Phoenix Group (PHX.AD) — BTC Stacking Curve
Cumulative holdings, every disclosed buy, share price, and the best-fit saturation curve.
Phoenix Group holds 641 BTC across 3 disclosed purchases. Average cost basis $106,690 per BTC. Last 30 days: 0 BTC. Last 90 days: 0 BTC — 0/week. Too few disclosures to fit a saturation curve.
Transaction history
All BTC transactions, most recent first.
| Date | BTC | Spot | USD Cost | Cumulative |
|---|---|---|---|---|
| Dec 31, 2025 | 127 | $87.5K | $11.1M | 641 |
| Jul 31, 2025 | 383 | $117.8K | $45.1M | 514 |
| Dec 31, 2024 | 131 | $92.8K | $12.2M | 131 |
How to read this chart
Cumulative BTC held — the staircase. Each step is a disclosed purchase; the step height is the size of the buy.
Purchase bubbles — one per buy. Bubble size is the BTC count; vertical position is the per-BTC cost basis. Small-and-high is a small buy at a high price; big-and-low is a big buy made cheap.
Share price — the secondary line on the right axis. Did the company stack faster when its equity ran hot?
Regression fit — the best of a Richards and a Gompertz saturation curve, chosen by log-R². It has to flatten: there are only 21 million Bitcoin.
Controls — Linear/Log switches the BTC axis. Play animates the curve forward through disclosure time. ‹ › steps through the cohort by holdings.