INSUBCONTINENT EXCLUSIVE:
Bitcoin treasury adoption by public companies has become the new altcoin season for cryptocurrency speculators, Adam Back said on
them attractive for investors, Back explained.His comments come amid a wave of growing corporate Bitcoin adoption, which saw the number of
public companies holding Bitcoin double since June 5.Source: Adam BackAt least 240 public companies now hold Bitcoin on their balance
sheets, up from 124 firms just weeks ago, accounting for about 3.96% of the total BTC supply, according to BitcoinTreasuries.NET.Source:
BitcoinTreasuries.NETBack previously predicted that institutional and government adoption would make Bitcoin a $200 trillion market
currency, replacing fiat money due to its inflationary economics.Metaplanet, MicroStrategy premium, compared to Bitcoin
Source: 10X ResearchHowever, Bitcoin treasury firms also present growing concerns for shareholders
fivefold for Bitcoin exposure via Metaplanet shares.Related: Genius Group Bitcoin treasury grows 52% as 1,000 BTC goal reaffirmedStill, Back
argued that Bitcoin-focused firms offer a possible path to recover losses from altcoins
reserve.Three days earlier, Paris-based cryptocurrency company The Blockchain Group announced plans to raise $340 million for a corporate
Bitcoin treasury, signaling growing institutional interest in Europe.Despite their lack of momentum, altcoins are also benefiting from
Interactive Strength, a Nasdaq-listed fitness equipment manufacturer, announced plans to raise $500 million to establish a Fetch.ai (FET)
