Bitcoin treasuries buy just 5.9K BTC in three months as paper losses linger

Bitcoin (BTC) is no longer a target for corporate treasuries as current buyers sit on unrealized losses, new research shows.

Key points:

• Bitcoin corporate treasuries added just 5,900 BTC over three months, a fraction of 2025 acquisition rates.
• Previous buyers remained in unrealized losses on their holdings, with their aggregate cost basis at $80,500.
• Analysis shows fresh investor capital inflows stalling this week.

BTC price action refuses to let Bitcoin treasuries break even

Onchain analytics platform Glassnode reveals that in 2026, listed companies bought around 5,900 BTC — less than 7% of their purchases in July 2025 alone. During that month, companies bought 89,000 BTC, even as BTC/USD traded above $100,000.

Glassnode notes that for extant corporate treasuries, profitability remains conspicuously lacking.

Data shows that 2026 has only seen two attempts to reclaim that cost basis, both of which were ultimately unsuccessful as price failed to hold above it.

“A buyer that has stopped buying and holds a paper loss is not support,” it continued.

“A reclaim of $80.5K would put the treasuries back in profit and remove one layer of overhead supply; until then their entry is one more ceiling.”