Corporate Bitcoin holdings are growing. But most of that BTC is sitting idle. Public companies currently hold approximately 1.26 million $BTC, worth nearly $80 billion, across 197 companies tracked by @BTCtreasuries. Yet only a very small share of corporate Bitcoin is being put to work. As the graphic highlights, less than 0.8% is earning yield, leaving more than 99% held as a passive reserve. That is not necessarily a bad thing. Treasury teams must weigh custody, liquidity, counterparty exposure, regulation and the risk attached to any yield-generating strategy. But it does reveal a wider opportunity. Bitcoin does not only have to be held or sold. It can also be used as collateral to access liquidity while preserving exposure to the underlying asset. For companies holding BTC, the next treasury question may not be: Should we sell? It may be: How can we use the Bitcoin on our balance sheet without giving it up? The infrastructure for Bitcoin-secured finance is now being built around that question.