Leading Bitcoin analysts are sounding the alarm over what could be this cycle’s biggest speculative bubble – Bitcoin treasury companies. As BTC trades near $103,709, experts warn that the surge in companies adopting Bitcoin-centric treasury strategies could pose systemic risks to the market.
The debate ignited when prominent crypto investor Stack Hodler compared these companies to “this cycle’s shitcoins,” highlighting how they’re “creating shares out of thin air to sell to people hoping to outperform Bitcoin.” This warning comes as corporate Bitcoin buying has reached record levels in 2025.
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The Growing Risks of Bitcoin Treasury Companies
While MicroStrategy remains the dominant player with over 500,000 BTC, numerous copycat firms are emerging. Metaplanet’s recent $15M bond issuance for BTC purchases exemplifies this trend, raising concerns about sustainability.
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FAQs About Bitcoin Treasury Companies
Are Bitcoin treasury companies safe investments?
While established companies like MicroStrategy have proven track records, newer entrants carry significant risks due to their reliance on continuous share issuance and Bitcoin price appreciation.
What happens to these companies in a bear market?
During market downturns, these companies may face pressure to sell their Bitcoin holdings to meet obligations, potentially creating a negative feedback loop.
How do Bitcoin treasury companies compare to direct Bitcoin investment?
Direct Bitcoin investment typically offers better liquidity and lower counterparty risk compared to holding shares in Bitcoin treasury companies.
