Crypto treasury top or flop

Hello my dears,

Opinions are divided right here.

And everyone says something different.

What is your opinion here? @stefan_21

permanent economic engines?

or rather a.

phase-out model?

Which companies do you still see at the forefront, and which would you rather stay away from?

Why can companies like Mara, Block or coinbase hardly benefit from this hype?

By the way, companies like

$MELI (+0,87%) hold 570 Bitcoin

$DEFI (+0,11%) hold 204 Bitcoin

$COIN (-0,59%) hold 11,776 Bitcoin

which makes the companies attractive in addition to their traditional business model.

And these companies tend to be my favorites because of their traditional business model.

Crypto treasury companies could become giants like Berkshire Hathaway in the long term, says analyst

https://www.coindesk.com/de/markets/2025/09/27/crypto-treasury-firms-could-become-long-term-giants-like-berkshire-hathaway-analyst-says

Bitcoin balance sheets demystified - one in four companies worth less than their coins

A new analysis by K33 Research reveals how risky the strategy of many listed companies to fill their balance sheets with Bitcoin is. The market is punishing them - in some cases, the companies are worth less than their own crypto holdings.

21.09.2025 - 10:00 am

https://www.investmentweek.com/bitcoin-bilanzen-entzaubert-jede-vierte-firma-weniger-wert-als-ihre-coins/

Bitcoin treasury: The house of cards is collapsing - one in four companies worth less than their coins

https://www.deraktionaer.de/artikel/krypto/bitcoin-treasury-das-kartenhaus-bricht-zusammen-jede-vierte-firma-weniger-wert-als-ihre-coins-20386669.html

Stefan21@stefan_21

I think that only a few treasury companies will survive. If at all, then wsl Strategy and Metaplanet will make it - and maybe a few others. Without a business model that generates a little revenue to pay employees and repay debt or buy back shares if mNav falls below 1, it will probably be difficult.
Treasurys in particular, which accumulate altcoins, will not survive in the long term in my opinion.

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Tenbagger2024@Tenbagger2024

@BamBamInvest What is your assessment here?

BamBamInvest@BamBamInvest

@Tenbagger2024 In short, it is similar to that of @stefan_21. And companies like $MSTR and $3350 will even benefit from possible insolvencies of small companies in this sector. However, I am not at all worried about $MSTR and $3350. If you believe in $BTC as the hardest currency/asset and prices continue to rise, the business models of the larger Treasurys will also work without any problems and will eventually become the most valuable companies in the world.

Crypto treasury, top or flop?