Bitcoin Treasury Firms Confront Reality: Scale and Transparency Are Key
Bitcoin treasury companies face a tough question: can they outperform BTC, or should investors simply buy the cryptocurrency directly?
“If you aren’t doing that, just buy a Bitcoin ETF,” said Matt Cole, CEO of Strive Asset Management, at BTC Asia in Hong Kong. Cole, known for advocating GameStop (GME) adding BTC to its balance sheet, emphasized that success depends on scale and smart financing, including a move from convertibles to perpetual preferred equity. The biggest hurdle, he noted, is building a $1 billion balance sheet to make leverage and IPOs viable.
Cole highlighted BTC’s unique qualities—fixed supply and long-term value preservation—while Ethereum and other tokens behave more like equities. Andrew Webley of The Smarter Web Company stressed transparency and clear risk communication as critical for investor confidence.
Investors now weigh aggressive strategies to outperform BTC against steady-growth firms with clear disclosure. Bitcoin’s role as a treasury asset continues to expand amid ongoing fiat debasement.
Market Snapshot:
- BTC: $110,500+, minor pullback, accumulation near support.
- ETH: $4,300, down 0.6%, supported by institutional demand.
- Gold: Near record highs, slight pullback.
- Nikkei 225: Gains driven by foreign buying, corporate reforms, and dovish U.S. cues.
- S&P 500: Up 0.83% to 6,502.08; traders await Friday’s jobs report.
