DAT capital inflow plummeted by 95%, and the company's purchasing power has significantly decreased

According to Beincrypto, since Bitcoin's decline from its peak, corporate purchasing has plummeted. Data from DeFiLlama shows that the weekly inflow of Digital Asset Treasury (DAT) reached a peak of approximately $5.57 billion in July 2025, but had dropped to $259 million by November, a decline of over 95%, indicating a general decrease in institutional purchasing power and confidence.

Latest data shows that the sell-off of DAT-related stocks far exceeds the decline of their underlying assets. According to Artemis, Bitcoin has fallen about 10% over the past three months, while DAT-related stocks have seen declines of up to 40% to 90% during the same period.

Previously, Sequans Communications sold approximately $100 million worth of 970 Bitcoins (about 30% of its holdings) to repay convertible bonds, making it the first treasury company to choose to sell crypto assets. In the current market environment, where Bitcoin prices are under pressure, this has raised questions about the sustainability of the DAT strategy.

Analyst Nic Carter believes that as the dollar strengthens and Bitcoin weakens, digital asset management companies may sell Bitcoin in exchange for dollars.