Analysts announced that companies with bitcoin reserves have entered the 'Darwinian phase.' The turning point occurred when the bitcoin price fell from the October peak of $126,000 to a low of around $82,000. Investors' appetite for risk sharply decreased, and liquidity in the market diminished.
The baseline scenario for such companies is a prolonged period of stagnation, during which the stocks carry a greater risk of price decline than the asset itself.
The second option is consolidation, where firms with high debt loads or large stock issues risk facing pressure from creditors, acquisition, or restructuring.
The third scenario is recovery. This is only possible if the first cryptocurrency can update its historical maximum. However, only organizations that have maintained sufficient liquidity and have not accumulated large debts will be able to take advantage of this chance, experts from Galaxy explained.
In their opinion, further dynamics will depend on the behavior of the first cryptocurrency and the ability of company owners to adapt to new conditions in the crypto market.
Earlier, analysts from the JPMorgan banking holding stated that the ability of Strategy, the largest public corporate holder of bitcoins, to avoid selling off its BTC is much more significant for the asset's price than pressure from miners.
