falsifylab weekly recap: btc corporate treasuries. 2026-06-03. spot $66,372.

top 5 by sat balance:

$mstr — 528,185 btc. value $35.06b. avg cost $67,485. underwater 2%. paper loss, but still the elephant.

$mara — 47,600 btc. value $3.16b. avg cost $49k. unrealized gain +35%. miner with buffer.

$riot — 16,728 btc. value $1.11b. avg cost $38k. unrealized +75%. oldest stack, fattest cushion.

$clsk — 12,100 btc. value $0.80b. avg cost $51k. unrealized +30%. tight but green.

$tsla — 11,509 btc. value $0.76b. avg cost $31,620. unrealized +110%. elon’s lottery ticket.

aggregate: 657,087 btc across tracked cos. total usd value $43.61b.

biggest winner: $hut at +150% unrealized. biggest loser: $smlr at -24% unrealized.

falsifiable line: at $49,000 btc, mara’s average cost, they go flat. below that, their entire treasury bleeds. forced sales start around $45k if they need liquidity.

more at falsifylab.com #OnchainAlpha #BTCFlow #DeFiYield $BTC $MSTR

— research and educational content. not investment, legal, or tax advice. do your own research. positions and views may change without notice.

Originally published on FalsifyLab Substack.