Corporate Bitcoin Treasuries Struggle to Stay Afloat Amid Slowing Demand

Corporate Bitcoin treasuries have been struggling to stay afloat as prices remain below their average cost basis of $80,500. According to Coinglass data, listed companies added only 5,900 BTC over the past three months, a significant slowdown from the 89,000 BTC purchased in July 2025 when Bitcoin traded above $100,000.

Strategy, which holds the largest corporate Bitcoin treasury, is an exception with its cost basis of $75,412 below the wider corporate benchmark. However, even Strategy's holdings are underwater due to the current price being below their average entry level.

The US spot Bitcoin ETFs saw net outflows of $462.7 million in five trading days through Sept. 11, while Bitcoin's realized cap began falling on Sept. 15, signaling reduced fresh buyer appetite at current prices.