944 BTC from 5 entities

The big picture The Week

Strategy (MSTR) bought 2,487 BTC for $168.0M, representing 91 percent of the week's corporate activity and anchoring $183.5M across five distinct filers. The week's single notable deviation was Figma Inc (FIG), a first-time BTC buyer, acquiring 173 BTC for $15.0M—a signal that treasury adoption is widening beyond the traditional bitcoin-native or macro-hedge cohort into software and design firms. Hive Digital, Capital B, and Vanadi Coffee rounded out discrete purchases, though two reported no USD figures in this week's filings. BTC rallied 6.4 percent over the seven-day window, closing at $65,616, even as the Fear & Greed Index held at 23 (Extreme Fear).

Filings Recent Purchases

Company	Amount	USD	Date
Strategy (MSTR)	2,487 BTC	$168.0M	Feb 17
Hive Digital (HIVE)	271 BTC	~$17.8M	Feb 17
Figma Inc (FIG)	173 BTC	$15.0M	Feb 18
Vanadi Coffee (VANA)	7 BTC	$466.4K	Feb 13
Capital B (ALCPB.PA)	6 BTC	~$393.7K	Feb 16

~ Estimated value — the filing disclosed how many coins changed hands but no dollar figure, so we value it at the market price.

See filings as they land →

Worth reading Notable Filings

Strategy's $168.0M purchase on February 17 continues its cadence of intra-quarter adds without disclosed period-end balance revisions; the company remains the dominant corporate holder at 846,843 BTC ($55.6B at current price). Figma's entry into BTC treasury—disclosed via SEC filing on February 18—marks the first software-platform company to adopt BTC as a disclosed balance-sheet asset in this newsletter's tracking. Capital B (ALCPB.PA) disclosed a modest 6 BTC addition, bringing cumulative holdings to 2,834 BTC per its disclosure, while Vanadi Coffee's 7 BTC purchase for $466.4K reflects smaller-scale adoption continuing across geographies (Spain-based filing).

First-time filings New Stackers

Company	Now holding
Figma Inc (FIG)	173 BTC

Leaderboard Top Five

The largest tracked holders overall — companies, funds, and governments — ranked by total position, not by this week's activity.

#	Company	Holdings	Value
1	Strategy (MSTR)	846,843 BTC	$55.6B
2	BlackRock iShares Bitcoin Trust (IBIT)	766,163 BTC	$50.3B
3	United States (GOV-US)	328,372 BTC	$21.5B
4	Fidelity Wise Origin Bitcoin Fund (FBTC)	179,735 BTC	$11.8B
5	Grayscale Bitcoin Trust (GBTC)	140,665 BTC	$9.2B

Full leaderboard →

The breakdown This Week by Asset

Asset	This week's activity	Net USD · share
BTC 5 entities		$183.5M 100.0%

Corporate BTC filings remain concentrated: Strategy alone represents 91 percent of this week's $183.5M in disclosed activity. Meanwhile, ETF and government holdings dwarf the corporate cohort—BlackRock's iShares Bitcoin Trust holds $50.3B in BTC, the U.S. government $21.5B, and Fidelity's FBTC $11.8B. This underscores that corporate treasury adoption, while newsworthy, remains a rounding error against institutional capital flows and government seizures.

Was this email forwarded to you? Get your own copy every Friday →

You're reading Treasuries Weekly — a briefing on corporate BTC, ETH, and SOL balance-sheet adoption from CorpStacking.
Editorial is not investment advice. Data sourced from SEC EDGAR, CoinGecko, and primary corporate filings.

Unsubscribe  ·  Email preferences  ·  View in browser  ·  Advertise here

© 2026 J & M Sorce Holdings, LLC, d/b/a CorpStacking.