The premiums of the digital asset treasure companies (DAT) are falling and they are likely to get worse in the near future unless they take measures, says New York Digital Investment Group (NYDIG).
Nydig’s global research chief Greg Cipolaro said Friday that the gap between the price of actions and net asset values (NAV) of the main purchase companies of Bitcoin (BTC) as Metaplenet and the strategy “continue to compress” even when BTC has reached new maximums.
“The forces behind this compression seem to be varied,” Cipolaro added. “Anxiety for investors on the upcoming supplies of supplies, the changing corporate objectives of the DA management teams, tangible increases in the issuance of shares, the inverting of investors and the differentiation limited in the treasure strategies.”
Treasury Crypto companies have become the latest fashion on Wall Street and have obtained billions of dollars in the last year. Investors will generally compare the prices of shares with the value of the assets they have as a metric to evaluate their health.
Repurchase programs are needed to increase health
Cipolaro said that a “journey full of potholes can be ahead” for cryptographic treasury companies, since many are waiting for mergers or financing agreements to make them public, which could see a “substantial wave of sale” of existing shareholders.
He added that many treasure companies, including Kindlymd and Twenty One Capital, are quoted to the value of recent fundraising, and a fall in the price of shares “could exacerbate the sale once the shares are freely negotiable.”
If the actions of a treasure company were negotiated below its NAV, “the most direct course of action would be shares,” said Cipolaro, whose objective is to increase actions prices by reducing the offer.
“If we had to give DATS advice, it is to keep some of the funds raised aside to support actions through repurchases.”
Bitcoin Holdings of the company arrived in Peak, but the purchase slows down
Bitcoin’s shopping companies have reached a maximum of this year, at 840,000 BTC, with a strategy that has 76%, or 637,000, of the total, with the rest distributed in another 32 companies, according to a cryptocation report on Friday.
Related: Public companies reach 1M Bitcoin, reaching 5.1% of the BTC supply
The number of purchases per month has also increased, but Cryptoquant said that the total amount of bitcoin bought by the companies was slowed in August until below this year’s monthly average, and companies are collecting less bitcoin per transaction.
For example, the average purchase size of the strategy fell to 1,200 BTC in August compared to its 2025 BTC peak, while other companies bought 86% less Bitcoin compared to its maximum 2025 of 2,400 BTC in March.
That has led to a sudden deceleration in the growth of Bitcoin Treasury Holdings, and the monthly growth rate of the strategy decreased to 5% last month, compared to 44% at the end of 2024, while other companies saw an 8% growth in August compared to 163% in March.
Bitcoin has negotiated in the last 24 hours to around $ 111,200, and has fallen 10.5% of its peak more than $ 124,000 in mid -August, according to Coingecko.
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