Is The Era Of Bitcoin Treasuries Coming To An End? Galaxy Digital CEO Weighs In

In the wake of the recent organizational transformations during the era of President Donald Trump, supportive of the quarter, the Ministry of Treasury companies in Bitcoin rose to the forefront in the scene of the encrypted currency.

Inspired by the Bitcoin Michael Corporation, the strategy (previously known as Microstrategy), and has increasingly adopted this approach. As of now, the strategy is the general company that has the greatest hideout of Bitcoin, with more than 600,000 coins.

However, not all industry experts share an optimistic look. Mike Novoghatz, CEO of Galaxy Digital recently suggested that the climax of the treasury company may be already late.

The upcoming challenges for the new Bitcoin and the encrypted cabinet knights

During the Galaxy Digital profit call in the second quarter, CEO of Galaxy Digital I mentioned“Maybe we have passed the PEAK TreASURY Company,” which raised questions about the future scene of these companies.

Novogratz, who regained its public company in May in the United States, stressed that attention should now turn into the current companies that can appear as important players in the market.

With the highlight of the growth of Ethereum, the second largest encrypted currency on the market, Novoghatz referred to two main treasury owners: Tom Lee’s BitMine and Joe Lubin’s Sharplink.

For example, indulgence techniques have been released in the form of bittells in the headlines with large ETH holdings, which recently They exceeded $ 2.9 billion.

As of August 3, BitMine was reported about a total of 833,137 ETH, at a value of about 3491.86 dollars per symbol, making it the largest ETHEREUM wardrobe in the world and the third largest coded coded in general.

Thomas Lee, Chairman of the BitMine Board, pointed to the company’s rapid rise in the encryption space, saying: “BitMine moved with lightning speed in its pursuit of” alchemy from 5 % “.

Parallel, Sharplink Gaming also made big steps in ethereum Accumulation, purchase an additional 83,561 eth for $ 303.7 million between July 28 and August 3.

This acquisition of the total ETH from Sharplink to 521,939 symbols, at a value of more than $ 1.9 billion. The company successfully raised $ 264.5 million from the sale of 13.6 million shares, after a previous increase of $ 279.2 million in the previous week.

Sharplink also has I mentioned A noticeable increase in the ETH concentration scale, which has increased by 7.6 % week and 83 % since June.

Novogratz expects that these companies will continue to expand, although it has warned that new arrivals may face great challenges in gaining traction in an increasing competitive environment.

Galaxy Digital Checks worth $ 2 billion

Galaxy Digital has placed itself as a major player in this emerging sector, cooperating with more than 20 Investment companies in the encrypted treasury. This network has contributed about two billion dollars on the Galaxy platform, generating frequent income described by Novoghatz as sustainable.

Despite the increasing interest in the cryptocurrency companies fed by a more appropriate organizational climate in the United States, the warning Novogratz perspective raises important questions about the sustainability of this trend.

while Legislation legislation Evolution continues and enhances a wave of upward feelings, and the market has recently witnessed prices of prices after previous gatherings.

This is also an important topic as experts have warned that great encryption corrections can pose additional challenges for Bitcoin and Crypto Treasury companies.

Distinctive image from Dall-E, Chart from TradingView.com

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