A report from onchain analytics platform Glassnode details a sharp slowdown in corporate treasury purchases, noting that public companies have bought only around 5,900 BTC throughout 2026. This institutional buying volume marks a dramatic decline of over 93% compared to July 2025, when total acquisitions surpassed 89,000 coins.
Cost Basis Sits 6% Above Spot Price
The slowdown in corporate investment aligns with pressure from the Corporate Treasury Cost Basis metric, which pegs the average institutional acquisition price at $80,500. This entry cost across institutional wallets sits roughly 6% above current spot market prices, leaving public corporate portfolios sitting on unrealized investment losses.
Market prices throughout 2026 attempted to push back with at least two price rallies. Unfortunately, these upward momentum waves were repeatedly beaten back before reaching institutional breakeven levels. With market prices pinned below corporate purchase costs, public entities remain locked away from profitability, dampening most companies’ appetite to accumulate more coins on open exchanges.
Strategy’s Cost Basis Advantage
The broader treasury slowdown has not stopped Strategy, the world’s largest corporate Bitcoin holder, which benefits from a more moderate average cost basis of $75,412. This price buffer separates Strategy’s routine buying maneuvers from other public companies burdened by paper losses near the $80,000 threshold.
The leading treasury holder expanded its reserve by acquiring 4,603 BTC in late August. This new addition brought Strategy’s total corporate holdings to over 845,050 BTC. Cost basis dynamics have carved out two distinct corporate strategies: veteran players with lower entry points continue accumulating freely, while second-tier corporate entrants sit on the sidelines waiting for prices to erase their balance sheet losses. Reported via Cointelegraph.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
