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Bitcoin treasury companies were the talk of the town during the recent BTC Asia conference in Hong Kong, and onchain data shows they hold more than ever in their virtual coffers, but a new report from CryptoQuant highlights that they are being a bit more cautious in their crypto buys.

CryptoQuant data shows aggregate BTC treasury holdings hit 840,000 BTC this year, led by Strategy with 637,000 BTC.

Yet the average purchase size has collapsed: Strategy bought just 1,200 BTC per transaction in August, while other firms a

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