Crypto-exposed stocks slide as BTC-bolstered treasuries shed value
Many stocks of publicly traded firms that are exposed to Bitcoin have suffered significant drawdowns this month. The fallout from this month’s violent crypto market meltdown appears to have flowed into the stock markets, with publicly listed firms with exposure to crypto assets seeing significant losses during May.The month saw Bitcoin (BTC) and other leading cryptocurrencies crash by at least 50%, with BTC plummeting from roughly $60,000 on May 10 to bounce off support at $30,000 last week.The largest publicly traded firm by number of BTC held in its reserves, MicroStrategy saw its share....
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Since January 2022, the entire crypto economy has shed $1.36 trillion in value, as the market capitalization dropped from $2.34 trillion to today’s $979 billion. While the crypto economy is down in value, trade volumes are lower, and the value locked in decentralized finance (defi) has shed billions, treasuries held by decentralized autonomous organizations (DAOs) have increased by 7.69% in value since January, as roughly $700 million was added to the projects’ caches in eight months. DAO Treasuries Jump 7.6% Higher in USD Value, Since 2016 the Value Held by Decentralized....
Robinhood recently announced that its systems had been breached, leaving the data of millions of users exposed. The trading app is one of the most popular for trading stocks and with the advent of meme coins, has become one of the first contact points for new investors looking to get into crypto investing. This has […]
During the last year, there’s been a lot of discussion concerning bitcoin treasuries or public firms putting bitcoin on their balance sheets. However, the leading crypto asset by market valuation is not the only digital currency being held by treasuries. Ethereum has become a prominent treasury asset as a number of companies are known to hold the second leading crypto in their reserves.
Ethereum Treasuries Have Grown
According to the bitcoin treasuries list, exchange-traded funds, countries, public companies, and private firms own 1,559,047 bitcoin (BTC) worth roughly $66....
Companies around the globe made 60 Bitcoin announcements in five days, signaling a surge in corporate interest. Between June 9 and 13, companies added thousands of BTC to their balance sheets and revealed plans for billions more. This week’s activity shows that more businesses are treating Bitcoin like any other financial asset. Related Reading: Amid Bitcoin Hype, Seasoned Trader Predicts Sudden Drop To This Level Six New Bitcoin Treasuries Open Doors According to data shared by @btcNLNico on X, six firms created fresh Bitcoin treasuries and together added 404 BTC in just one week.....
A recent report from Bitcointreasuries.net has highlighted a significant shift in the behavior of Bitcoin (BTC) treasuries, revealing that the number of sales has outpaced purchases for the first time in February. Bitcoin Treasuries Experience Net Decrease According to the report, public companies engaged in treasury strategies purchased or disclosed nearly 7,800 BTC worth approximately […]