Over 250 Companies Holding Bitcoin Treasuries Face NAV Risks Amid Market Volatility

By 2025, over 250 organizations, including public companies and pension funds, have adopted the Bitcoin treasury model, using Bitcoin as a corporate reserve asset to hedge against inflation and seek long-term appreciation. This trend, sparked by Michael Saylor's pioneering strategy, has expanded to a new class of Bitcoin-holding companies, though it faces risks such as a potential NAV death spiral triggered by Bitcoin price volatility. Small and medium enterprises (SMEs) are increasingly considering Bitcoin as a strategic reserve asset to improve financial stability and manage inflation risks, inspired by institutional moves such as MicroStrategy's significant Bitcoin acquisitions. Companies like Active Energy are also implementing Bitcoin treasury policies to enhance financial resilience and support operational goals. Meanwhile, stress in global bond markets, exemplified by significant losses in Japanese bonds, is driving a shift toward hard assets like Bitcoin, further boosting its appeal as an alternative investment amid low government bond liquidity. This combination of increasing institutional adoption, SME interest, and macroeconomic factors underscores Bitcoin's growing role in corporate and financial strategies.