Bitcoin advocate Max keiser casts doubt on new BTC treasury companies

Bitcoin (BTC) maximalist Max Keiser precocious formed uncertainty connected the quality of newer Bitcoin treasury companies, emulating the firm BTC reserve strategy popularized by Strategy co-founder Michael Saylor, to support fiscal subject during a protracted carnivore market.

According to the Bitcoin maximalist, Michael Saylor has weathered a erstwhile carnivore marketplace and continued to accumulate BTC with precocious conviction, a script that newer BTC treasury companies person yet to encounter. Keiser wrote successful a May 30 X post:

"The Strategy clones person not been tested successful a carnivore market. Saylor ne'er sold and conscionable kept buying, adjacent erstwhile his BTC presumption was underwater. It is foolish to deliberation the caller Bitcoin Treasury Strategy clones volition person the aforesaid discipline."

"Strategy is the Bitcoin of BTC treasury plays. Proceed accordingly," Keiser wrote successful an earlier X post.

A breakdown of the Bitcoin held successful firm treasuries and the types of institutions holding Bitcoin. Source: Bitcoin Treasuries

Michael Saylor's institution continues to garner attraction from crypto and accepted fiscal investors alike, attracting caller superior flows and inspiring dozens of copycat companies to emerge. 

This proliferation of BTC treasury companies could make a concern successful which 50% oregon much of the full Bitcoin proviso is owned by corporations, immoderate analysts predict.

Related: Bitcoin yet to deed $150K due to the fact that outsiders are ghosting — Michael Saylor

Scores of Strategy copycats look arsenic banal premiums soar

Following a accelerated emergence successful the terms of Strategy's stock, which saw shares of the institution surge respective times implicit to an all-time precocious of astir $543 connected November 21, dozens of companies announced plans to follow a Bitcoin treasury plan to support the worth of their reserves and summation stock prices.

On May 7, Strive, an plus absorption steadfast founded by erstwhile governmental campaigner Vivek Ramaswamy, announced it was becoming a Bitcoin treasury company.

The Trump Media and Technology Group (TMTG), a media and online tech institution that is partially owned by US President Donald Trump, confirmed a $2.5 cardinal capital rise to acquisition Bitcoin connected May 27.

Metaplanet, a institution that antecedently adopted a Bitcoin treasury plan, is astir trading astatine a Bitcoin premium of $600,000.

This means that investors are paying astir six times arsenic overmuch for Bitcoin vulnerability than had they simply purchased Bitcoin straight connected spot retail markets.

This premium has raised alarm bells from immoderate analysts, who reason that these precocious valuations are not sustainable.

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