Bitcoin Treasury Cost Basis Hits Floor: 80% of Corporate Holders Now Underwater

Around 80% of companies holding Bitcoin (BTC) as a treasury asset are sitting on unrealized losses, according to an analysis by Charles Edwards, founder of Capriole Investments. The data comes at a time BTC is pushing back toward $71,000, raising questions of whether the widespread institutional pain is a warning sign or a contrarian buy signal. The Numbers Behind the Corporate Pain Edwards shared a series of charts …