Bitcoin’s Climb Past $80,000 Pulls Treasury Firms Back Into Profit

Corporate holders of bitcoin are back above their average cost basis, though new buying appears to have slowed. Bitcoin's price has moved back above $80,000, returning many corporate treasury holders to profitability on their holdings. CryptoBriefing and CoinGape both reported the shift on October 22, framing it as a turning point for firms that had been sitting on unrealized losses. Treasury companies are businesses that hold bitcoin on their balance sheets as a core strategy, rather than as a side investment.

Source: TheCoinrise