New Bitcoin treasuries may crack under price pressure
Strategy has inspired a wave of copycats to join the corporate Bitcoin treasury wave, but they haven’t been battle-tested and entered at higher average prices.
A growing number of publicly listed companies is announcing plans to add Bitcoin (BTC) to their corporate treasuries, and the trend is beginning to raise eyebrows.
In the 30-day span to June 11, at least 22 entities added Bitcoin as a reserve asset, according to BitcoinTreasuries.net.
The buying spree was popularized by Strategy (formerly MicroStrategy), whose aggressive Bitcoin accumulation blueprint has inspired a wave of imitators.