Companies that add underperforming altcoins to their balance sheets have mud the broader narrative of Treasury, says the Treasury company of Bitcoin Nakamoto CEO, David Bailey.
“The Treasury Company Moniker itself is confusing,” Bailey Says On an x post on Sunday.
“Toxic financing, Altcoins failed to be rebranded as DAT, so many failed companies that have no plans or visions. It’s quite muddy,” Bailey said.
David Bailey said the sector was “tested”
Bailey emphasized that “the main approach is to make and make your sheet money.”
“If you can do this properly, grow your genitals over time; if you do it poorly, you exchange a discount and exhaust someone who can do it better,” he said.
“The Bitcoin Treasury Company of the Fiat System is a bank. Now we are building Bitcoin banks. If you are afraid of that term, call them Bitcoin financial institutions.”
Bailey said the entire Treasury sector was “tested.” His comments come as the companies listed in public begin to look beyond bitcoin (Btc) and down the risk curve for other crypto assets to add to their treasures. On August 2, it was reported that the listed Mill City Ventures III could raise another $ 500 million under an equity agreement To fund the recently announced approach to the Sui treasury.
Store -driven -driven driving companies to expand their treasures beyond bitcoin, Galaxy Digital Says In a July 31 report. Ether (Eth), Solana (Sol), XRP (XRP), Bnb (Bnb), And hyperliquid (hype) is among the cryptocurrencies that get traction out of Bitcoin.
Bitcoin held in companies that are publicly exchanged is approximately $ 117.91 billion at the time of publication, According to In Bitcointreasuries.net.
Ether gets traction as an alternative as it can also be stopped for annual return, making it a value store and a source of income. Approximately 3.14% of the total ether’s total supply will be held in companies that are publicly listed publicly, According to In strategicethreserve.
Expanding interest may be the reason for the price of Bitcoin’s sideways
Galaxy Digital CEO Mike Novogratz Treasury companies said showing interest In the broader crypto market may be the cause of bitcoin price action in recent times.
“The bitcoin in a merge now. Part of it because you see many of this ark companies in the other coins taken,” Novogratz said.
Related: The Altseason Index hits the highest level this year: Here’s what entrepreneurs think
While the Altcoins in Treasury face some investigations, the questions have also been raised about the wealth of Bitcoin.
Venture Capital Firm said Breed Some bitcoin treasury companies The test of time will stand and prevent the vicious “spiral death” that will affect BTC -holding companies trading near the net asset (NAV) value.
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