Lifeline or as a last resort for companies in difficulty?

The adoption of crypto companies in treasure management increases rapidly. In the first half of 2025, the counting of public companies holding BTC almost doubled, according to a K33 research report.

K33 revealed that between December 2024 and June 2025, the number of companies listed with Bitcoin (BTC) on their balance sheets has increased from 70 to 134, amassing a total of 244,991 BTC.

The trend makes comparisons with anterior waves of adoption of corporate gold. “There are clear parallels, in particular to provide a means for investors to access an underlying assets to which they may have had trouble accessing,” Mike Foy, a financial director of Amina Bank, told Cintelegraph.

Foy said that the sustainability of the movement depended on market details and regulatory environments. “Time will tell us if it becomes a lasting trend, but it is clear that the strategy has a first advantage of mover,” he noted, adding that jurisdiction companies with limited access to institutional cryptography products benefit the most.

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Cryptographic treasure: Lifeline or Last Resort?

In particular, the trend of the cryptographic treasure also feeds skepticism that companies in difficulty can use digital assets as a reputation loss. Foy has recognized that temptation exists for pressure companies.

Last month, the Windtree Therapeutics biotechnology company revealed a purchase agreement of $ 60 million with Build and Build Corp. To start its BNB cash plan, followed by a line of participation credit of $ 500 million and a share purchase pact of $ 20 million to extend its assets.

The company briefly experienced an increase in mid-July when it announced the BNB treasure strategy, but the shares have since dropped by more than 90% of their peak.

On Tuesday, the NASDAQ announced that the biotechnology company would be struck off so as not to have maintained the minimum price of $ 1.00 required under rule 5550 (a) (2).

Foy has suggested examining their behavior to identify companies using the cryptographic treasure for short -term optics. He advised the verification of the expertise in management risks, leverage levels, emphasis on sales of basic action and initiates.

“If one of them seems strange or out of the ordinary, then it may be a sign that it is not a long-term plan but rather a short-term course game,” he said.

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Companies test ether, altcoins in treasury bills

While Bitcoin remains the dominant choice for treasury bills, companies are starting to experiment with ether (ETH) and selected altcoins. The difference, according to Foy, lies in the potential to mark out awards and new opportunities for collaboration with the blockchain foundations.

Last month, Ray Youssef, CEO of noons, said that Ethereum’s hybrid call attracts cash managers. “Ethereum is starting to look like a hybrid between technological equity and digital currency.