Key Takeaways

Who bore the brunt of the Bitcoin DAT bubble burst?

Retail investors, who lost an estimated $17 billion after buying shares in MSTR, Metaplanet, and other Bitcoin DAT firms at inflated prices.

What’s the broader impact on BTC treasuries?

Overvalued DATs labeled as “bubbles” have begun to burst, putting Bitcoin’s institutional credibility at risk.

On paper, more and more companies adding Bitcoin [BTC] to their treasuries looks like a big win for investors, showing that BTC is being taken seriously as a “store of value” by institutions.

As evidence, Bitwise used hard data to highlight this trend.

During Q3, the number of corporate Bitcoin holders rose 38% to 172, as 48 new companies joined the club. Together, these companies purchased 176,000 BTC, bringing the total corporate stash to just over 1 million BTC.

Strategy leads corporate holdings

Focusing on the top holders, Strategy [MSTR] stood out, with over 640,000 BTC in its treasury. Technically, that’s nearly 13 times the size of MARA Holdings [MARA], the second-largest corporate holder.

On paper, MSTR’s Bitcoin-focused strategy appeared to have delivered performance that even outpaces the “Magnificent 7” stocks in annualized return, highlighting the effectiveness of its corporate treasury approach.

That said, some analysts are raising caution. 

Tom Lee, Chairman

Go to Source to See Full Article
Author: Ritika Gupta