INSUBCONTINENT EXCLUSIVE:
Public companies buying up Bitcoin should consider sunsetting the tactic altogether if their stock prices drastically drop, according to a
through large at-the-market (ATM) programs to buy BTC, a risk is emerging: If the stock trades at or near NAV [net asset value], continued
Monday.He added that no public company has traded below the net asset value of its Bitcoin (BTC) for a sustained period, but that Semler
in May 2024 and has grown its holdings to the 13th largest among public firms, with 3,808 BTC worth $404.6 million.Bitcoin has continued to
nearly half so far this year
other Bitcoin-buying firms, has undertaken multiple rounds of shares and debt issuance to raise money to buy more Bitcoin, with the company
at-the-market offerings if their stock trades below a net asset value of 0.95x for at least 10 days.Related: New Bitcoin treasuries may
trading at NAV, shareholder dilution is no longer strategic
