The Bitcoin Treasury Shakeout Has Begun: Which Companies Are Selling and Who’s Next?

For much of the past two years, publicly listed companies competed to raise capital to buy BTC and presented themselves as leveraged alternatives to holding the asset directly.

The model worked quite promisingly for a while, and their shares traded comfortably above the value of the BTC on their balance sheets. Some experienced massive growth within months. However, Scorpions’ immortal song has come to life – there’s a wind of change.