An NYDIG analyst has warned of possible market turbulence as the gap between the share price and asset values of Bitcoin holding companies has narrowed.
The premiums of digital asset treasury firms are falling, and that’s likely to worsen in the near future unless they take action, says New York Digital Investment Group.
NYDIG global head of research Greg Cipolaro said on Friday that the gap between stock price and net asset values (NAV) of major Bitcoin (BTC) buying firms such as Metaplanet and Strategy “continue to compress” even as BTC has reached new highs.
“The forces behind this compression appear to be varied,” Cipolaro added. “Investor anxiety over forthcoming supply unlocks, changing corporate objectives from DAT management teams, tangible increases in share issuance, investor profit-taking, and limited differentiation across treasury strategies.”
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