Picture this: several companies that made headlines for stacking Bitcoin as a treasury just sold it all and moved on.
It hits hard when you FOMO into these stories expecting them to HODL forever. You watch them dump and leave you wondering if you should have exited earlier as the extra supply weighs on $BTC .
Satsuma sold every last one of its 669 $BTC in late July and then delisted. Bitdeer emptied its treasury completely in February. Genius Group liquidated while Vaultz scrapped its policy. $MARA wasn't far behind, selling 15,133 $BTC in March just to buy back around $1B in convertible notes, and Empery unloaded almost half its coins.
Unlike $MSTR that keeps buying through every dip, these moves look more like opportunistic trades than a real strategy. We saw something similar when Tesla sold part of its Bitcoin in 2022, piling on pressure during an already tough market.
The lesson here is that corporate treasuries can flip from bullish signal to unexpected seller overnight. Timing your own positions around their balance sheet needs might save some pain.
Where do you think this goes from here for the remaining Bitcoin treasury plays?
#Bitcoin #CryptoTreasury #BTC
It hits hard when you FOMO into these stories expecting them to HODL forever. You watch them dump and leave you wondering if you should have exited earlier as the extra supply weighs on $BTC .
Satsuma sold every last one of its 669 $BTC in late July and then delisted. Bitdeer emptied its treasury completely in February. Genius Group liquidated while Vaultz scrapped its policy. $MARA wasn't far behind, selling 15,133 $BTC in March just to buy back around $1B in convertible notes, and Empery unloaded almost half its coins.
Unlike $MSTR that keeps buying through every dip, these moves look more like opportunistic trades than a real strategy. We saw something similar when Tesla sold part of its Bitcoin in 2022, piling on pressure during an already tough market.
The lesson here is that corporate treasuries can flip from bullish signal to unexpected seller overnight. Timing your own positions around their balance sheet needs might save some pain.
Where do you think this goes from here for the remaining Bitcoin treasury plays?
#Bitcoin #CryptoTreasury #BTC