Successive Announcements of Major Cryptocurrency Investments by Small-Cap Companies, VanEck Expert Points to Potential Stock Manipulation

In the midst of a bullish cryptocurrency market, a series of announcements by small-cap publicly traded companies about large-scale cryptocurrency purchase plans have been made. Despite these companies having market capitalizations ranging from tens to hundreds of millions of dollars, they are declaring plans to build cryptocurrency portfolios worth billions. Experts are raising concerns about the sustainability of these plans.

Matthew Siegel, Head of Digital Assets at VanEck, in an interview with The Block, pointed out that many of these plans could be attempts to boost the stock prices of small-cap stocks. 'If the market cap is small and there's no disclosure of new major investors, it's better to consider these as speculative maneuvers,' he analyzed, urging investors to adopt a cautious stance.