Strategy share as a role model? Crypto treasury companies have to do more than imitate
The number of crypto treasury companies is growing. But while times are becoming more difficult for them, cryptocurrencies could benefit as a whole.
Values in this article
Shares
3.42 EUR -0.07 EUR -2.01%
279.50 EUR -5.00 EUR -1.76%
currency
88,916,0246 CHF 255.3187 CHF 0.29%
95,086,6857 EUR 267.1349 EUR 0.28%
83,054,6150 GBP 214.7905 GBP 0.26%
16,590,452,1645 JPY 53,609,1401 JPY 0.32%
112,250,9836 USD 231,2509 USD 0.21%
0.0000 BTC -0,0000 BTC -0.30%
0.0000 BTC -0,0000 BTC -0.32%
0.0000 BTC -0,0000 BTC -0.25%
0.0000 BTC 0.0000 BTC 0.46%
0.0000 BTC -0,0000 BTC -0.24%
• Crypto treasury companies enter into a new phase
• Harder competition for investor money
• Further market maturity could inspire crypto prices
Companies and even whole nations begin to see cryptocurrencies as long-term value storage and protection against fiscal instability and Fiat devaluation. Therefore, for example, Strategy (formerly Microstrategy) and Metaplanet are increasingly taking Bitcoin into their balance sheets. In Switzerland-based billions in wealth managers 21Shares, in his half-year report on developments in the cryptomarkt, assumes that this trend of institutional Bitcoin adoption will continue in the second half of 2025.
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Strategy invests billions in Bitcoin
Under the leadership of Michael Saylor, Strategy has been investing billions in Bitcoin for years and partially financed this through the sale of debt titles. Although the software manufacturer is actually specialized in business intelligence solutions, he has made Bitcoin a central part of his corporate strategy.
Michael Saylor is the architect of the company’s Bitcoin strategy and a real Bitcoin enthusiast. At the BTC Prague, which took place from June 19 to 21, 2025, he has already significantly adapted his already Bullishe forecast upwards. Accordingly, he is now assuming a long-term price goal of $ 21 million per Bitcoin within the next 21 years. Previously, he had “only” forecast $ 13 million.
Critical turning point
But there are also voices that warn that the market for such crypto buying companies is oversaturated and that many of them could not survive in the long run. “The days of light money and the guaranteed MNAV premiums (Multiple of Net Asset Value) are over,” quotes “CoinTelegraph” from a report by Coinbase research manager David Duong and researcher Colin Basco. Early market participants such as Strategy “enjoyed significant premiums”, but “competition, execution risks and regulatory restrictions have contributed to compression of the MNAV”.
“The rarity bonus, which early users benefited from, has already evaporated,” the two researchers wrote and supplemented that crypto denimous cups have now “achieved a critical turning point”.
Advantage for cryptocurrencies
According to Duong and Basco, the success of the treasury companies “increasingly depends on the execution, differentiation and timing instead of simply copying the microstrategy game book”. Nevertheless, the two overall are optimistic, because they believe that the growing competition and market maturity could inspire the cryptoma markets.
Editor finance.net