Urgent Warning
The prestigious fund manager VanEck has issued a public warning to companies adopting Bitcoin as a reserve asset in their treasuries: beware of shareholder dilution!
As more companies — including heavyweights like Tesla, MicroStrategy, and more recently Trump Media — integrate BTC into their balance sheets, the risks of poor financial management and loss of shareholder power increase.
💣 What does this mean?
According to VanEck, institutional euphoria for Bitcoin must be accompanied by strategic financial governance, especially when the asset becomes core to the capital structure.
“Share buybacks must offset any new issuance, or investors could see their real stake diminish,” warned Matthew Sigel, head of digital asset research at VanEck.
🔍 Emerging current context
Trump Media received SEC approval to inject $2.3B into its treasury and buy BTC.
MicroStrategy already owns more than 1% of the total Bitcoin supply.
Emerging companies are following the trend, lacking clarity on the side effects on the share structure.
💥 Hidden risk:
Every stock issuance to finance BTC purchases could dilute the proportional value of existing shareholders. In bull markets, this may go unnoticed. But in the face of a market correction, the blow would be double: in the treasury and in credibility.
