Days Since First Purchase

Days Since First Purchase measures the number of days that have passed since a company’s initial BTC acquisition for its treasury. It marks the starting point of the company’s journey as a bitcoin holder.

Formula: Days Since First Purchase = Today’s Date – Date of Initial BTC Purchase To convert to years: Years Since First Purchase = Days Since First Purchase ÷ 365

Example Calculation Suppose a company bought its first bitcoin on January 1, 2022, and today is July 25, 2025: Days Since First Purchase = (July 25, 2025) – (January 1, 2022) That’s 1,301 days. Years Since First Purchase = 1,301 ÷ 365 ≈ 3.57 years

Why Is "Days Since First Purchase" Important?

Companies that bought BTC early have a longer operational history with bitcoin. Early movers may have experienced multiple market cycles, giving investors a sense of management's conviction and resilience.

The longer a company has held BTC, the more likely it purchased at lower prices. This can provide a cushion against price volatility or bear markets, impacting financial stability and reported profits.

Companies with an early first purchase often exhibit forward-thinking leadership and may be more comfortable navigating regulatory and market risks. Recent adopters may be reacting to peer pressure or macro trends.