The analysis examined companies maintaining detailed cost basis records for their Bitcoin holdings. Market prices fell below purchase levels for roughly 65% of these firms, creating substantial paper losses across corporate balance sheets.
Bitcoin retreated below the $90,000 threshold Thursday despite the Federal Reserve announcing a rate cut. About 140 companies recorded declines of at least 10% over one to three months, while approximately 105 firms experienced similar drops year-to-date.
Strategy — formerly MicroStrategy — and Strive continued accumulating Bitcoin through November despite market weakness. Strategy alone accounted for roughly 75% of monthly corporate purchases following earlier sell-offs by other firms.Why It Matters: Selective Buying Returns.
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