New Bitcoin treasuries may crack under price pressure

Strategy has inspired a wave of copycats to join the corporate Bitcoin treasury wave, but they haven’t been battle-tested and entered at higher average prices.

A growing number of publicly listed companies is announcing plans to add Bitcoin (BTC) to their corporate treasuries, and the trend is beginning to raise eyebrows.

In the 30-day span to June 11, at least 22 entities added Bitcoin as a reserve asset, according to BitcoinTreasuries.net.

The buying spree was popularized by Strategy (formerly MicroStrategy), whose aggressive Bitcoin accumulation blueprint has inspired a wave of imitators.

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