25% of Bitcoin Treasury Coins Now Holdings Value

A recent report from K33 Research reveals that about 25% of publicly traded companies that hold BTC have a market value that is less than the value of their Bitcoin assets. This reflects a growing gap between the companies’ market value and the actual value of the Bitcoin they own.

Bitcoin Acquisition is Becoming Low

K33’s analysis indicates that investor feelings about companies involved in crypto have turned negative. Many of these companies are now trading for less than the value of their BTC assets. In the past, these companies often sold for more than their Bitcoin holdings because people believed they had good growth potential and strategic value in digital assets.

However, with lower prices, these companies have less financial flexibility. They struggle to raise money through stock sales, which they often use to buy more Bitcoin. As a result, their daily purchases of Bitcoin have dropped to the lowest level since May.

Notably, NAKA, the merger vehicle for KindlyMD and Nakamoto Holdings, has experienced a dramatic drop, losing 96% of its market value from its peak. Its market value to net asset value (mNAV) multiple has also fallen from 75 to just 0.7. 

Similarly, K33 reported that Strategy has also seen its premium decrease to 1.26, the lowest level since March 2024. As a result, Strategy has less ability to raise funds for new BTC purchases, which is evident in its recent lower weekly acquisitions.

BTC is Becoming a Bigger Part of Corporate Finance Strategy

Meanwhile, Bitcoin is no longer just an asset for retail investors or an alternative investment. Bitcoin is becoming a major part of the financial system. Institutional investors are adopting Bitcoin as a valuable asset.

The launch of Bitcoin Exchange-Traded Funds (ETFs) has made it easier for large investors to gain exposure to the cryptocurrency without directly buying and storing it. In March, Dominari Holdings, a biotechnology-focused company, took a bold step to expand its portfolio by launching a Bitcoin investment strategy

As more businesses and financial institutions adopt Bitcoin, its role in corporate finance is expanding. The growing national Bitcoin reserve initiative suggests that the asset could play a much bigger role in corporate finance.

Bitcoin Market Outlook

According to CoinMarketCap data, Bitcoin is trading at $115,760 as of the time of writing, up 0.55% in the last 24 hours. Recall that market fluctuations caused by economic factors and investor sentiment have led to uncertainty in the crypto market. While many analysts are cautious, some market experts remain optimistic.