Trouble mounts for Bitcoin treasuries as unrealised losses near $1 billion

Bitcoin treasury companies are bleeding as Bitcoin’s price flutters around $89,000. Metaplanet, one of the largest Bitcoin treasury companies after Strategy, has swung from over $600 million in unrealised profits in early October to around $530 million in unrealised losses as of December 1, according to data from Galaxy Research. The collapse mirrors Bitcoin’s 25% price drop from its October highs. With Bitcoin trading around $89,000, treasury companies that accumulated aggressively near the peak are now ...