Glassnode: corporate treasuries bought only 5,900 BTC in three months and slipped into the red
- —About 5,900 BTC bought over three months for $451 million at $76,400
- —A year earlier, companies bought more than 100,000 BTC in a comparable period
- —Strategy bought 4,603 BTC in late August, the majority of all purchases
- —181 companies hold about 1.22 million BTC, of which 845,050 BTC is held by Strategy
Why it matters: A return above $80,500 would bring treasuries back into profit and ease some selling pressure; for now, their entry price acts as a ceiling.
Source: Coinpaprika News