🚨 #BITCOIN TREASURY COMPANIES ARE BACK IN THE GREEN 🤯
With Bitcoin above $80,000, corporate treasury holdings have returned to aggregate unrealized profit, according to Glassnode.
The bigger picture:
🟠 Reported holdings: 1.27 MILLION BTC
🌎 Share of maximum supply: Over 6%
📈 Estimated cost basis: ~$80,200
💰 Status: Unrealized gains
In other words 👉 Companies pursuing Bitcoin treasury strategies already control a significant share of Bitcoin's fixed supply.
New corporate buying remains subdued, but the holdings are back above their estimated average acquisition cost.
OVER 6% OF THE 21 MILLION BTC SUPPLY CAP. 👀#BinancePick $BTC
With Bitcoin above $80,000, corporate treasury holdings have returned to aggregate unrealized profit, according to Glassnode.
The bigger picture:
🟠 Reported holdings: 1.27 MILLION BTC
🌎 Share of maximum supply: Over 6%
📈 Estimated cost basis: ~$80,200
💰 Status: Unrealized gains
In other words 👉 Companies pursuing Bitcoin treasury strategies already control a significant share of Bitcoin's fixed supply.
New corporate buying remains subdued, but the holdings are back above their estimated average acquisition cost.
OVER 6% OF THE 21 MILLION BTC SUPPLY CAP. 👀#BinancePick $BTC