Bitcoin treasury company BTC's average holding cost is approximately $80,500, with only 5,900 coins added in the past three months.

BlockBeats news, September 18 — Glassnode data shows that Bitcoin treasury companies added only about 5,900 BTC over the past three months, worth about $451 million at a spot price of roughly $76,400. Most of the buying came from Strategy, including its purchase of 4,603 BTC in late August.

By comparison, Bitcoin treasury companies added over 100,000 BTC in the same period last year, with 89,000 purchased in July 2025 alone. The average cost basis for Bitcoin treasury companies is about $80,500, roughly 6% above the current spot price, leaving them still underwater overall. Bitcoin Treasuries data shows that 181 listed companies currently hold about 1.22 million BTC, of which Strategy holds about 845,050.

Other demand indicators are mixed. U.S. spot Bitcoin ETFs have attracted billions of dollars since early August, but year-to-date cumulative net inflows are still about $1 billion short of turning positive. The Coinbase premium indicator has been negative for most of the time since May, while total stablecoin supply has remained basically between $300 billion and $310 billion this year, with no notable growth recently.