Bitcoin buying firms must weigh quitting as risks emerge: VanEck

Description

Bitcoin-buying public companies should be ready to cancel more buys if the value of their holdings eclipses their market cap, says VanEck crypto researcher Matthew Sigel.

Authors

Jesse Coghlan

Publish date

June 16, 2025

Publisher

Cointelegraph

Web URL

https://cointelegraph.com/news/bitcoin-buying-firms-weigh-stopping-risks-emerge-vaneck

Referenced by

mNAV and Bitcoin treasuries can the strategy hold when the ratio breaks?

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News story

Semler’s share price has fallen by over 45% this year as of the end of trading on Friday to the same level from when the company first started buying Bitcoin, pulling its market cap down to around $434.7 million.

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He added that no public company has traded below the net asset value of its Bitcoin for a sustained period, but that Semler Scientific, Inc. (SMLR) ‘is now approaching parity.’

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