Strategy bitcoin sales shine light on faltering crypto hoarding companies
Strategy Bitcoin Sales Shine Light on Faltering Crypto Hoarding Companies
DAT executives, though, have said their success will be rooted in their ability to make smart investing decisions and are looking for new ways to boost shareholder value.
Aggregate Weekly Trading Volume
The aggregate weekly trading volume in DAT shares peaked in August last year, according to data from blockchain data provider Artemis Terminal, but has seesawed since. Weekly trading volume hit a low in February, after bitcoin and other cryptocurrencies sold off on the news Warsh would be nominated for Fed chair.
Analysts believe Warsh will push to shrink the Fed's balance sheet, a headwind for risk assets like cryptocurrencies as such a move would reduce financial system liquidity.
Token Holdings
Strategy holds by far the most crypto, even after its bitcoin sales this year. BitMine Immersion Technologies, which hoards ether, the biggest cryptocurrency after bitcoin, has the second largest stockpile.
Along with Strategy, several other crypto treasury companies have sold a portion of their crypto holdings this year.
Nakamoto Inc, which refers to itself as a bitcoin operating company, sold about 5% of its bitcoin holdings in March and another approximately 600 bitcoin in June.
All the companies referenced here declined to comment or did not respond to requests for comment.
This article has been published in reuters.com via Yahoo News.
Strategy bitcoin sales shine light on faltering crypto hoarding companies
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