• 65% of Bitcoin-buying companies hold positions at a loss due to purchases above $90,000.

• Five firms, including Hut 8 and Sequans, sold 1,900 Bitcoin amid the price dip to $81,000.

• Net Bitcoin stacking by public and private companies totaled 10,750 units in November, with Strategy accounting for 72% of buys.

Discover how Bitcoin treasury firms are navigating unrealized losses in 2025. Explore key sales, accumulations, and market pressures in this in-depth analysis—stay informed on crypto treasury trends today.

What Are the Unrealized Losses Faced by Bitcoin Treasury Firms?

Bitcoin treasury firms are grappling with significant unrealized losses, as a comprehensive report from Bitcoin Treasuries reveals that 65% of 100 sampled companies purchased Bitcoin at prices exceeding $90,000. With the asset currently trading around $90,000, these firms are underwater on their investments, particularly those that entered earlier in 2025 amid Wall Street’s enthusiasm for digital assets. However, net holdings continue to grow, highlighting resilience among dedicated accumulators.

Which Companies Sold Bitcoin Amid Last Month’s Price Decline?

The Bitcoin Treasuries report details that five firms collectively offloaded 1,900 Bitcoin during November’s price drop to as low as $81,000. Among them, cryptocurrency miner Hut 8 and treasury-focused Sequans led the sales, reflecting broader market pressures. This activity occurred against a backdrop of substantial mark-to-market challenges, yet it did not derail overall accumulation, as private and public entities net added 10,750 Bitcoin. The report emphasizes that such sales underscore the risks of averaging into elevated prices without immediate upside validation. Industry observers note that while these disposals represent a minority response, they signal caution among boards facing strained balance sheets. For context, the report analyzed disclosures from 164 companies since January, with only 28 reporting purchases last month, including about 60 first-time buyers who have remained silent since.

Frequently Asked Questions

What Percentage of Bitcoin Treasury Firms Are Experiencing Unrealized Losses in 2025?

In 2025, 65% of Bitcoin treasury firms analyzed in the Bitcoin Treasuries report are facing unrealized losses, having bought the asset above $90,000 per unit. This stems from purchases made during peak hype periods, leaving many in the red as prices stabilized around $90,000. The data highlights the volatility risks for corporate adopters.

How Much Bitcoin Did Companies Net Accumulate Last Month Despite Sales?

Even with sales from five firms totaling 1,900 Bitcoin, public and private companies net accumulated 10,750 Bitcoin last month. This growth was propelled by a handful of dedicated treasury firms, such as Strategy, which bought approximately 9,000 Bitcoin, representing 72% of total purchases. Such activity demonstrates ongoing commitment to long-term holdings amid short-term dips.

Key Takeaways

• Unrealized Losses Dominate: 65% of sampled Bitcoin treasury firms hold losses due to high entry prices above $90,000, pressuring balance sheets.
• Selective Sales Occur: Five companies sold 1,900 Bitcoin last month, but net accumulation hit 10,750 units, led by aggressive buyers like Strategy.
• Strategic Rethinking Ahead: Boards must reassess treasury strategies as crypto winter fears rise, balancing conviction with downside risks for sustained growth.

Conclusion

As Bitcoin treasury firms confront unrealized losses in 2025, the Bitcoin Treasuries report underscores a mixed landscape: widespread mark-to-market strain for 65% of holders juxtaposed with robust net accumulation of 10,750 Bitcoin last month. Companies like Block and Tesla maintain strong positions with low cost bases below $30,000, while newer entrants such as Trump Media & Technology Group face steeper challenges at $120,000 averages. This evolving dynamic prompts risk committees to refine approaches, potentially curbing aggressive stacking amid cooling hype. Looking forward, dedicated treasury firms will likely drive further adoption, offering opportunities for investors to monitor corporate crypto strategies closely.