Crypto treasury firms pursue high-risk equity deals for Bitcoin accumulation
Public companies are increasingly using high-risk equity deals to accumulate Bitcoin, leading to significant shareholder dilution. Approximately 40% of these firms are trading below their net asset value, raising concerns for investors. As some companies pivot away from Bitcoin strategies, the competitive landscape in the crypto treasury sector is evolving.
- ▪Dozens of public companies have invested an estimated $42.7 billion into crypto assets in 2025.
- ▪About 40% of publicly traded Bitcoin treasury firms were trading below their net asset value by March 2026.
- ▪Some firms are shifting their focus away from Bitcoin, with K Wave Media redirecting funds towards AI data centers.
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Crypto treasury firms pursue high-risk equity deals for Bitcoin accumulation Public companies are diluting shareholders to stack Bitcoin, and roughly 40% of them are already trading below their net asset value. Share Add us on Google by Editorial Team May. 30, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); The MicroStrategy playbook sounded elegant in theory: issue equity, buy Bitcoin, watch the stock price ride BTC’s momentum.
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