The companies that add low performance Altcoins to their balances are burying the narrower treasury narrative, says the CEO of Bitcoin Treasury Company Nakamoto, David Bailey.
“The Treasury company nickname is confusing,” Bailey said in an X position on Sunday.
“Toxic financing, the failed altcoins were renamed as DATs, too many failed companies without a plan or vision. It is totally confused in the narrative,” Bailey said.
David Bailey says that the sector is “being tested”
Bailey emphasized that “the central strategy is to build and monetize its balance sheet.”
“If you can do well, your assets will grow over time; if you do it wrong, it will trade with a discount and will be consumed by someone who can do better,” he said.
“The Bitcoin Treasury company of the Fiat System is a bank. Today we are building Bitcoin banks. If you are afraid of that term, call them Bitcoin Financial Institutions.”
Bailey said that the entire treasure sector is “being tested.” Their comments occur when companies that are public are beginning to look beyond Bitcoin (BTC) and the risk curve so that other cryptographic assets are added to their treasure bonds. On August 2, it was reported that Mill City Ventures III, which is quoted at Nasdaq, can raise another $ 500 million under a capital agreement to finance its recently announced Sui Treasury strategy.
The narrative theses are promoting companies to expand their treasure bonds beyond Bitcoin, said Galaxy Digital in a July 31 report. Ethher (eth), Solana (Sol), XRP (XRP), BNB (BNB) and hyperlycides (Hype) are among cryptocurrencies that earn traction out of bitcoin.
Bitcoin in publicly listed companies is approximately $ 117.91 billion at the time of publication, according to Bitcointreasuries.net.
Ether is gaining traction as an alternative because you can also bet for annual yields, which makes it a value reserve and a source of income. According to StrategicethReserve, approximately 3.14% of Ether’s total supply is carried out in treasure companies that are quoted in the stock market.
Expanding interest may be the reason for the lateral price of Bitcoin
The CEO of Galaxy Digital, Mike Novograph, said that treasure companies that show interest in the broader cryptographic market may be the reason for the action of the lateral price of Bitcoin in recent times.
“Bitcoin is in a consolidation at this time. In part because you are seeing many of these treasure companies in other coins taking their chance,” said Novograph.
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Although the Altcoins in the treasure bonds have faced scrutiny, questions have also been asked about Bitcoin’s treasure bonds.
The Risk capital firm Breed said that only a few Bitcoin Treasury companies will resist the test of time and avoid the vicious “spiral of death” that will affect BTC holders that exchange near the value of net assets (NAV).
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