The founder of Blockstream urges altcoin investors to switch to Bitcoin (BTC) treasury funds.
The Altcoin Season Index has dropped to its lowest in 2 years.
Adam Back, co-founder and CEO of Blockstream, has just called on altcoin cryptocurrency investors to reposition their capital into Bitcoin [BTC] focused treasury funds after Bitcoin's dominance reached a new cycle high.
He specifically emphasized prioritizing participation in companies focused on BTC, while stating that the 'treasury season' has replaced the 'alt season'.
"TSRY SZN has become the new ALT SZN for speculators. It's time to move from ALT to BTC or BTC treasury funds."
Adam Back continues to share more,
"Yes, I am encouraging them to find an exit from altcoins. They might offset their losses by switching to BTC through treasury companies."
Bitcoin reached a new high dominance of 66%.
This is the second time Adam Back has warned altcoin investors. Last week, he pointed to Cardano's move to diversify 100 million ADA into BTC as a warning signal for those betting heavily on altcoins.
His perspective is very convincing. For example, year-to-date (YTD), shares of DeFi Development Corporation – an aggressive Solana [SOL] treasury fund, skyrocketed by 2,800%.
This figure far exceeds any top cryptocurrency and treasury funds in the first half of 2025.
In the same period, Metaplanet (MTPLF) provided investors with a 452% return. The first notable altcoin with significant profitability was Hyperliquid, which only achieved 34%.
Strategy (MSTR) shares reported a 23% YTD increase while BTC increased by 8%. In contrast, Solana [SOL] and Ethereum [ETH] decreased by 23% and 32%, respectively.
Source: Cryptocurrency asset performance compared to treasury funds, TradingView.
During this limited time period, only HYPE has shown exceptional growth. However, it still lags far behind DFDV and Metaplanet with returns in the three to four-digit range.
Adam's position is further strengthened as BTC hit a cycle-high dominance of 66% over the past weekend. During the Sunday sell-off, BTC's dominance rose to 65.95%, up 6% from the May bottom at 61%.
In other words, the BTC market has clearly strengthened compared to altcoins since mid-May, leading to a relatively strong decline in most altcoins.
Source: Bitcoin dominance (TradingView).
Meanwhile, the Altcoin Season Index has dropped to 12, the lowest in 2 years, according to market analyst Michael van de Poppe.
This further confirms the relative weakness of the altcoin market compared to BTC, although there are still some notable exceptions like HYPE.
In summary, cryptocurrency treasury funds have provided superior returns, outperforming even underlying assets like BTC and SOL. Therefore, they are channels that need to be closely monitored along with outstanding and sustainable factors like HYPE.
Source: https://tintucbitcoin.com/ban-altcoin-mua-bitcoin-dot-pha/
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