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Bitcoin treasury companies enter the "Darwin phase," Galaxy warns of premium collapse

bitcoin news Market Analysis

2025-12-06 08:08:45

BTC-0.91%

NAKA-4.26%

According to ChainCatcher, the price of Bitcoin has dropped from its peak of $126,000 to the $80,000 range, causing Bitcoin treasury companies (DAT) to enter the "Darwin phase," with equity premiums collapsing and leverage becoming a burden. Most DAT stocks have shifted to trading at a discount. A Galaxy Research report points out that some companies, such as NAKA, have plunged 98% from their peak, while Strategy has raised $1.44 billion in cash reserves to cope with market volatility.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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