Glassnode said the cost basis for public companies holding Bitcoin is about $80,000, and that Bitcoin has traded above that level continuously since Sept. 18. On that basis, the firms are currently in profit. The on-chain analytics provider also argued that their buying activity could create a self-reinforcing loop: purchases push Bitcoin higher, a higher Bitcoin price lifts their share prices, and stronger equity prices can then provide funding for additional Bitcoin purchases. The comment was published in a post cited by Techub News.
According to Techub News, Glassnode said in a post on X that the cost basis for public companies holding Bitcoin is about $80,000.
Glassnode added that Bitcoin has remained above that level since Sept. 18, leaving those companies in profit at present.
The firm said their buying activity may create a self-reinforcing loop: purchases lift Bitcoin's price, rising Bitcoin prices support their stock prices, and higher stock prices can provide capital for further purchases.
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