Is the Era of 'Alchemy' Over for Cryptocurrency Treasury Companies? - Insights from 10x Research

On the 17th, 10x Research, a firm specializing in cryptocurrency research, expressed the view that the era of 'financial magic' is coming to an end for Digital Asset Treasury (DAT) companies following a crash in their Net Asset Value (NAV). In the current environment of reduced volatility, these companies are being compelled to shift from marketing-driven momentum to true market discipline. NAV in Bitcoin treasury companies refers to the market capitalization of held Bitcoin divided by the number of shares issued...