Bitcoin treasury firms have little reason to launch without a clear “edge,” a Bitcoin treasury executive says, as debate over a potential bubble intensifies.
Investors are becoming more discerning of Bitcoin treasury companies as the “euphoria” over Bitcoin-stacking firms is starting to wane, according to a Bitcoin treasury executive.
There are currently 205 publicly listed Bitcoin (BTC) treasury companies worldwide. But their sheen has started to dull, with several firms that have adopted the strategy seeing their market net asset values (mNAVs) plunge in recent months.
“The market’s getting more sophisticated, it’s learning how to assess what makes treasury companies different,” KindlyMD CEO David Bailey, who is leading the company’s Bitcoin accumulation strategy, said in an interview with CNBC on Thursday.
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