Bitcoin treasury trend is new altseason for crypto speculators: Adam Back
Crypto speculators may offset some of their altcoin losses by investing in Bitcoin or BTC treasury firms, according to Hashcash inventor Adam Back.
Bitcoin treasury adoption by public companies has become the new altcoin season for cryptocurrency speculators, Adam Back said on Monday.
Bitcoin (BTC) treasury season “is the new ALT SZN for speculators,” said Back, co-founder and CEO of Blockstream and the inventor of Hashcash. “Time to dump ALTs into BTC or BTC treasuries,” he added.
Bitcoin treasury firms are buying BTC “on repeat to increase Bitcoin per share,” tapping into different funding methods such as convertible note offerings to accumulate more of the world’s first cryptocurrency, making them attractive for investors, Back explained.