Bitcoin Treasuries to Move Beyond HODL to Yield, Hedging and Share Buybacks as NAV Discount Bites

The great corporate bitcoin land grab of the summer has substantially cooled, and the latest batch of digital-asset treasury (DAT) stocks is showing the hangover. Many of the once-hot bitcoin treasury stocks now trade below the value of the crypto stash they hold, forcing companies to move beyond a simple "buy and hold" approach and instead think harder about whether the BTC on their balance sheet is supposed to do more than just sit there. “We’re moving from accumulation to stewardship,” said Thomas Che ...