#TradersLeague Few companies with Bitcoin treasury will survive, Companies with Bitcoin treasury have become a major trend in 2025; however, it is likely that only the most experienced and disciplined firms will survive.
Only a few companies with Bitcoin treasury will withstand the test of time and avoid the perverse "death spiral" that will affect BTC holding companies trading close to their net asset value (NAV), which is the total assets of a business entity minus its liabilities, according to a report by the venture capital (VC) firm Breed.
The health of companies with Bitcoin treasury depends on their ability to achieve a multiple of their net asset value (MNAV), the authors wrote.