77% of Corporate Bitcoin Holdings Now Underwater, Data Shows
Bitcoin has dropped 46.5% from its all-time high, causing 77% of corporate Bitcoin holdings to be underwater, a situation last seen in May 2022. Notably, Michael Saylor's company Strategy holds over 720,000 BTC purchased at an average price significantly above the current market value, resulting in substantial unrealized losses and a steep decline in its stock price. This downturn reflects broader corporate treasury pressures and ongoing challenges in the crypto market.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. At a current price of $67,515, Bitcoin, the first and largest cryptocurrency by market cap, is down 46.5% from its all-time high of $126,198 reached in October 2025. Bitcoin’s nearly 47% drop in a matter of months has put most corporate crypto treasuries under pressure. Crypto analyst and Capriole fund founder Charles Edwards indicated a large chunk of Bitcoin treasury companies are in losses. "77% of Bitcoin Treasury Companies are underwater on their Bitcoin buys," Edwards wrote in a recent tweet, adding that the "last time this happened was May 2022." 77% of Bitcoin Treasury Companies are underwater on their Bitcoin buys. The last time this happened was May 2022. pic.twitter.com/S7XBBVEiEn The collapse of TerraUSD stablecoin project in May 2022 sparked a daisy chain of corporate failures, which impacted Bitcoin's price and consequently treasury buyers. Bitcoin's price has fallen below the average purchase cost of Michael Saylor's Bitcoin treasury company, Strategy. Bitcoin, at above $67,000, trades well below Strategy’s average purchase price of roughly $75,985 per coin, implying that the one-time enterprise software-focused company is sitting on billions in unrealized losses. As of March 1, Strategy's Bitcoin holdings amount to 720,737 BTC acquired for nearly $54.77 billion at nearly $75,985 per Bitcoin. The company’s common stock has fallen for eight straight months, erasing more than 70% of its value since November 2024. Bitcoin fell in a three...
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