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Entity Cost Basis

Average cost basis (purchase price per BTC) for a tracked entity — shows the average price at which the entity accumulated its Bitcoin holdings.

PropertyValue
CategoryDigital Asset Treasuries
UnitUSD
Resolution1d
AssetsBTC
TierPro
API EndpointGET /v1/dat/entity
Fieldavg_cost_basis_usd

Overview​

Entity Cost Basis (also known as average acquisition price or realized price per entity) represents the volume-weighted average price at which a specific entity — corporation, fund, or government — acquired its Bitcoin holdings. This metric is derived from publicly disclosed purchase transactions, SEC filings, press releases, and on-chain analysis.

Unlike aggregate realized price which reflects the entire Bitcoin network, entity cost basis isolates the acquisition strategy of a single institutional holder, revealing their effective entry point into Bitcoin.

Interpretation​

  • Cost Basis < Spot Price: The entity is in unrealized profit on its Bitcoin holdings. The wider the gap, the larger the paper gain.
  • Cost Basis > Spot Price: The entity is underwater — its average purchase price exceeds current market value. This can create pressure to sell or impair assets on balance sheets.
  • Rising Cost Basis: The entity is buying at higher prices (DCA-ing up), indicating continued conviction despite rising prices.
  • Falling Cost Basis: The entity acquired BTC at lower prices historically, or is adding at lower levels (buying the dip).
  • Flat Cost Basis: No new purchases or sales — the entity is holding without changing its position.

For publicly traded companies (Strategy, MARA, Riot), cost basis is a critical metric for equity analysts: if BTC price drops below cost basis, it may trigger impairment charges under FASB ASC 350 (prior to 2025 fair value rules).

Use Cases​

  • Investment analysis: Compare an entity's cost basis to current BTC price to assess unrealized P/L
  • Strategy evaluation: Track how an entity's DCA strategy evolves — are they buying tops or dips?
  • Peer comparison: Compare cost basis across entities (e.g., Strategy vs MARA vs Tesla) to see who bought better
  • Risk assessment: Entities with cost basis near current price face margin/impairment risk on drawdowns
  • Institutional sentiment: Rising aggregate cost basis across multiple entities signals growing institutional conviction

Data Source​

Derived from publicly disclosed purchase transactions, SEC filings (10-Q, 10-K, 8-K), press releases, Bitcoin Treasuries data, and CoinGecko corporate holdings database. Updated daily when new disclosures are available.

API Usage​

curl -H "Authorization: Bearer YOUR_API_KEY" \
  "https://api.blocklens.co/v1/dat/entity?start_date=2024-01-01&end_date=2024-12-31&limit=365"