Corporate Bitcoin Cost Basis Near $90K as 80% of Treasuries Show Unrealized Losses

On March 10, Charles Edwards of Capriole Investments reported that roughly 80% of companies holding Bitcoin as a treasury asset are currently in unrealized loss, with a simple average acquisition cost near $90,000 and a weighted average around $81,000. He added that institutional and ETF holders are generally underwater as well, even as renewed treasury and ETF demand and a recent multi‑billion‑dollar BTC purchase by Strategy coincide with Bitcoin trading around $71,000.