Companies adding underperformative altcoins to their assessments blurring the broader story of the treasure, explains the CEO of Bitcoin Treasury Nakamoto, David Bailey.
“The nickname of the cash company itself is confusing,” said Bailey in a Post X on Sunday.
“Toxic funding, stranded altcoins have renamed the date, too many missed companies without plan or vision. It is completely confused by the story,” said Bailey.
David Bailey says that the sector “is tested”
Bailey stressed that “the basic strategy is to build and monetize your balance sheet”.
“If you can do it well, you will develop your assets over time; if you do it, you will exchange at reduced prices and be consumed by someone who can do it better,” he said.
“Bitcoin Treasury Company of the Fiat system is a bank. Today, we are building Bitcoin banks. If you are afraid of this term, call them Bitcoin financial institutions. ”
Bailey said the entire treasure sector “is tested”. His comments come then that listed companies are starting to look beyond Bitcoin (BTC) and down the risk curve for other cryptographic assets to add to their treasury bills. On August 2, it was reported that Mill City Ventures III, listed in Nasdaq, could raise an $ 500 million additional dollars under a capital agreement to finance its recently announced Suitasury strategy.
Narrative theses push businesses to extend their treasury bills beyond Bitcoin, said Galaxy Digital in a July 31 report. Ether (ETH), Solana (Sol), XRP (XRP), BNB (BNB) and hyperliquid (hype) are among the cryptocurrencies that gain ground outside the bitcoin.
Bitcoin held in listed companies is around 117.91 billion dollars at the time of publication, according to BitcoinTareries.net.
Ether is gaining ground as an alternative because it can also be dotted for annual yields, making it a reserve of value and a source of income. According to StrategicethereveSeserve, approximately 3.14% of Ether’s total offer takes place in listed cash companies on the stock market.
The expansion of interests can be the reason for the lateral price of Bitcoin
The CEO of Galaxy Digital, Mike Novogratz, said that cash companies showing interest in the wider market of cryptography could be the reason for the lateral Bitcoin price action in recent times.
“Bitcoin is currently consolidating. Partly because you see many of these cash companies in other coins,” said Novogratz.
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While altcoins in treasury bills have been faced with a meticulous examination, questions were also raised about Bitcoin vouchers.
The venture capital company Breed said that only a few Bitcoin cash companies will not resist the time test and will avoid the vicious “death spiral” which will have an impact on BTC portfolio companies which are negotiated near the value of net assets (NAV).
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