Corporate Treasuries Reduce Bitcoin Purchases Amid Weak Demand Signals
- Corporate treasuries bought only 5,900 BTC in the last three months.
- The average entry cost for corporate treasuries is $80.5K, about 6% above current spot prices.
- Public companies hold approximately 1.22 million BTC across 181 firms, with Strategy being the largest holder at around 845,050 BTC.
- U.S.-listed spot bitcoin ETFs have attracted billions since early August but remain $1 billion short of a positive year-to-date performance.
- The Coinbase premium indicator has mostly remained negative since May, indicating weaker demand from U.S. buyers compared to international traders.
Despite a slight increase in institutional interest through Bitcoin ETFs, overall demand remains weak as corporate treasuries are still underwater on their investments at current prices.
With corporate treasuries holding significant amounts of Bitcoin but only marginal purchases recently, their average entry price of $80.5K continues to act as a ceiling for potential gains.(Source)
